Tower Paddle Boards Recognized as one of San Diego's Fastest Growing Companies
San Diego, CA July 15, 2015 – The San Diego Business Journal recognized Tower Paddle Boards as one of the 2015 Fastest Growing Private Companies in San Diego. This is the second year Tower has made the list. This year, Tower sits at number 15 with over $10 million in lifetime sales. Tower is shooting to stay in the top 20 next year with a two year growth rate of 175 percent.
Founder and CEO, Stephan Aarstol, launched the stand up paddle board company in October of 2010 with sales totaling $3,000. In 2011, Stephan brought his direct-to-consumer business approach to ABC's Emmy award winning show Shark Tank, where he caught the attention and investment of Mark Cuban.
"A one time massive spurt of growth is one thing, but sustaining significant growth year in, year out... that's something rare," states CEO/Founder Stephan Aarstol, "We'd like to stay in the top 20 for the next couple of years."
Tower's unique business model disrupts the industry by innovating on the distribution front, marketing front and product front, which allows them to sell high-quality stand up paddle boards for $500 to $1000 less than competitors. Tower currently has nine employees and two locations in San Diego; their headquarters are located in Pacific Beach and the warehouse/retail shop is located in Miramar.
Tower has grown 3,000 percent since taking off in 2011 and is on target to hit annual sales of $8.5 million by the end of 2015. Tower Paddle Boards was also recently listed as number 239 on the 2015 Inc. 500 listing and recognized as one of their "Top Ten Most Impressive Products" from the list.
The Tower brand is well known within the US, and at an exponentially growing pace worldwide, as the purveyor of the beach lifestyle. Tower creates products and services that engage and inspire the human spirit. They disrupt markets with their value proposition of selling high-quality at low cost by leveraging their online marketing expertise and their direct consumer online business model.
About San Diego Business Journal 100 Fastest Growing Companies:
Each year, SDBJ awards 100 of the most rapidly growing private companies in San Diego County. These companies are honored in a special publication and an exclusive, invite-only reception and award ceremony.