Identity Theft Protection Leader Ranks 8th As One of Nation’s Fastest-Growing Private Companies
TEMPE, Ariz.--(BUSINESS WIRE)--Inc. magazine today ranked LifeLock (www.lifelock.com), an industry leader in proactive identity theft protection, eighth on its 29th Annual Inc. 500 List, an exclusive ranking of the nation’s fastest-growing private companies. In addition, LifeLock is recognized as No. 1 in the Inc. 500’s Security category. The list represents the most comprehensive look at the most important segment of the economy—America’s independent-minded entrepreneurs. Companies such as Microsoft, Visa, Zappos, Go Daddy, Under Armour, Jamba Juice, American Apparel, Oracle and hundreds of other powerhouses gained early exposure as members of the Inc. 500.
“This is an enormous milestone in the history of our organization”
“This is an enormous milestone in the history of our organization,” said Todd Davis, LifeLock Chairman and CEO. “I truly see this recognition as a testament to our employees’ never ending commitment to provide consumers with the means necessary to help fight the fast growing crime of identity theft. Despite a down economy, the pressure of creating an industry and unwanted distractions, we have been able to stay focused on our overall mission and deliver the most innovative products and world-class customer service.”
The 2010 Inc. 500 measures revenue growth from 2006 through 2009; LifeLock’s growth was more than 11,474 percent. To qualify, companies must have been founded and generating revenue by the first week of 2006, and therefore able to show four full calendar years of sales. Additionally, they had to be U.S. based, privately held, for profit and independent—not subsidiaries or divisions of other companies—as of December 31, 2009. The minimum revenue required for 2006 was $100,000; the minimum for 2009 was $2 million. Of the top 10 ranked companies, LifeLock’s 2009 revenue ranked third with $131.4 million.
In the 29-year history of the Inc. 500 list, there have been only two other Arizona companies ranked higher than LifeLock. In 1992, Insight Direct was ranked fifth, and in 1983, Forever Living Products was ranked sixth. The Go Daddy Group also had a ranking of eighth in 2004.
According to a study released August 12, 2010, by ID Analytics, a leader in consumer risk management, more than 20 million Americans have multiple Social Security numbers (SSNs) associated with their name in commercial records. The research shows that SSNs may not uniquely identify an individual, and organizations can expose themselves and their customers to risk if they solely rely on the SSN to verify an individual. Proactive identity theft protection can help combat the crime and protect the good name of consumers whose personal information could already be readily available to criminals. LifeLock works relentlessly to help protect its members from identity theft before it happens.