Zagg

ZAGG Inc
Public
Traded as NASDAQ: ZAGG[1]
Russell 2000 Component
Industry Consumer Electronics Accessories
Founded Salt Lake City, Utah, United States
Headquarters 910 West Legacy Center Way, Suite 500, Midvale, Utah
Key people
 Chris Ahern, CEO and Director [2]
Products Screen protectors, Mobile phone accessories
Revenue $264.4 million in 2012, 1Q 2013 $51.5 million
Number of employees
 543 [3]
Subsidiaries

IFrogz[4][5]

Mophie[6]
Website zagg.com

ZAGG Inc is a publicly traded company based in Midvale, Utah. It is best known for its line of protective coverings for consumer electronics and hand-held devices under the brand name InvisibleShield.[1][7]

History

The company's flagship product, the InvisibleShield, was created by Phillip Chipping, who then formed Protective Solutions, Inc. in March 2005[8] and started selling the InvisibleShield product online, and in locally owned gadget retailers. The company began in a back yard shed, selling $200 worth of goods per day.[9] A few months later, in September 2005 (two weeks after Apple Inc. had released the first iPod nano) the company sent out a press release[10] announcing their concept of offering full-body gadget protection with a patented, clear protective film as a new alternative to bulky cases. Due to the high level of response, the company began designing full-body InvisibleShields for many different types of electronic gadgets.[11][12]

In January 2006, Chipping brought in Robert G. Pedersen II, a friend and mentor who previously acted in an advisory capacity, as a partner with the title of CEO, while Chipping retained the title of president and founder. Later that year, after buying out Chipping, Pedersen became the largest shareholder. In 2010, he was also named the Ernst & Young's Entrepreneur of the Year.[13] In August 2012, Pedersen stepped down as CEO and Chairman following a margin call, and Randall Hales, previously President and COO, became interim CEO. In December 2012, Hales was named CEO by the Board of Directors. As of June 2013, the company has over 250 employees.[1][14]

The company changed names to become ShieldZone Corporation in March 2006 and then again to ZAGG Inc in July 2007. The most recent name change coincided with a reverse merger that made ZAGG a publicly traded company on the OTC Bulletin Board exchange with ZAGG as its stock symbol.[10] On November 10, 2009; it was listed on the NASDAQ Market.[15] In 2011, the company acquired IFrogz.[4][5]. The company acquired mobile accessory company Mophie in 2016.[16]

In March 2018, Randall Hales who served since 2012 as CEO of Zagg resigned. At his resignation, the Board of Directors appointed Chris Ahern to be the CEO. Ahern formerly was serving as the head of the Mophie brand and international business.[17] Months after in 2018, Zagg announced their acquisition of BRAVEN Audio, a brand of bluetooth speakers, from Incipio Group.[18]

Products

The InvisibleShield is the flagship product of the company and is now sold in many countries. In 2008, it started selling its products in well-known retailers such as Best Buy[19] and Carphone Warehouse.[20] It is currently available in all four major wireless retailers: AT&T,[21] Verizon Wireless,[22] Sprint,[23] and T-Mobile.[24] For their InvisibleShield products, Zagg will cover a broken screen up to $100 if the product fails.[25]

In November 2008, the company launched a new audio product line, ZAGGaudio. It currently contains two types in-ear headphones, ZAGGsmartbuds and ZAGGaquabuds. Their former product, ZBuds, won a 2009 CES Innovations Design and Engineering Showcase Honors award.[1][26]

In 2011, the company launched the ZAGGmate, a dual-purpose case for the Apple iPad, that also serves as a wireless Bluetooth keyboard. The product won the Macworld 2011 Best of Show and was named an Honoree at the CES Innovations 2011.[27][28] Later that year, the company announced a licensing and distribution agreement with Logitech,[29] and also released two other iPad bluetooth keyboards for the iPad 2 and New iPad.[30]

Financials

Zagg Inc (ZAGG) is traded on the NASDAQ. Zagg currently has over 500 employees and is in the Specialty Retail industry and Consumer Cyclical sector.[31]

References

  1. 1 2 3 4 Zubasti, Mohammed (2011-12-21). "Zagg Stock Falls On Unusually High Volume (ZAGG)". TheStreet.com. Retrieved 2012-01-05.
  2. ↑ https://finance.yahoo.com/quote/ZAGG/profile?p=ZAGG
  3. ↑ https://finance.yahoo.com/quote/ZAGG/profile?p=ZAGG
  4. 1 2 Huskinson, Scott (2011-03-22). "ZAGG Acquires iFrogz". Business Wire. Retrieved 2012-04-04.
  5. 1 2 Oberbeck, Steven (2011-06-04). "Investors like Zagg's acquisition of Utah's iFrogz". The Salt Lake Tribune. Retrieved 2012-04-04.
  6. ↑ "ZAGG - Press Release".
  7. ↑ Wallerius, Serra (2011-12-12). "ZAGG InvisibleSHIELD Installation Challenge". TekGoblin. Retrieved 2012-01-05.
  8. ↑ Wallace, Bruce (2005-12-20). "Firm seeks a scratch-free world". Deseret News. Retrieved 2012-04-04.
  9. ↑ Clark, Emily (2011-12-29). "Made in America: ZAGG". ABC News 4. Archived from the original on 2013-09-06. Retrieved 2012-04-04.
  10. 1 2 http://www.allbusiness.com/electronics/consumer-household-electronics-portable/5071175-1.html
  11. ↑ "Review: InvisibleShield for iPod".
  12. ↑ "Protective Solutions Announces invisibleSHIELD for the Apple iPod with Video".
  13. ↑ http://utahpulse.com/featured_article/zagg-ceo-robert-g-pedersen-ii-named-ernst-young’s-2010-entrepreneur-of-the-year
  14. ↑ "ZAGG Incorporated (ZAGG) Company Profile - CorporateInformation.com".
  15. ↑ "ZAGG Listed on NASDAQ Global Market - Business Wire".
  16. ↑ "Zagg Acquires Mophie For $100M+". Techcrunch. Retrieved 16 October 2017.
  17. ↑ Schultz, Clark (2018-03-07). "Zagg CEO steps down". Seeking Alpha. Retrieved 2018-08-23.
  18. ↑ Johnston, Lisa (2018-08-03). "Zagg Picks Up Braven From Incipio". Twice. Retrieved 2018-08-23.
  19. ↑ "InvisibleShield(TM) to Be Available in Best Buy Stores Nationwide". Reuters. 2008-07-09.
  20. ↑ "ZAGG's invisibleSHIELD Now Available at the Carphone Warehouse".
  21. ↑ http://investors.zagg.com/releasedetail.cfm?ReleaseID=482964
  22. ↑ Ramsley, Walter (15 January 2011). "American Growth Stocks: Zagg ( Nasdaq - ZAGG ) -- Penetrates Verizon Retail Stores".
  23. ↑ http://investors.zagg.com/releaseDetail.cfm?ReleaseID=576215
  24. ↑ "ZAGG Announces Distribution in T-Mobile USA Stores Nationwide - Business Wire".
  25. ↑ "ZAGG Will Pay Toward Your iPhone Screen Repair if InvisibleShield Fails to Protect It". digitaltrends.com.
  26. ↑ "Z.buds earphones from ZAGG, like V-moda Vibe II 'cept cheaper".
  27. ↑ http://investors.zagg.com/releasedetail.cfm?ReleaseID=546445
  28. ↑ http://investors.zagg.com/releasedetail.cfm?ReleaseID=528830
  29. ↑ http://investors.zagg.com/releasedetail.cfm?ReleaseID=563245
  30. ↑ "Wireless Bluetooth Keyboard - Tablet Keyboard Case - ZAGG".
  31. ↑ "ZAGG Profile | ZAGG Inc Stock - Yahoo Finance". finance.yahoo.com. Retrieved 2018-10-12.
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