Make us your home page
Instagram

The Penny Hoarder tops 79 fastest growing Tampa Bay companies on Inc. 5000

ST. PETERSBURG — The Penny Hoarder on Wednesday further cemented its reputation as one of the country's fastest growing companies. The personal finance web site business ranks 25th nationwide and tops in the Tampa Bay market for growth on the 2017 Inc. 5000 list of fastest growing businesses.

The Penny Hoarder, now seven years old and based in downtown St. Petersburg, recorded $20.5 million in revenues in 2016, representing a three-year growth rate in revenues of 9,396 percent. The company's performance is a marked improvement over its standing on last year's Inc. 5000 list where it ranked 32nd nationally with $7.5 million in revenues and a 3-year growth rate of 6,934 percent.

RELATED COVERAGE: Led by PayKings, 73 Tampa Bay firms make 2016 Inc. 5000 list of fastest growers.

On the Inc. 5000 list, the company is listed with 49 employees. Today, the company actually employs 74 and expects to hit the 100 mark by year-end, says Alexis Grant, 36, the executive editor of The Penny Hoarder and the company's third employee with less than three years under her belt.

How does a so called "media" company dispensing financial advice online manage to grow so fast at a time when traditional news sources are struggling? "We think differently about media," Grant says. "We focus on being innovative both in the content we provide and the revenue side of our operations."

As an example, The Penny Hoarder decided not to pepper its web site with distracting display or pop-up ads but instead builds its business on what it calls "performance marketing" in which the company shares some of the financial risk with its advertisers. As an example, says Grant, taxi alternative Uber wants more drivers and uses The Penny Hoarder to get strong leads. In this case, rather than receive a flat fee for an ad, the financial web site might be paid by Uber for results, as in the number of drivers the web site can deliver.

So far, that strategy seems to be working quite well.

The firm also happens to rank No. 7 in the small company category in the 2017 Tampa Bay Times annual review of top workplaces in the area.

TOP WORKPLACE COVERAGE: TAMPA BAY'S TOP 100 WORKPLACES.

The Penny Hoarder was founded by CEO Kyle Taylor, who began a personal blog in 2010 about making and saving money while "managing massive student loans and debt" in 2010. Readers responded, sparking the launch of ThePennyHoarder.com.

The company was one of 79 Tampa Bay companies ranked on the new Inc. 5000.

Grant says the recognition of being a top ranked firm on a well known fast growth list gives it a big boost when hiring. Adds Grant: "It helps us recruit really great employees."

The Penny Hoarder tops 79 fastest growing Tampa Bay companies on Inc. 5000 08/16/17 [Last modified: Wednesday, August 16, 2017 4:29pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. 'Toxic' times: How repeal of Florida's tax on services reverberates, 30 years later

    State Roundup

    TALLAHASSEE — Long before Hurricane Irma attacked Florida, the state faced a troubled fiscal future that the storm will only make worse.

    Robertson says the tax debate is now “toxic.”
  2. Fewer Tampa Bay homeowners are underwater on their mortgages

    Real Estate

    The percentage of Tampa Bay homeowners underwater on their mortgages continues to drop. In the second quarter of this year, 10.2 percent of borrowers had negative equity compared to nearly 15 percent in the same period a year ago, CoreLogic reported Thursday. Nationally, 5.4 percent of all mortgaged homes were …

    The percentage of Tampa Bay homeowners underwater on their mortgages  continues to drop. [Times file photo]
  3. 'What Happened'? Clinton memoir sold 300,000 copies in first week

    Blogs

    Despite being met with decidedly mixed reviews, What Happened, Hillary Clinton's new memoir about the 2016 presidential campaign, sold a whopping 300,000 copies in its first week.

    The new memoir by former presidential candidate Hillary Clinton sold 300,000 copies in its first week.
  4. After Irma topples tree, home sale may be gone with the wind

    Real Estate

    ST. PETERSBURG — To house hunters searching online, the home for sale in St. Petersburg's Shore Acres neighborhood couldn't have looked more appealing — fully renovated and shaded by the leafy canopy of a magnificent ficus benjamini tree.

    Hurricane Irma's winds recently blew over a large ficus tree, left, in the yard of a home at 3601Alabama Ave NE, right, in Shore Acres which is owned by Brett Schroder who is trying to sell the house.
[SCOTT KEELER   |   Times]

  5. Unemployment claims double in Florida after Hurricane Irma

    Business

    The number of Americans seeking unemployment benefits dropped by 23,000 last week to 259,000 as the economic impact of Hurricane Harvey began to fade.

    Homes destroyed by Hurricane Irma on Big Pine Key last week. Hurricane Irma continued to have an impact on the job market in Florida, where unemployment claims more than doubled from the previous week.
[The New York Times file photo]