is a business research company that has provided information on U.S.
and foreign companies
. Since 1993
, the company has made its information available on its website www.hoovers.com
Hoover's maintains a database
of 23 million companies and other organizations using an in-house editorial staff of industry experts. The company derives most of its revenues from subscriptions, which are sold primarily to sales, marketing, and business development professionals. It provides less-detailed company, industry, and executive information to non-subscribers. Hoover's also publishes analytical features through its Hoover's Index pages, and its Bizmology and BIZ blogs.
Besides publishing information on its website and in its books, the company distributes information via data feeds and third-party licensing agreements. Hoover's is headquartered in Austin, Texas and also has employees elsewhere in North America, Europe, and Asia.
Origins and expansion
Hoover's was started in 1990 by Austin, Texas-based entrepreneur Gary Hoover and Patrick J. Spain. Hoover earlier had founded the Bookstop book store chain and then sold it to Barnes & Noble
. Hoover's initially was called The Reference Press; it published reference books about companies. (It still produces books for libraries and related markets, but book publishing is now a small part of the company's sales.)
The company grew under the business management of Spain who was CEO from 1993 to 2001 and chairman from 1994 to 2002.
Hoover's made an initial public offering on the NASDAQ exchange in 1999. The company is now a subsidiary of Dun & Bradstreet, which bought Hoover's for $119 million in 2003. Dun & Bradstreet reported Hoover's annual revenue as $50.0 million for 2004, $70.0 million for 2005, and $88.7 million for 2006.
Following the sale Spain launched HighBeam Research and its website highbeam.com in 2003.
Hoover's competitors are sites such as implu
In May 2001 the company moved its headquarters to the old Butter-Krust building at 5800 Airport Boulevard in Austin, Texas; the company announced the move in a press release on July 11, 2001. A complete renovation transformed the 80,000 square foot former bread making factory into office space.