Vivint

Vivint, Inc.
Private
Industry Security Systems, Fire detection, Home Automation, Photovoltaics
Founded 1997 (as APX Alarm Security Solutions Inc.)
Founder Todd Pedersen,
Keith Nelleson
Headquarters Provo, Utah
Key people
 Todd Pedersen, CEO,
Alex Dunn, president
Number of employees
 7000
Website www.vivint.com

Vivint, Inc. (formerly known as APX Alarm Security Solutions Inc.) is a private smart home services provider in the United States and Canada.[1][2][3] In 2012, The Blackstone Group acquired Vivint for more than $2 billion.[4][5] As of August 2016, Vivint had more than one million customers in the U.S. and Canada.[6][7] Vivint is listed on the Forbes list of "America’s Best Employers” and was also named one of Forbes’ “Most Promising Companies” in 2013.[8]

History

In 1999, Keith Nelleson and Todd Pedersen co-founded APX Alarm Security Solutions in Provo, Utah.[9][10] At the time, the company sold and installed security systems.[9] Vivint began retaining customers in 2006 after it became a home monitoring provider.[9] The company expanded its service to Canada that year after signing a $75 million credit facility agreement with Goldman Sachs.[11] Goldman Sachs and APX Alarm completed another credit facility agreement worth $440 million in 2009.[11] That November, the company acquired a central alarm monitoring station from Criticom Monitoring Services, a subsidiary of Protection One, in St. Paul, Minnesota.[11] APX Alarm opened a new corporate headquarters in Provo, Utah a month later.[12]

APX Alarm Security Solutions rebranded as Vivint in February 2011.[9][13] The company completed a $565 million senior debt financing led by Goldman Sachs that month.[14] Vivint also received funding from Peterson Partners and Jupiter Partners.[14] The company launched Vivint Solar, a solar energy company, in 2011.[15] The company partnered with Alarm.com early that year to deploy severe weather alerts to their customer base.[16] Vivint was acquired by The Blackstone Group in September 2012.[17][18][19][20][21][22] In 2013, Forbes ranked the company 46th in its annual ranking of "America's Most Promising Companies."[23] Vivint acquired Smartrove, a wireless mesh networking technology provider, and began wireless broadband in August 2013.[24] In October, Inc. named the company the second most job creating private company in the United States.[25] In 2013, the company created the Vivint Fellows Program, a summer internship program at the Vivint Innovation Center.[26][27][28][29]

Vivint acquired the cloud storage startup Space Monkey, a company founded by Clint Gordon-Carroll and Alen Peacock in 2014.[30]

Vivint CEO Todd Pedersen appeared on the season finale of the CBS television show Undercover Boss in February 2015.[31]

The company opened a new monitoring center in Eagan, Minnesota in August 2015.

On October 26, 2015, Vivint acquired the naming rights to the Utah Jazz's home arena, renaming the building as Vivint Smart Home Arena. The contract will last for 10 years.[32]

Peter Thiel and Solamere Capital co-led a $100 million investment in Vivint in April 2016.[33] Solamere strategic investors include Hewlett Packard Enterprise CEO Meg Whitman, Sun Microsystems co-founder Scott McNealy and former Walmart CEO H. Lee Scott, Jr..[34]

Products and services

Vivint launched its own cloud-based smart home solution, in June 2014.[35] The system provides a centralized control, a smartphone application for remote access and learning algorithms that automatically pick up on a user's patterns.[36] In 2014, the touchscreen Vivint SkyControl panel received a CE Pro BEST Award for "new custom electronic products introduced in 2014."[37] In 2015, Vivint introduced the Vivint Doorbell Camera to its smart home solution.[38] The product allows consumers to see, hear and speak with visitors on their doorstep from any mobile device.[39] The product received a 2016 Electronic House Product of the Year award.[40]

In January 2016, Vivint announced partnerships with Amazon and Nest.[41] Vivint also announced Vivint Element, its own smart thermostat, and the Vivint Ping Camera, the first indoor camera with one-touch call out.[42]

Vivint Solar

In 2011, Vivint Inc. launched a standalone company, Vivint Solar,[4] as a solar electricity provider that designs, installs, and maintains residential photovoltaic systems.[15][43] The company offers solar panels via a power purchase agreement (PPA).[44] Vivint Solar owns, installs, and maintains solar panels on customers’ homes in exchange for customers agreeing to purchase the solar energy their panels produce. Customers do not pay for installation, but pay for energy that the panel's produce, for the life of the contracts.[45] Vivint Solar is similar to other alternative solar companies like SolarCity, SunRun, and Sungevity. Its innovation in the field is the use of microinverters for each separate solar panel, allowing maximum production when some of the panels are in the shade.[46][47]

In October 2014, Vivint Solar made its initial public offering on the New York Stock Exchange under the ticker symbol VSLR.[48] In July 2015, SunEdison announced plans to purchase Vivint Solar for $2.2 billion.[49]

Vivint Innovation Center

Vivint announced a new innovation center February 2013.[50][51] The Vivint Innovation Center is the research and development arm of Vivint, Inc. It is located in Lehi, Utah in the business park adjacent to Thanksgiving Point and officially launched in October 2014.[52][53] It is staffed by approximately 400 hardware, software and radio engineers, industrial designers and user experience professionals. The Center is led by Matt Eyring, chief strategy and innovation officer; Jeremy Warren, chief technology officer; J.T. Hwang, chief information officer, and Jim Nye, vice president of product development.[54][55][56] Warren joined Vivint from 2GIG Technologies,[57] Eyring joined Vivint from Innosight, the innovation consulting firm co-founded by Harvard Business School professor Clayton Christensen, and Eyring served as a managing partner"[58]

Awards

Philanthropy

The Vivint Gives Back focuses on helping children with intellectual disabilities through intelligent products and services. Vivint employees and owners contribute time, money, and volunteer hours to perform services for these children.

In 2012, Vivint Gives Back Foundation was named the “Corporate Volunteer Program of the Year.” [63]

In April 2015, Vivint employees worked with the Feed My Starving Children organization to donate $47,000 and assemble 217,000 meal kits to feed children in Haiti. Vivint has donated a total of 800,000 meals, enough to feed more than 2,000 children for an entire year.[64]

In 2015, Vivint became the official safety sponsor for Autism Speaks, the nation’s largest autism organization.[65]

Vivint employees volunteer time and money to renovate homes for families who have children with intellectual capabilities. Employees install Vivint smart home technology in the homes and sensory rooms with developmental components such as swings, rock-climbing walls, reading nooks and art stations.[66] Since its creation in 2008, Vivint Gives Back has donated $9 million and more than 150,000 service hours.[67]

In February 2014, the company donated $2 million to the Utah Valley University to establish a professional sales program,[68] as well as a SMART Lab for marketing research.[69][70]

Legal issues

From 2009 through 2012 the company settled with the states of Arkansas,[71] Oregon,[72] Wisconsin[73] and Contra Costa County, California and agreed to conform its contracts to refrain from certain sales practices.[74]

In 2013, the company settled for $55,000 with the Kansas Attorney General, which accused sales agents of using deceptive practices while going door-to-door offering to install or replace home security systems. The agents also allegedly failed to advise the consumers of their rights under the Kansas Consumer Protection Act and did not disclose all costs associated with switching alarm system providers.[75]

The Ohio Attorney General settled with Vivint in 2013 following complaints alleging deceptive sales practices and the company's refusal to honor cancellation notices. Vivint agreed to comply with Ohio consumer laws and paid $50,000 in fines.[76] Also in 2013, Vivint agreed to an assurance of voluntary compliance in Nebraska. The company promised not to make any misrepresentations while engaging in sales. The company also donated $50,000 to two charities in Lancaster County, Nebraska.[77]

As of 2014, two federal class-action lawsuits were filed against Vivint for alleged violations of the TCPA.[78][79] In June 2014, Vivint agreed to a proposed settlement in Benzion which included a $6 million settlement fund.[80]

References

  1. ↑ Mark Dawson (June 29, 2013). "City business secures huge US linked deal". Retrieved October 19, 2014.
  2. ↑ "Vivint rapidly automating Canadian homes". Security Systems News. 1999-02-22. Retrieved 2013-10-09.
  3. ↑ "APX Alarm Security Solutions Inc. Increases Credit Facility to $440 Million". Business Wire. 2009-10-05. Retrieved 2011-06-15.
  4. 1 2 Wang, Ucilia (October 19, 2011). "Home Security Firm Enters Solar Market With $75M Fund". Forbes.
  5. ↑ "Blackstone buys security firm Vivint for over $2 billion". September 19, 2012. Retrieved October 19, 2014.
  6. ↑ "Press Release - APX Group Holdings, Inc. Reports Second Quarter 2015 Results". Business Wire. Retrieved 14 September 2015.
  7. ↑ Nancy Blair (June 10, 2014). "Vivint Sky promises easy home automation". Retrieved October 19, 2014.
  8. 1 2 "Forbes Company Profile - Vivint". Forbes. Retrieved 2 June 2015.
  9. 1 2 3 4 Antone Gonsalves (April 20, 2011). "To Sell Home Automation, Vivint Needs 'Some Aggressiveness'". Retrieved October 19, 2014.
  10. ↑ Mochari, Ilan (10 November 2014). "Move Over, Silicon Valley: Utah Has Arrived". Inc. Retrieved 13 March 2015.
  11. 1 2 3 "Vivint Sheds Light on Its Marketing Methods". June 9, 2011. Retrieved October 19, 2014.
  12. ↑ "APX Alarm Opens Second Central Monitor Station". Business Wire. 2010-04-26. Retrieved 2011-06-15.
  13. ↑ Sheila Shayon (February 25, 2011). "Goldman Sachs Stakes Vivint Rebrand as Smart Home Player". Retrieved October 19, 2014.
  14. 1 2 Tom Harvey (February 4, 2011). "APX Alarm changes name to Vivint, enters new field". Retrieved October 19, 2014.
  15. 1 2 "Vivint Solar to hire 40 in San Francisco".
  16. ↑ "Vivint Severe Weather Alerts". YouTube. 2011-06-28. Retrieved 2013-10-09.
  17. ↑ "Blackstone Announces Closing of Vivint Transaction". Blackstone.com. 2012-11-19. Retrieved 2013-10-09.
  18. ↑ "Vivint Blackstone Deal - Fox 13 Utah". YouTube. 2012-11-15. Retrieved 2013-10-09.
  19. ↑ "Vivint in top 50 of Forbes' top 100!". Security Systems News. 2013-02-20. Retrieved 2013-10-09.
  20. ↑ Jeff St. John (September 19, 2012). "Vivint, a Home Automation-Plus-Solar Player, Acquired by Blackstone for $2B". Retrieved October 19, 2014.
  21. ↑ "2013 Stevie Award Winners". Stevie Awards. Retrieved 30 October 2014.
  22. ↑ "Vivint Named Central Station of the Year at CSAA`s Annual Excellence Awards". July 11, 2012. Retrieved October 19, 2014.
  23. ↑ "Vivint Promotes Alex Dunn To President - Yahoo Finance". Finance.yahoo.com. 2013-02-06. Retrieved 2013-10-09.
  24. ↑ Julie Jacobson (August 16, 2013). "Vivint Selling Super-High-Speed Wireless Broadband Door-to-Door". Retrieved October 19, 2014.
  25. ↑ "Black Hat USA 2014". Black Hat. Retrieved 30 October 2014.
  26. ↑ "Fellows on Vimeo". Retrieved October 19, 2014.
  27. ↑ Matt Eyring (September 16, 2014). "5 Keys to Building a World-Class Internship Program". Retrieved October 19, 2014.
  28. ↑ Harry Rein (September 18, 2014). "WHY AN MIT STUDENT CHOSE AN OBSCURE INTERNSHIP OVER SILICON VALLEY". Retrieved October 19, 2014.
  29. ↑ Anders Piiparinen (October 24, 2013). "BYU intern finds and contributes to success at Vivint". Retrieved October 19, 2014.
  30. ↑ Aaron Tilley (September 10, 2014). "Smart Home Company Vivint Just Bought Cloud Storage Startup Space Monkey". Retrieved October 19, 2014.
  31. ↑ "Undercover boss Vivint". CBS Television.
  32. ↑ "LHM Sports & Entertainment Introduces Vivint Smart Home Arena for the Utah Jazz" (Press release). Utah Jazz. October 26, 2015. Retrieved October 26, 2015.
  33. ↑ "Peter Thiel and Mitt Romney invested $100 million in a company that wants to be the Apple of smart homes". Business Insider. Retrieved 22 July 2016.
  34. ↑ "This Utah Company Has Emerged As The Biggest Smart Home Player". Forbes. Retrieved 22 July 2016.
  35. ↑ Tess Nacelewicz (June 10, 2014). "Vivint launches own panel, own platform in new solution". Retrieved October 19, 2014.
  36. ↑ Chris Davies (June 10, 2014). "Vivint Sky hands-on: The Smart Home starts learning". Retrieved October 19, 2014.
  37. ↑ "2014 Best Electronics Systems Technologies". Retrieved October 19, 2014.
  38. ↑ "Vivint launches a new home automation system complete with a tiny doorbell camera". techcrunch.
  39. ↑ "Connected Doorbell Skybell". Fortune Magazine.
  40. ↑ "Product of the Year" (PDF). Electronic House. Retrieved 22 July 2016.
  41. 1 2 "Ping family and friends straight from Vivint's new security camera". PC Magazine. Retrieved 22 July 2016.
  42. ↑ "Talk to Your Vivint Smart Home With Amazon Echo". CNET. Retrieved 22 July 2016.
  43. ↑ "Vivint Solar expands PPAs into Massachusetts". Cleanenergyauthority.com. 2012-05-15. Retrieved 2013-11-15.
  44. ↑ "Solar Energy Package Details | Vivint". Vivintsolar.com. Retrieved 2013-11-15.
  45. ↑ Matt Burns (2011-10-18). "Vivint Solar Announces $75m Partnership With U.S. Bancorp, Expansion Into Three New Markets". TechCrunch. Retrieved 2013-11-15.
  46. ↑ "Solar Energy Package Details | Vivint". Vivintsolar.com. Retrieved 2013-11-15.
  47. ↑ "Array of the Week: Vivint Solar". Community.enphaseenergy.com. Retrieved 2013-11-15.
  48. ↑ "Blackstone Scores $1.1 Billion Gain in Vivint Solar Debut". Bloomberg News. Retrieved 30 October 2014.
  49. ↑ "Why SunEdison is buying Vivint Solar for $2.2 billion". Fortune Magazine. Retrieved 25 August 2015.
  50. ↑ "Utah Business". Dev.utahbusiness.com. 2013-02-18. Retrieved 2013-04-07.
  51. ↑ "Vivint Creates Vivint Innovation Center - Yahoo Finance". web.archive.org. Retrieved 2014-05-24.
  52. ↑ "Lehi-based Vivint debuts innovation facility". Deseret News. Retrieved 30 October 2014.
  53. ↑ "Vivint outgrows its Innovation Center | Security Systems News". securitysystemsnews.com. Retrieved 2014-05-24.
  54. ↑ Business Wire (2011-08-30). "Vivint Promotes Jim Nye to VP of Product Management". Business Wire. Retrieved 2013-04-07.
  55. ↑ "Vivint Creates Vivint Innovation Center". Reuters. 2013-02-15. Retrieved 2013-04-07.
  56. ↑ "Vivint Opens Innovation Center". ContactCenterWorld.com. 2013-02-18. Retrieved 2013-04-07.
  57. ↑ Sun, Apr 7, 2013, 11:58 AM EDT - U.S. Markets closed (2011-04-04). "US Department of Justice CTO Jeremy Warren Joins 2GIG Technologies(R) as CTO - Yahoo! Finance". Finance.yahoo.com. Retrieved 2013-04-07.
  58. ↑ "Vivint Ramps Up Disruptive Innovation". Retrieved 7 November 2014.
  59. ↑ "Women's Choice Awards". Best for Home. Retrieved 19 October 2015.
  60. ↑ "Hire Power list". Hire Power.
  61. ↑ "Vivint Smart Home recognized for customer service". Stevie. Retrieved 22 July 2016.
  62. ↑ "These 19 companies are the best places to work". Business Intelligence. Retrieved 22 July 2016.
  63. ↑ "Vivint Named 2012 Corporate Volunteer Program of the Year". Business Wire. 2012-04-18. Retrieved 2013-11-15.
  64. ↑ Jordan Carroll (August 20, 2014). "With employees' help, Vivint sends thousands of meals to Haiti". Herald Extra. Retrieved 18 April 2015.
  65. ↑ "Vivint Partners with Autism Speaks as Nationwide Safety Sponsor". Autism Speaks. March 3, 2015. Retrieved April 18, 2015.
  66. ↑ "Photos: Vivint employees remodel house for family, children". Desert News. October 31, 2014. Retrieved April 18, 2015.
  67. ↑ "Vivint Employees Package Meals for Special Needs Children in Haiti". Retrieved 29 September 2014.
  68. ↑ KresLynn Knouse (February 4, 2014). "Vivint's $2 million gift establishes sales program at UVU". UVU Review. Retrieved April 18, 2015.
  69. ↑ Annie Know (December 2, 2014). "UVU Opens Smart Marketing Lab". Salt Lake Tribune. Retrieved April 18, 2015.
  70. ↑ Rebecca Lane (December 18, 2014). "UVU Takes Market Research to the SMART Level". Utah Valley 360. Retrieved April 18, 2015.
  71. ↑ Antone Gonsalves. "To Sell Home Automation, Vivint Needs 'Some Aggressiveness'". Retrieved November 23, 2014.
  72. ↑ "Salem alarm company fined". Retrieved November 23, 2014.
  73. ↑ "Security firms settle with state". September 27, 2012. Retrieved November 23, 2014.
  74. ↑ "Oregon Department of Justice - SETTLEMENT REQUIRES SECURITY ALARM COMPANY TO PAY $60,000 AND STOP MISLEADING AND AGGRESSIVE SALES TACTICS". Doj.state.or.us. 2010-04-28. Retrieved 2013-11-15.
  75. ↑ "Home security company fined for consumer protection allegations". Retrieved November 23, 2014.
  76. ↑ "Ohio Attorney General's Office Consumer Protection Section". Retrieved November 23, 2014.
  77. ↑ "Utah home security company agrees to pay $50K". June 4, 2013. Retrieved November 23, 2014.
  78. ↑ "Johansen v. Vivint, Inc. :: Illinois Northern District Court :: Case No. 1:12-cv-07159, Judge Marvin E. Aspen presiding". plainsite.org. Retrieved 2014-05-24.
  79. ↑ "Benzion et al v. Vivint, Inc. :: Florida Southern District Court :: Case No. 0:12-cv-61826, Judge William J. Zloch presiding". plainsite.org. Retrieved 2014-05-24.
  80. ↑ "Announces a Proposed Class Action Settlement for All Persons Who Received a Call(s) Advertising Vivint Goods or Services". PR Newswire. Retrieved 30 October 2014.

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