100 Fastest-Growing Companies 2023
It’s that time of the year when we look at the top fastest-growing online companies over the past 12 months. With the pandemic behind us, online companies gained steam as millions of consumers flocked to the web to find bargains, especially during the Cyber Monday and Christmas shopping season. The exponential growth of these companies is limited to purchases of consumer electronics and gadgets, digital companies in advertising space, fitness, finance, and travel, also witness a big boom.
To help us with this year’s list of the 100 fastest-growing companies, we consult SimilarWeb, an Israeli web analytics tech startup company specializing in web traffic and performance. The startup is currently out with its highly-anticipated annual rankings of the fastest-growing online companies in the US for 2023. The Digital 100, as it is called, includes the fastest-growing digital companies online in the US across 10 key industries based on year-over-year (YoY) traffic growth
To identify the top companies in each category area, SimilarWeb analyzed websites with over 100,000 visitors for 10 categories,
ranking the 100 websites with the largest year-over-year (YoY) increase in visitors on desktop and mobile web devices in the US in 2022 vs. 2021. Below is a quick overview of each category and how the top companies performed over the year.
Rent gadgets for less
If you’re someone who loves the latest and greatest tech but doesn’t want to drain your bank account, you might want to check out Grover.com! They’re a rental company that has claimed the top spot on SimilarWeb’s list in the Consumer Electronics category for providing affordable options for popular gadgets like iPhones, PS5s, and laptops. The best part is that you can return them whenever you want!
We’ve also noticed that smart home technology is becoming more and more popular. Home theater systems, smart lighting, and security cameras are just a few of the in-demand items that people are searching for. It’s fascinating to see how our homes are getting smarter and more connected!
Insight I: Consumers want the best tech gadgets for less
Insight II: Growing demand for smart homes in the US
Insight III: Consumer electronics equals consumer awareness
Grover.com, an electronics rental company, achieved the top spot with a 354% YoY growth, as this year’s cost-conscious customers look to rent the most recent electronics instead of purchasing them to save money. The company also had 5.9M unique visitors in 2022. Grover enables customers to rent products such as iPhones, PS5, and laptops and return them when they want. Notably, 19% of Grover’s traffic came from paid search and 14% from display ads. The website’s visitors are predominantly male (67%), with the 25-34-year-old age group making up 29% of traffic and 18-24-year-olds making up 25%
Apparel & Accessories
Fast fashion and endorsements are en vogue
The micro-trends of social media have enabled the growth of ultra-fast fashion companies, such as Emmiol (+241.9%) and Cider (+182.8%), which are direct competitors of Shein, the fast-fashion giant. These brands’ low-priced clothing has been popular due to the inflationary pressures that have affected consumer purchasing habits in 2022. Intimissimi, which is supported by Jennifer Lopez, Sarah Jessica Parker, Heidi Klum, and more, was the fastest-growing apparel website with a 285.9% increase in traffic. Kim Kardashian’s SKIMS shapewear and loungewear brand also made a significant impact, growing by 157.2%.
Beauty & Cosmetics
Fawning over frugal fragrances and experiences
This year’s price-conscious consumer still wants to smell nice. Dossier.co saw impressive growth with its fragrances inspired by high-end brands such as Gucci and YSL. Another top 10 winner, scentsplit.com, allows buyers to purchase sample sizes of their favorite scents for less than $10. And thanks to TikTok, affordable at-home alternatives to professional hair salon treatments like that offered by Beachwaver have grown in popularity.
Health & Fitness
Subscribe for a healthier lifestyle
Whether it is a fitness program subscription, pre-workout/post-workout powders, health supplements, or health tech, nearly every company in the top 10 winners list offers subscription-based options. The top spot went to Set for Set, a fitness education, equipment, and supplement retailer that grew 347.8% in 2022. We also saw the rise of personalized healthcare technology players, Nutrisense (+133.8%) and SelfDecode (+120.5%), as well as vegan-inclusive brands such as Ancient Nutrition (+287.9%), Athletic Greens (+155.6%), and Kachava (108.3%)
Revenge travel – best served hot!
Demand for travel remains high, with customers seeking the best value through reward programs and bargain-focused OTAs. Cruise sites were especially popular in 2022, with four of them making it into our top ten list, indicating a new preference for travel among consumers. Interestingly, the majority of visitors to the four cruise sites were first-time users.
American travelers are highly interested in international travel after years of COVID restrictions. Israel’s national airline El Al, Singapore Air, and Aerlingus, Ireland’s national airline, all experienced impressive growth in the US in 2022.
Buy now, pay later (without interest)
Consumers are hoping to avoid being a day late and a penny short with Buy Now Pay Later (BNPL) credit. BNPL was a major trend this year, as consumers looked for ways to stretch their dollars and still make purchases at a time of elevated inflation and budget sensitivity. With a whopping +3,000% year-over-year growth, Synchrony, which offers private label credit cards and alternative financing products including BNPL, won our #1 spot. Other BNPL players who made it on the list include Uplift and Zip.
News & Media
Mainstream news loses prominence to niche players
The COVID-19 baby boom is driving news consumption, with niche parenting websites like forever-mom.com and parentmood.com winning spots in the top 5. We’ve also seen a growing preference towards foreign affairs with remarkable traffic growth to sites such as liveuamap.com and eurasiantimes.com. Travel, celebrity, lifestyle, and other niche news sites also made the list.
Do it yourself and save big
Car owners are increasingly looking to save money by doing their own vehicle maintenance and repairs, as is showcased by the year-over-year (YoY) growth in websites like tireagent.com and repairsmith.com. They’re also looking to score the best deal, whether that be for a new car or cheaper gas options amid soaring prices. Auto auction site ccacar.com saw a 115% increase in traffic YoY, and gasbuddy.com, which helps people find the cheapest gas prices in their area, was up 90%.
Technology & Services
Frictionless payments cash in
Social media influencers are cashing in on their passion with ease thanks to snipfeed.co, a monetization platform built in a bio link. The website caters to content creators and is particularly popular among Gen Z’ers and millennials. Companies also rely more heavily on technology to make their business processes smoother, including payments, marketing, scheduling, and workforce management.
Jobs & Careers
AI and WFH are here to stay
AI is playing an increasingly important role in life, and job and career searches are no exception. This year, four of the top 10 fastest-growing companies are AI recruiting solutions, including eightfold.ai (+213%), paradox.ai (197%), and beamery.com (+98.8%). Additionally, the career portal of Airbnb’s website experienced a 61% growth in 2022, likely due to the company’s work-from-anywhere policy, which was announced in April 2022. That same month the site saw an 89% increase in traffic to its career page.
With that, below are the top 100 fastest-growing digital companies in the US, according to SimilarWeb.