CEO who raised minimum wage to $70,000 sees revenues double

With revenue growing at twice the previous rate, and profits doubling, the CEO who raised his company’s minimum wage to $70,000 (£46,000) has been justified in his decision.

According to Inc, the increase in revenue and profits has been accompanied by the loss of a few customers, but Gravity's customer retention rate has risen four per cent in the second quarter, from 91% to 95%.