Skip to main content


Showing posts with the label Moves

VC Firm Bessemer Raises $3.3B, Adds Amazon's Jeff Blackburn As Partner

Silicon Valley venture capital firm Bessemer enture Partners has made new major moves that include adding $3.3 billion of capital to its investment coffers and appointing Jeff Blackburn, a long-time top Amazon executive and lieutenant of Jeff Bezos who just recently announced his departure from Amazon, now as a partner at the venture firm. Bessemer raised $3.3 billion with two separate funds, the first a fund named BVP XI  that raised $2.475 billion and the second a fund named  BVP Century II that raised $825 million. The majority of the new funds will be used for early-stage investments consistent with Bessemer's practice of starting with seed and Series A rounds for companies and then following up with late-stage investments. Bessemer now counts Jeff Blackburn as a Partner, with Blackburn joining the firm after a 22-year career at Amazon where he rose to become one of the company's highest-ranking executives. Before announcing his departure just this month, Blackburn served

Velodyne Lidar's Founder Ousted, Fights Back

Velodyne Lidar, the leading maker of lidars for autonomous vehicles in the US, is in the midst of a leadership tussle that's seen its founder and biggest shareholder David Hall pushed out from his position of Chairman at the company along with his wife Marta Hall who held the position of Chief Marketing Officer at Velodyne. David and Marta Hall were pushed out from Velodyne after a board investigation that brought accusations of the couple behaving "inappropriately" and acting without "respect, honesty, integrity and candor” when interacting with other officers and directors at Velodyne as claimed by the company's board. As they were pushed out, Velodyne named a new Chairman and another new board director. In response to his ouster, Velodyne founder David Hall put out a press statement  accusing his company of staging a "boardroom ambush" to reprimand him and his wife "based on an opaque, secret investigation into baseless, unfounded claims".

GameStop's CFO To Depart, With Big Exit Package

Barely a month after a stock trading frenzy that sent the shares of video games and electronics retailer GameStop soaring high and highly volatile to then become the talk of the town, the company's chief financial officer (CFO) Jim Bell has announced his resignation from the company, with the reason behind his departure not stated. Bell who has served as GameStop's CFO for less than two years will step down from his role formally on March 26, 2021, and leave the company. He noticeably held the role of CFO for a short period and it's unclear if GameStop's recent stock market frenzy is a contributing factor to his departure. As Bell is resigning from GameStop, he isn't leaving on shaky grounds or at least monetarily-wise. According to filings, he'll be getting an upfront $15.8 million pay package when he departs, split into $2.8 million in severance and an immediate payout of restricted shares worth $13 million once he leaves.  Then, Bell could still collect an

Footwear Startup Allbirds Adds Glossier's Emily Weiss To Board

Allbirds, a venture-backed startup that's carved a lucrative market for itself selling eco-friendly footwear, has added new board members including Emily Weiss, the founder and CEO of the popular venture-backed makeup brand Glossier. Weiss was added alongside Mandy Fields, the chief financial officer (CFO) of cosmetics brand e.l.f Beauty. With Weiss and Fields joining Allbirds' board, the eco-friendly footwear brand now counts eight members on its board. Though the new board additions may seemingly hint at cosmetics ambitions for Allbirds, the company's Co-CEO Tim Brown has clarified that it has no plans to get into that market. Likely, Weiss has been tapped for an Allbirds board position thanks to her position of founding and building a venture-backed, high-growth direct-to-consumer brand. It's notably her first board seat outside Glossier, the popular cosmetics brand she founded. Weiss built Glossier from the ground up starting from a beauty blog known as " Into

Electronics E-Tailer Enjoy Hires CFO, Hints At IPO

Enjoy Technology, an  online  electronics retailer founded by an executive who previously the head of Apple's retail business and also the CEO of retailer JCPenney, has moved to hire its first Chief Financial Officer (CFO) in what hints at plans to go public soon.  Enjoy has hired Fareed Khan as its CFO, with Khan joining the company from Parallel, a consumer goods company. Previously, Khan held respective roles as the CFO of the food giant Kellogg's and food distribution giant US Foods, which he guided through a public listing.  With Khan's experience in managing and guiding public companies as a finance head, it seems that Enjoy has hired him to help prepare it for a public listing. Enjoy is a venture-backed startup that's raised over $350 million in funding and it seems that its investors would likely be calling for an exit for their stakes in the company, wherein a public listing is one of the most common ways to do that. Fareed will oversee Enjoy's global finan

Private Equity Firm Apollo Adds Ex-SEC Chairman Jay Clayton To Board

It seems that the revolving door between top government jobs and those in the high classes of the finance industry is still open, as Apollo Global Management, a private equity giant with over $455 billion under management, has appointed Jay Clayton as Lead Independent Director of its board. Clayton is  the former Chairman of the US Securities and Exchange Commission (SEC) who served under the just concluded Trump administration. Apollo created a new role for Clayton, whose appointment comes shortly after the private equity firm's co-founder and long-time face of the company Leon Black penned his resignation after an investigation regarding his ties to the late American financier and convicted sex offender Jeffrey Epstein. Black was subject to an investigation after revelations of his dealings with Epstein that involved payments from Black to Epstein to the tune of $158 million . With Black's resignation, it seems that Clayton's appointment to a newly created role of Lead  I

SoftBank Poaches Microsoft's Corporate VC Head

The head of Microsoft's corporate venture capital arm, M12, is leaving the company after being hired by the SoftBank Vision Fund, the mammoth $100 billion investment fund formed by the Japanese tech conglomerate SoftBank. Nagraj Kashyap is leaving M12 to take on the role of managing partner at the SoftBank Vision Fund. Bloomberg News first reported of Kashyap's departure and new job on Monday. Joining SoftBank, Kayshap has made a significant step further in his venture capital and investment career that has spanned companies including Microsoft and the chipmaking giant Qualcomm. Before joining Microsoft in 2016 to head its corporate venture fund, Kayshap led Qualcomm Ventures for 12 years. Now, after long stints at the corporate venture arms of two tech giants, Kayshap is joining another venture arm of a tech conglomerate, this time a mammoth $100 billion fund that has deployed tens of billions of dollars into many technology companies. As a managing partner, Kayshap will over

Jeff Bezos To Step Down As Amazon CEO

In a very noteworthy move, Amazon's founder and long-time CEO Jeff Bezos has announced that he'll be stepping down from his role as CEO in the third quarter of 2021 and become the Executive Chairman of the e-commerce giant he founded. He'll be replaced by Andy Jassy, the current CEO of Amazon Web Services (AWS). Andy Jassy has for long been considered the second in command and heir to the Amazon empire after Bezos and this has just been proven. As he steps down, Bezos says that he'll remain involved in Amazon initiatives but now spend more time on his other projects such as the aerospace company Blue Origin, newspaper The Washington Post, and philanthropic initiatives. Bezos will definitely be stepping down in grand style from the mere online bookstore he founded 27 years ago and built into a mammoth e-commerce and technology company. Taken public in 1997, Amazon is currently one of the most valuable publicly-traded companies worldwide, with a market cap of $1.7 trilli

Salesforce Shuffles Leadership Team; CFO Departs

Salesforce, the cloud enterprise software giant that's on the cusp of a deal to buy Slack for $28 billion , has shuffled its leadership team as the company's long-time chief financial officer, Mark Hawkins, has announced his departure. Hawkins is stepping down from the CFO role after over six years at Salesforce and leaving the company for said retirement. Hawkins is leaving after overseeing a period of unprecedented growth for Salesforce, wherein the company's market cap has burgeoned from around $30 billion in 2014 now to over $200 billion. As CFO, he has helped steer a lot of big acquisitions that drove Salesforce's growth. Hawkins will now be replaced in his role of CFO by Salesforce's chief legal officer, Amy Weaver. He'll remain Salesforce's CFO emeritus until October 2021 before he finally departs the company. Mark Hawkins Monetary-wise, Hawkins has done very well for himself, pulling in tens of millions of dollars in compensation over his six years

Intel Has A New CEO: VMware's Pat Gelsinger

The chipmaking company Intel has chosen a new Chief Executive Officer (CEO) to replace its current leader Bob Swan who has held his role for two years. That new CEO is Pat Gelsinger who's famous for being the CEO of VMware since 2012. He'll now leave VMware to join Intel, a company that he previously worked at in a top position. Gelsinger is well-recognized for his leadership at VMware, during which he significantly transformed the company into a global leader in the cloud infrastructure and other related markets. During his eight-year tenure, VMware's annual revenue grew from $4.6 billion to $10.8 billion. Gelsinger isn't new to Intel as he was once the Chief Technology Officer (CTO) of the chipmaking company before leaving for EMC and then VMware. Now, he's coming back as the company's CEO, hoping to position it strongly in an era of transformations and improvements in the semiconductor industry. Gelsinger began his tech career at Intel and rose to become the

Gary Cohn Appointed IBM Vice Chairman

Gary Cohn, the former President of the banking firm Goldman Sachs and economic advisor to US President Donald Trump, has been appointed as the Vice Chairman of IBM, a press statement from the company notes. Cohn will join IBM's board and its Executive Leadership Team to work as an advisor to IBM's CEO, Arvind Krishna. IBM marks the seventh board position that Cohn will concurrently hold, the other six being Abyrx, Gro Intelligence, Indago, Nanopay, Starling, and Pallas Advisors. IBM particularly will mark the second major and publicly-traded company that Cohn will help guide, the first being Goldman Sachs where he served as President and Chief Operating Officer (COO) from 2006-2016. He left Goldman to take up a job at the Trump White House administration in 2017 but only lasted a year and a few months there. As a highly recognized name in the finance industry, Cohn marks a noteworthy addition to IBM's team.  "I am honored to be joining IBM, one of the world's most

Qualcomm's CEO To Step Down

The chipmaking giant Qualcomm has kicked off 2021 with a leadership change that entails its six-year running CEO Steve Mollenkopf stepping down this year. Mollenkopf has announced that he's retiring from Qualcomm effective on the 30th of June, 2020, and will handover the CEO position to Qualcomm's current President Cristiano Amon. Mollenkopf  is leaving Qualcomm after six years as CEO and 26 years employed with the company and handing over to an incoming CEO that's spent 25 years at Qualcomm and is the company's current President. Mollenkopf began working at Qualcomm in 1994 as an engineer and worked his way up to the CEO position with a tenure that saw Qualcomm strengthen itself as a leader in chipmaking for smartphones. He was also instrumental in diversifying Qualcomm from mobile into newer segments like IoT and Autos. Under  Mollenkopf, Qualcomm notably sparred with  Apple in a legal battle that ended in a lucrative settlement of at least $4.5 billion . He also fac

VMware Sues Ex-COO Who's Now Nutanix's CEO

The cloud software giant VMware has filed a lawsuit against Rajiv Ramaswami, its former Chief Operating Officer (COO) who took up the job of CEO at a competing cloud company, Nutanix, just this December. VMware has filed a suit in the Superior Court of the State of California, County of Santa Clara, against Ramaswami, alleging "material and ongoing breaches of his legal and contractual duties and obligations to VMware." VMware claims that Ramaswami secretly met with executives and board members of Nutanix in preparations to take up the job of CEO for "at least two months" before he left VMware and at the same period wherein he worked to shape VMware's strategic direction. VMware says that Ramaswami didn't disclose his meeting with Nutanix executives and board members which posed a conflict of interest given that Nutanix is a rival to VMware. "Mr. Ramaswami demonstrated poor judgement and had a clear and extended period of conflict of interest," VMw

Ginni Rometty Out As IBM Chairman

Ginni Rometty, the former longtime CEO and Executive Chairman of IBM, will now step down from her role as Chairman effective on the 31st of December, 2020, IBM has announced . The role will be transferred to IBM's current CEO Arvind Krishna who has held his position for less than a year. Rometty had been IBM's chief executive officer since 2012 before she stepped down in January this year. During her tenure, she oversaw major changes and initiatives at IBM including the $34 billion acquisition of Red Hat that marked IBM's biggest acquisition in its 200-year plus history. Rometty stepped down from her CEO position and handed the role to Krishna, an IBM veteran who has been with the company for three decades. Before becoming CEO, he had been a senior vice president at IBM and helped steer the company's acquisition of Red Hat. Recently, Krishna made a landmark decision, announcing a spin-off of IBM's $19 billion Managed Infrastructure Services business as a separate pu

Oracle Moves HQ To Texas

The enterprise software giant Oracle has indicated in a filing to the SEC that it's relocated its headquarters from the state of California to Texas, making it the latest among a handful of companies that have moved their headquarters out of California this year. Oracle has changed its corporate headquarters from Redwood City in California to Austin in Texas. Oracle already has a huge campus in Austin with thousands of employees so it doesn't seem that the company will be making extensive employee relocations as it's moved to the city. The company has simply changed its corporate headquarters from Redwood City, where it houses 6,500 employees and is the largest employer in the city, to Austin where it opened a campus in 2018 that it said would house 10,000 employees. Oracle's move comes in a year wherein a Covid-19 pandemic has accelerated remote work across the US and provided more flexibility for employees, particularly those from the tech industry, to work from vary

Elon Musk Said To Plan Move To Texas

The Tesla and SpaceX founder Elon Musk has told several of his close associates and friends that he's looking to officially move to the state of Texas, CNBC reports , whereas such a move wouldn't be surprising, given that Musk has hinted at moving to the state in the past. Earlier this year and in the early months of the Covid-19 pandemic, Musk notably tweeted that the electric maker he chairs, Tesla, will move from California to Texas after he got into a spat with regulators in California over Covid-19 restrictions. Frankly, this is the final straw. Tesla will now move its HQ and future programs to Texas/Nevada immediately. If we even retain Fremont manufacturing activity at all, it will be dependen on how Tesla is treated in the future. Tesla is the last carmaker left in CA. — Elon Musk (@elonmusk) May 9, 2020 Also this year, Musk put up his seven California homes for sale  after tweeting that he's selling "almost all physical possessions" and "

Tanium, HPE Move HQ From California

The cybersecurity company Tanium and the IT giant Hewlett Packard Enterprise (HPE) are the latest companies to announce the move of their headquarters away from the state of California, with Tanium departing from the city of Oakland to Kirkland in the state of Washington and HPE departing from the city of San Jose to Houston in Texas. The move from Tanium and HPE comes as the acceleration of remote work spurred by the Covid-19 pandemic have made companies to reconsider staying in higher-cost cities. Tanium will now move to an office building in Kirkland that'll serve as its headquarters while HPE will maintain its already-large office presence in Houston but now as its headquarters. For HPE, the company says no layoffs will be made as part of its move and that it'll retain its Silicon Valley campus as a major R&D center. HPE notably employs tens of thousands of people worldwide with a majority in the US while Tanium employs a much lesser 1,500 people globally, also majorly

FCC Chairman Ajit Pai To Leave Next Year

Ajit Pai, the current Chairman of the US Federal Communications Commission (FCC), has formally announced plans to leave the commission when the next US administration led by President-elect Joe Biden is inaugurated on the 20th of January. He'll leave after three years as the FCC's Chairman and eight years in total serving at the commission. “It has been the honor of a lifetime to serve at the Federal Communications Commission, including as Chairman of the FCC over the past four years,” Pai said in a statement. “To be the first Asian-American to chair the FCC has been a particular privilege. As I often say: only in America.” Pai joined the FCC under the administration of then-President Barack Obama in May 2012. He was appointed five years later as the commission's Chairman under the [now outgoing] Trump administration.  As Chairman under Trump, Pai oversaw landmark events including the merger of the two telecom giants T-Mobile and Sprint. He notably put into place new measur

More Tech CEOs Decamp From SF

The CEOs of technology companies Splunk, Brex, and Dropbox are set to leave the city of San Francisco for other cities including Austin and Los Angeles, The Information reports . According to the technology news site, the CEOs of Dropbox and Splunk both recently purchased homes in the city of Austin, Texas and plan to make there their permanent residence.  Likewise, Brex's 20-something co-founders Pedro Franceschi and Henrique Dubugras have decamped to Los Angeles and don't plan to renew their fintech company's San Francisco office lease next year, The Information reports. The reported decampments from San Francisco point to a broader trend whereby a significant number of companies and entrepreneurs have left San Francisco, which is famous for housing numerous technology companies, to other cities. For such people, the city of Austin in Texas seems to be a major attraction and just recently took in a newcomer who is the Palantir co-founder and the founder of venture capi

Ezra Klein To Depart Vox Media

Ezra Klein, a Vox Media executive and co-founder of the popular news site, has announced that he's departing Vox Media after six years at the company to join The New York Times, where he'll primarily work on their 'Opinion' segment "writing a reported column on policy and the policymaking process, and hosting an interview podcast," by his own words. Klein announced his move from Vox Media on Twitter, where he termed helping build as being "the great privilege of my journalistic life". He co-founded the popular left-leaning news site [as regards American politics] in 2014 together with journalists Melissa Bell and  Matt Yglesias. Notably, Yglesias announced his departure from just last week, with Klein now following.  Helping to build @voxdotcom has been the great privilege of my journalistic life. It is so much more than I ever could have imagined, and that’s because of the insanely creative, committed people who work the

Most Read Posts

Okta Buys Cloud Security Startup Auth0 For $6.5B

A very big new acquisition has happened in the tech industry, with Okta (NASDAQ: OKTA), the publicly-traded cloud identity and access management software provider, announcing an agreement to buy Auth0, a fellow cloud identity software provider, for a price of $6.5 billion to be paid all with shares. A $6.5 billion exit for Auth0 marks a major win for the startup scene in Seattle, the tech hub where Auth0 is based and also a major win for the company's backers and investors. Auth0 last raised venture funding last year in July with a $120 million Series F round that valued the company at $1.9 billion. Now, it's about to sell for more than triple that amount. Auth0 has raised more than $330 million in total venture funding, with investors including the likes of Salesforce Ventures, Bessemer Venture Partners, Telstra Ventures, Sapphire Ventures, and DTCP. Salesforce Ventures led Auth0's most recent $120 million Series F round. With its acquisition of a fellow cloud identity a

Exec Pay: Coinbase CEO Earned $60M In 2020

The popular cryptocurrency exchange Coinbase recently released its S-1 filing to the SEC in preparation for a public offering that's expected to come soon, with the S-1 filing providing a peek into its financials and operational stats with information not publicly known before. The core information to have been revealed by Coinbase's S-1 filing is that the company is very profitable, posting a net income of $322 million on $1.28 billion in revenue in 2020. The popular crypto exchange swung from a $30 million loss in the previous year 2019 and grew its annual revenue from $533.7 million to $1.28 billion over the year. Among the noteworthy disclosures to have come from Coinbase's S-1 filing is that the company's founder and CEO Brian Armstrong pulled in a big compensation package of nearly $60 million in 2020, precisely $59.5 million.  Brian Armstrong's $59.5 million pay package consisted of a base salary of $1 million, stock options awards of $56.7 million, and $1.

Peter Thiel Cashes Out Big From Palantir

After taking his data analytics and mining company, Palantir, public last year, it seems that Peter Thiel is keen on cashing out significantly from his stake in the company after getting an opportunity to do so on the public markets.  Thiel founded and helped build Palantir from the ground up into a data analytics powerhouse with annual sales of over $1 billion.   Palantir stayed as a private company for 17 years before hitting the public markets. According to regulatory filings and records , Peter Thiel has sold over $780 million of Palantir shares since the company began trading on the New York Stock Exchange (NYSE) in September 2020.  Thiel's largest single sale transaction was an offloading of 20 million shares for $504.8 million on the 19th of February, 2020. His second-largest was the sale of 23 million shares in a transaction netting around $236 million on the 30th of September, 2020, which was the very day Palantir began trading on the NYSE. Altogether, Thiel has netted mor

Deal: Twilio Bets $750M On Mobile Comms Provider Syniverse

Twilio, the publicly-traded cloud communications company, has sought to strategically team up with an old-guard provider of mobile and wireless communications technology named Syniverse, with a formal business partnership just  announced between both parties that'll see Twilio invest up to $750 million for a minority stake in Syniverse under its terms. Twilio has agreed to invest up to $750 million in cash for a minority stake in Syniverse, buying the stake from the company's current owner which is the private equity firm Carlyle Group. The partnership between Twilio and Syniverse will see both companies enter into a major business partnership that entails a wholesale agreement whereby Syniverse will process, route and deliver application-to-person (A2P) messages originating and/or terminating between Twilio’s customers and mobile network operators. On Syniverse's end of the deal, the company is getting a business boost by providing services for Twilio which is one of the

American Drone Maker Skydio Raises $170M, Valued At $1B+

Skydio, an American startup that makes autonomous drones, has closed a new funding round of $170 million that values it above $1 billion. The round was led by the famous venture capital firm Andreessen Horowitz, with participation from existing backers Next47, IVP, and Linse Capital, plus a new investor UP.Partners. Andreessen Horowitz led the new Series D round for Skydio from its Growth Fund, and with it, Skydio has now raised a total of over $340 million in external funding and then with a $1 billion+ valuation that makes it the highest-valued drone startup in the US. It seems that Skydio has drawn wide investor attraction after the US government placed China's DJI on a blacklist last year. DJI made its mark as the biggest drone maker globally and the largest in the US market but got placed on a government Entity List last year that barred American companies from supplying it with components. The blacklist was instituted by the former Trump administration due to alleged ties to

IPO Chatter: Hot Cybersecurity Startup SentinelOne

The latest company to get into the center of chatters and rumors of an imminent public listing is SentinelOne , a Mountain View-based cybersecurity startup that's made a mark as one of the hottest of its kind with investor attraction. SentinelOne is preparing for a soon public listing that could value it at more than $10 billion and has begun interviewing banks for potential roles in its public listing, according to a report from Bloomberg . It's said that SentinelOne could list even as soon as this very year. SentinelOne is part of a cohort of technology startups that have brought artificial intelligence to the field of cybersecurity, using AI to detect and protect companies from cybersecurity threats and breaches. The company has roots in Israel, a major cybersecurity hub, and was founded in 2013. SentinelOne has been a hot startup for venture backers, drawing around $700 million in private funding of which a majority was raised just in the past two years. The Mountain View

Carmaker Volvo To Go Fully Electric By 2030

The latest global automaker to commit to transitioning to a fully-electric production output in the future is Swedish carmaker Volvo, which has announced plans to become a fully electric car company by 2030. By then, the company says it intends to have phased out any car in its portfolio with an internal combustion engine, including hybrids, and transition to producing fully electric cars. The announcement of Volvo's grand plan comes a year after the company launched its first fully electric car, the XC40 Recharge , around the globe, and with just one fully electric car in its product portfolio now, it's apparent that the automaker would need to put in hard work to achieve a fully-electric portfolio in nine years time. To work towards its goal, Volvo has announced that it'll roll out 'several' additional electric car models in the coming years, the word several making the number indistinct. The Swedish automaker is aiming for fully electric cars to make up half of

Velodyne Lidar's Founder Ousted, Fights Back

Velodyne Lidar, the leading maker of lidars for autonomous vehicles in the US, is in the midst of a leadership tussle that's seen its founder and biggest shareholder David Hall pushed out from his position of Chairman at the company along with his wife Marta Hall who held the position of Chief Marketing Officer at Velodyne. David and Marta Hall were pushed out from Velodyne after a board investigation that brought accusations of the couple behaving "inappropriately" and acting without "respect, honesty, integrity and candor” when interacting with other officers and directors at Velodyne as claimed by the company's board. As they were pushed out, Velodyne named a new Chairman and another new board director. In response to his ouster, Velodyne founder David Hall put out a press statement  accusing his company of staging a "boardroom ambush" to reprimand him and his wife "based on an opaque, secret investigation into baseless, unfounded claims".

2020: DraftKings Reports Strong Revenue Growth

DraftKings, a popular sports betting site in the US, has reported its earnings results for what's its first fiscal year as a publicly-traded company after going public through a merger with a special-purpose acquisition company (SPAC) last year. It reported $322 million in 2020 revenue, up 98% from the previous year. DraftKings' annual revenue soared high in 2020 compared to the past year as it capitalized on a stronger betting market spurred by the legalization of online sports betting in more American states for growth. The company also did well getting new customers in existing legalized sports betting markets in the US. For example, the state of Tennessee formally legalized mobile and online sports betting on the 1st of November, 2020 and saw DraftKings immediately swoop into the market. In just the first two months operating in the state, DraftKings processed over $300 million in bets, its earnings report noted. In 2021, DraftKings held successful launches in the states of

Smart TV Maker Vizio Files To Go Public

Vizio, a well-known maker of smart TVs and other complementary equipment such as soundbars, has filed an S-1 with the US Securities and Exchange Commission (SEC) for a public listing, seeking to do so for the second time after having previously filed to go public in 2015 but later withdrew its plan in lieu of a $2 billion sale agreement to a Chinese company that unfortunately didn't pan out. The market for technology IPOs has been very hot as of late and it seems that Vizio is coming in at the right time to capitalize on that hotness. A popular maker of smart TVs, Vizio has sold over 80 million TVs and 11 million soundbars since the company's inception, as indicated in its S-1 filing. The company sold 7.1 million TVs in 2020 alone. Vizio has strong revenues and is profitable, reporting $102 million in net income on over $2 billion in revenue in 2020. In the previous year, 2019, Vizio reported a net income of $23 million on $1.8 billion in revenue. Most of Vizio's revenue c