When you see a boarder or skier shredding it on the hill with headphones cinched over his dome, chances are they're wearing Skullcandy. The Park City developer of core audio products is celebrating its place at the top of Inc. Magazine's recently released annual Inc. 5000 list. The list is an honor roll of the 5,000 fastest-growing, privately held companies throughout the U.S. and the niche Park City gang helmed by Rick Alden is the nation's 31st top entrepreneurial success.
One thing that placed them so high was the company's impressive revenue growth of over 4,077 percent. "Pretty cool if you ask me," said Rick Alden, CEO and founder of Skullcandy. "Having Inc. rank Skullcandy with so many well-known companies makes this one of Skullcandy's most distinguished company honors. It has always been our drive to ‘offend the status quo.' Nothing validates the mission more than having end consumers buy and love your product."
Alden formed Skullcandy in 2003, to offer lifestyle driven, high-performance headphones to a core demographic in the action sports industry. In just five years, Skullcandy has introduced a line of more than 100 SKUs of headphones as well as other audio products, such as backpacks with built-in speakers and iPod accessories. They were the ones to first sign on with Giro helmets to create TuneUps, audio earpads.
Skullcandy also topped the charts as the number one company on Inc.'s list of the Top 100 Consumer Product Companies. A huge accomplishment for a five-year-old company, Skullcandy is acknowledged for its exceptional growth in the action sports space with a strong presence in the U.S. and more than 40 countries around the globe.
To qualify for The Inc. 5000, companies must have been founded and generating revenue by the first week of 2004. Additionally, they have to be U.S.-based, privately held, for profit, and independent - not subsidiaries or divisions of other companies - as of December 31, 2007, with revenue in 2004 of at least $200,000, and at least $2 million in 2007.
The recipe for Skullcandy's success can be directly attributed to the company's focus on creating audio products for the action sports industry and staying true to the needs of its core customers, while also creating a strong product demand in the mainstream market.
It doesn't hurt that Alden is a cool dude with great hands-on salesmanship. He was personally handing out earbuds at events like the Sundance Film Festival and the Las Vegas ski and snowboard trade show.
Skullcandy also collaborates with select brands to integrate its audio technology into products from snow helmets to outerwear, apparel, packs and bags.