You Need A Budget Ranks 10th Out of 100 Fastest Growing Companies in Utah

Those of you signed up for the newsletter already heard, but for those of you that haven’t, here’s our press release:

Business Network Honors Budgeting Software Company at 17th Annual Utah 100 Awards Program

Small but mighty financial software company, You Need a Budget, was named Utah’s 10th fastest growing company at Mountain West Capital Network’s (MWCN) 17th annual Utah 100 Awards Program at the Grand America Hotel in Salt Lake City last Thursday.

MWCN, Utah’s largest business networking organization, chose the top 100 out of thousands of Utah businesses that applied. Those 100 were then ranked according to their percentage of revenue increase from 2006 to 2010. A first-time applicant to the event, You Need a Budget (YNAB) was pleased to find itself sandwiched between elite companies such as Green River Capital (11th) and SkullCandy (9th). Upon learning the exact placement of his seven-year-old start-up, YNAB Founder and CEO, Jesse Mecham, stated, “I was shocked. I knew we had grown tremendously, but when I saw the competition, I had my doubts. To be ranked number 10 is a very welcome surprise.”

But it should come as no surprise. The software company—started when Mecham was newly married and still in college—has achieved 1,577% revenue growth since 2006, an impressive feat considering the doomed fate of most start-ups in the face of the economic downturn. But You Need a Budget didn’t just eek it’s way through the recession, it thrived. Meant to help people take the reins on their finances through it’s Four Rules method, YNAB has become the budgeting software of choice to an ever-growing body of users in a few, short years. With tens of thousands of customers, world-wide, and a new accolade under his belt, Mecham has no plans for slowing down. “As much as people love You Need a Budget now, I know we can make it even better. There’s still plenty to be done and new ways to grow.”

8 Responses to “You Need A Budget Ranks 10th Out of 100 Fastest Growing Companies in Utah”

  1. Travis

    Sweet! I love seeing fellow Utah entrepreneurs succeed. Particularly when they succeed with a product that I personally use…all the time. I really have no better endorsement than that!

  2. Sylvain

    Congratulations ! You even have a french customer just right here ;-)
    Long life to YNAB a really well done helping tool for your personal budget.

  3. Eli Mandel

    Wow! Congratulations.
    Next stop – overtake Quicken.

  4. Mike

    Let me also throw in my congratulations. This is recognition of well deserved success. The software and methodology are truly great.

    However, to look at it a different way… this could be trouble. Now the larger companies like Intuit and others who could be looking to acquire a company might take a closer look at YNAB. They could make Jesse an offer he can’t refuse and then he next thing you know, we are looking at “Intuit YNAB”. Or even worse, YNAB could be purchased for its intellectual property and the product disappears in its current form. I hope I’m wrong, but it happens everyday.

  5. Lenore

    Hey, Jesse, way to go! I knew business was hoppin’, if only because of the speed of YNAB’s software development and refinement (no matter how impatient we users can get), including the welcome addition of the mobile Android app. But I’m glad to have been part of it.

    Mike, I second your hopes that YNAB will keep up as a small company, if only to ensure we continue to benefit from Jesse and his co-conspirators. I’d hate to see the method and program co-opted by new ownership, especially considering the great customer service and care we get now. Can you imagine what Intuit might do in the long term? But I’m not too concerned, knowing what I’ve gleaned about Jesse’s character.

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