Loot Crate Tops Inc. 500 List Of Fastest Growing Companies

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Los Angeles-based Loot Crate tops the list by overcoming shipping strikes, product scarcity, and the uncertain subscription-box economy to succeed in the business of fandom.

Inc.com reports on it’s #1 fastest growing company.

 Loot Crate is a $116 million, Los Angeles-based business, winning the No. 1 slot on the 2016 Inc. 500 list of America’s fastest-growing private companies. In its 130,000-square-foot warehouse, a team of 300 employees packs up to 70,000 boxes a day, shipping monthly to 650,000 subscribers in 35 countries. On a wave of Matrix puzzles, Han Solo figurines, and Walking Dead soaps, Loot Crate has built a rabid community of geeks and gamers, who open their crates and dish about the contents–and anything else related to fandom–on the company’s social sites. Half a million fans watch Loot Crate’s Facebook live videos every month, and user-generated video views on YouTube top more than two billion. “We want to be where people with like interests hang out,” says Arevalo.

For about $20, subscribers get a monthly box of half a dozen items. Rather than organize the crates around a single movie or comic book, Loot Crate picks broad themes, so there’s something for everyone. The “Time” crate, for instance, included a Back to the Future hoverboard replica, a Bill and Ted’s Excellent Adventure T-shirt, and a Doctor Who spork. “I’m a broader fan, and that mindset works well on the curation side,” says Davis. “We want to make it compelling, even if you’re not a superfan of a particular franchise.”

Is content bigger than subscription?

Barkbox is investing heavily in content.  So I was surprised and delighted to see that Loot Crate CEO Chris Davis sees things similarly.

Though Loot Crate launched at a time when subscription boxes were going gangbusters, Davis knew that longevity would likely go to those companies that could stretch their customers’ joy beyond one day a month of receiving mail. So he set out to extend the brand: Loot Crate launched an app, seeded fan communities across Snapchat and Reddit, and built out an in-house team of designers, developers, and writers to create custom content. The company releases an interactive game each month, includes a 24-page magazine in each crate, and produces scripted, multicamera videos with geeky plots. “We think of ourselves now as more of a content and experience platform,” says Davis. “Whether it’s print or mobile or digital, we want to deliver this great experience to fans. That’s bigger than subscription boxes.”

Read the whole story here.

COMPANY PROFILE

COMPANY: Loot Crate

2016 INC. 5000 RANK: 1

HEADQUARTERS: Los Angeles, CA

YEAR FOUNDED: 2012

2015 REVENUE: $116.2 million

3-YEAR GROWTH: 66,789%

WEBSITE: lootcrate.com