CARE.COM RANKED NO. 1 AMONG USPAACC'S FAST 50 ASIAN AMERICAN BUSINESSES
Over $3.8 billion revenue and up to 500% growth rate in 2010, USPAACC reports
WALTHAM, MASS., June 13, 2011 - Care.com was recently ranked No. 1 among the Fast 50 Asian American Businesses by the US Pan Asian American Chamber of Commerce Education Foundation (USPAACC). The 2011 list of Fast 50 Asian American Businesses was officially unveiled 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, with companies recording a growth rate of over 500% in the past three years. 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 growth rates were verified, ranked and officially revealed by Ernst and Young at the Gala Dinner.
"I am thankful to the USPAACC for this honor, and I am delighted to share this recognition with other leading companies across the nation," said Sheila Marcelo, Founder and CEO of Care.com. "This honor acknowledges the tireless work of the entire staff at Care.com who are dedicated to helping families find quality care for their loved ones. I'm proud of all of us in building the fastest growing online service dedicated to caregivers."
"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 Care.com and 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.
ABOUT USPAACC: Founded in 1984 as a non-profit and non-partisan organization, USPAACC is the single unified voice for equal opportunity for Asian American businesses. We promote and propel economic growth by opening doors to business, educational and professional opportunities for Asian Americans and their business partners in corporate America, government at the federal, state and local levels, and the small and minority business community. For 25 years, USPAACC has served and will continue to serve as the gateway to large corporate and government contracts, top-caliber Asian American and small and minority suppliers, key information about Asian Americans and business opportunities in the dynamic Asia-Pacific market.
About Care.com, Inc.
Founded in 2006, Care.com is the largest and fastest growing service used by families to find high-quality caregivers, providing a trusted place to easily connect, share caregiving experiences and get advice. The company addresses the unique lifecycle of care needs that each family goes through - child care, including babysitters and nannies, tutors, special needs caregivers, senior care providers, pet sitters, and even housekeepers. The service helps families find and select the best care available based on detailed profiles, background checks and references for hundreds of thousands of mom-reviewed and pre-screened providers who seek to share their services. Through its Care.com Employer Program, corporations can offer Care.com memberships as a benefit to employees.
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