Every year, Utah Business spotlights trailblazers of the state’s business ecosystem. Its annual Fast 50 event recognizes the 50 fastest-growing companies in Utah based on their five-year revenue and compound annual growth rate. The 2023 Fast 50 list is out, and Extra Space Storage has proudly secured its spot at number 43.
The Fast 50 list features established businesses selected for their remarkable growth in revenue and overall earnings. To make the cut, these organizations must have a track record of doing business for at least five years. Additionally, a handful of companies are also acknowledged for their notable growth as emerging powerhouses—businesses that have not yet crossed the five-year mark but have showcased outstanding growth trajectories. All rankings, including that of Extra Space Storage, will be showcased in the September issue of Utah Business magazine.
“One of the most exciting things, for me, being part of Extra Space is the growth of the organization,” Chief Marketing Officer Samrat Sondhi shared when asked about the company’s journey. “I started here in 2001 when we had about 200 stores, and we were a $200 million public company, and today we’re a $45 billion company.”
This year, Extra Space Storage achieved a notable milestone by becoming the largest self-storage company through a strategic merger with Life Storage. Our expansive portfolio now consists of over 3,500 stores nationwide. We’re also proud to be Utah’s largest publicly traded company based on market capitalization. This remarkable success is a testament to the dedication and efforts of our exceptional leadership and team members.
“In this journey, I have had multiple roles, built lots of friends and colleagues, and a network of people I enjoy working with, Sondhi continued. “I really enjoy being here, and that’s what Extra Space has offered me.”
Thank you to Utah Business for spotlighting the diligence and innovation that drive Utah companies forward. And a special thanks to our dedicated team at Extra Space Storage. Your passion and commitment are the backbone of our growth and success. Here’s to celebrating our accomplishments today and forging ahead to new achievements tomorrow!
All 2023 Fast 50 winners and their rankings can be viewed here and will be featured in the September 2023 issue of Utah Business magazine.