Los Angeles was the city with the second highest number of fast growing private businesses in the country last year, according to the 2016 Inc. 5000 list, published by Inc. Magazine on Aug. 17.
The city jumped up from sixth place in 2015. The list is ranked according to percent of revenue growth from 2012 to 2015 and only includes businesses that were generating revenue as of 2012.
New York took first place this year with 208 companies, compared with L.A.’s 107 companies.
L.A. also had the private company with the most growth in the entire country. Loot Crate, the geeky gift subscription business based in Northeastern Los Angeles, grew almost 67,000 percent from its founding in 2012 to $116 million last year.
Los York, a content-producing ad agency in Santa Monica also founded in 2012, won eighth place.
The majority of the local companies were located in the city of Los Angeles, followed by Santa Monica and then El Segundo.
Finance reporter Caroline Anderson can be reached at canderson@labusinessjournal.com. Follow her on Twitter @Caroline_Mander.
