Wayfair, co-founded by Niraj Shah reaches Fortune 500
Fortune has announced its 65th annual Fortune 500 list, with Niraj Shah-led Wayfair the lone company led by an Indian American joining the newcomers.Wayfair, the online home furnishings and decor business that also has Joss & Main and Birch Lane in its portfolio of brands, was among the newcomers to the list coming in at No. 465. Last year, Wayfair was ranked 545. They have $6.8 billion in revenues, up 43.6 percent from last year`s ranking.Based in Boston, Massachusetts, the Shah-led company has over 12,000 employees. It is their first year on the Fortune 500 list.Companies are ranked by total revenues for their respective fiscal years. Included in the survey are companies that are incorporated in the U.S. and operate in the U.S. and file financial statements with a government agency.This includes private companies and cooperatives that file a 10-K or a comparable financial statement with a government agency, and mutual insurance companies that file with state regulators.