Mohawk Group Named to the Inc. 5000 2019 Fastest Growing Companies List
Company Ranks 622 out of 5000 Companies in the U.S.
NEW YORK, Oct. 01, 2019 (GLOBE NEWSWIRE) -- Mohawk Group Holdings, Inc. (NASDAQ: MWK), the tech-enabled, consumer-focused product company, today announced its addition to the Inc. 5000 2019 list. Mohawk Group Holdings, Inc’s (“Mohawk’s”) three-year revenue growth of 707% earned the company a ranking of 622nd out of 5000 of the fastest growing companies in the nation.
Prior to Mohawk’s initial public offering in June 2019, the Company had already established itself as one of the fastest growing private consumer companies in the U.S., posting revenue growth at more than 100% year-over-year since it was founded in April 2014.
“As a five-year old technology and consumer-focused company working in the rapidly evolving retail industry, we are honored to be recognized as one of the fastest growing companies in the U.S.,” said Yaniv Sarig, Co-Founder and Chief Executive Officer of Mohawk Group. “This recognition further validates our belief that being holistically connected to the voice of the consumer will be key to continuing to drive our success in today’s digital-first marketplace.”
The Inc. 5000 is a list of the fastest-growing private companies in the nation. Started in 1982, this prestigious list has become the hallmark of entrepreneurial success.
“The companies on this year’s Inc. 5000 have followed so many different paths to success,” says Inc. editor in chief James Ledbetter. “There’s no single course you can follow or investment you can take that will guarantee this kind of spectacular growth. But what they have in common is persistence and seizing opportunities.”
Mohawk Group is expected to announce its third quarter earnings results on November 5, 2019.
More about Inc. and the Inc. 5000
The 2019 Inc. 5000 is ranked according to percentage revenue growth when comparing 2015 and 2018. To qualify, companies must have been founded and generating revenue by March 31, 2015. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2018. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2015 is $100,000; the minimum for 2018 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.
About Inc. Media
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders. Inc. took home the National Magazine Award for General Excellence in both 2014 and 2012. The total monthly audience reach for the brand has been growing significantly, from 2,000,000 in 2010 to more than 20,000,000 today. For more information, visit www.inc.com.
About Mohawk Group Holdings, Inc.
Mohawk Group Holdings, Inc. and subsidiaries (“Mohawk”) is a rapidly growing technology-enabled consumer products company that uses machine learning, natural language processing, and data analytics to design, develop, market and sell products. Mohawk predominately operates through online retail channels such as Amazon, eBay, and Walmart. Mohawk has incubated and grouped four owned and operated brands: hOme, Vremi, Xtava and RIF6. Mohawk sells products in multiple categories, including home and kitchen appliances, kitchenware, environmental appliances (i.e., dehumidifiers and air conditioners), beauty-related products and, to a lesser extent, consumer electronics. Mohawk was founded on the premise that if a company selling consumer packaged goods was founded today, it would apply artificial intelligence and machine learning, the synthesis of massive quantities of data and the use of social proof to validate high caliber product offerings as opposed to over-reliance on brand value and other traditional marketing tactics.