USPAACC’s Fast 50 Asian American Businesses Unveiled at CelebrAsian 2011
WASHINGTON, DC | June 2, 2011
The US Pan Asian American Chamber of Commerce Education Foundation (USPAACC) officially unveiled its 2011 list of Fast 50 Asian American Businesses at the Excellence Awards Gala, at USPAACC’s flagship CelebrAsian Business Opportunity Conference, on May 24 at the Millennium Biltmore hotel in Los Angeles. Their Founders, CEOs, COOs and Presidents flew in from all over the country for the black-tie event.
Over $3.8 billion sales were generated by USPAACC’s 50 Asian American businesses in 2010. They represent a wide range of industries nationwide — supply chain management, healthcare, professional staffing, food wholesale, IT, environmental, green energy, media, etc. — in at least eight ethnic groups: Chinese, Indian, Japanese, Korean, Malaysian, Philippine, Taiwanese and Vietnamese.
The top spot went to Care.com of Waltham, Massachusetts, with a recorded growth rate of over 500% in the past three years, with an average revenue of $3.9 million for the same period.
SearchPros of Citrus Heights, California, came in second, with 390% growth rate and an average revenue of $6.4 million for the last three years.
The growth rates were verified, ranked and officially revealed by Ernst and Young at the Gala Dinner.
“USPAACC has been proud to recognize and showcase the continued robust growth shown by Asian American-owned businesses across industries—even during challenging economic times,” said Susan Au Allen, USPAACC National President & CEO. “We congratulate our Fast 50 Asian American Businesses—proof positive that through innovation, hard work, and ingenuity, Asian Americans can effectively compete in the mainstream and remain at the forefront as catalysts to the revitalization of our national economy.”
CelebrAsian is the oldest and largest annual national pan Asian American business conference in the United States. Every year, CelebrAsian provides American and other small and minority businesses wide access to contract opportunities and jobs in growth industries, strategic solutions and best practices to thrive in the current market. It also connects hundreds of top-caliber Asian American suppliers and business owners with buyers from Fortune 1000 Corporations, the Federal, State and Local government, and the small and minority business community, through pre-scheduled one-on-one business matchmaking meetings, informative summits, workshops, and networking events.
The theme for the Conference, held May 23-25, was “Together We’re Better,” Corporate Co-Chairs Hyatt Hotels and Resorts, PepsiCo, Verizon and Wells Fargo; Asian American Business Co-Chairs Collabera, Fortinet, Inc., and VIZIO, and three Brain Trusts representing Corporations, Government and Asian American businesses provided unprecedented financial support and thought leadership.
To qualify for the ranking, companies must be owned by one or more Asian Americans (at least 51% ownership), among other eligibility criteria. Based on percentage revenue growth over three years, selection was determined through direct applications and nominations. Finalists were independently verified by the global professional services firm of Ernst and Young.
