Irvine, CA – ChromaDex, Inc. (www.chromadex.com), the world leader in phytochemical reference standards and contract testing, has been recognized by Entrepreneur Magazine as one of America's fastest growing companies in their annual "Hot 500" list published in their August, 2007 issue. ChromaDex was listed 440th out of 500 U.S. businesses that made the final list, which was paired down from
over 95,000 businesses that met their criteria.
"This is a tremendous accomplishment for ChromaDex and a testament to our customers as well as the people here that have devoted their time, and effort to making our company a success," said Frank Jaksch, CEO of ChromaDex. "Being listed in Entrepreneur Magazine's Hot 500 list validates the path we've taken over the past seven years."
Founded in Irvine, CA in 1999 with two employees, including founders Frank Jaksch, and Mark Germain, ChromaDex now has over 40 employees located in California and Colorado.
According to Entrepreneur, the Hot 500 rankings are compiled with the help of Corporate Research Board, a research organization. Entrepreneur and CRB started with CRB's database of more than 19 million U.S. businesses and considered only those businesses that met the following criteria:
-- Must have been founded no earlier than 1998 and no later than 2002
-- Company sales in 2002 must be $100,000 or greater; 2006 sales must not exceed $1 billion
-- Must have positive job growth between 2002 and 2006
-- Must have a minimum level of sales growth or a sales growth quantifier of 1 or higher between 2002 and 2006; the growth quantifier is a measurement that combines percentage and absolute growth.
Only 95,000 businesses or 0.5 percent of the 19 million businesses met the above criteria. Entrepreneur then contacted the businesses with the greatest growth to confirm eligibility. To be eligible, the founder must be actively involved in the company, the company cannot be a spin-off or a division of a larger company, and company sales for 2006 must be at least $1 million. From this list, the Hot 500 was selected.
The Hot 500 article and the list can be found on the Entrepreneur Website:
ChromaDex, Inc., a privately-held, Irvine, California based company, is a world leader in the development of Phytochemicals and Botanical Reference Standards as well as related contract research and testing services (www.chromadex.com). ChromaDex provides the dietary supplement, food, beverage, nutraceutical and cosmetic industries with the analytical tools, products, and services to meet the regulatory, quality, efficacy and safety standards for their products.