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Todd Pedersen

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Todd Pedersen
Born
Todd Richard Pedersen

(1968-11-23) November 23, 1968 (age 56)
Seattle, Washington, US
Alma materBrigham Young University
OccupationCEO of Vivint
Years active1997–present
SpouseAndie Pedersen
Children5

Todd Richard Pedersen (born November 23, 1968) is an American entrepreneur and the founder of Vivint, Inc., a home automation, security and energy company. Vivint, Inc. was acquired in late 2012 by the Blackstone Group.[1]

Biography

Todd Pedersen was born in Seattle, Washington, the fourth of eleven children, and grew up in Idaho Falls, Idaho, where he attended Idaho Falls High School.[2]

After finishing a 2-year mission for his church, he returned and settled in Provo, Utah. In 1992 he began selling pest-control services door-to-door from a small business with 10 employees based in a trailer in Arizona.[3][4]

A few years later, he switched to a different product, burglar alarms, though using the same marketing technique.[5][6] He contacted high-school friend Keith Nellesen to assist in this venture. Together, they founded APX Alarm Security Solutions in 1999 in Provo, Utah, utilizing his door-to-door marketing strategy. In 2011 APX Alarm was rebranded as Vivint to reflect its emphasis on living intelligently through home automation.[7] The company became a major competitor in the industry, as well as expanding its marketing through more traditional venues such as television advertising and telephone sales representatives.[8]

Pedersen was featured in the sixth season finale of the CBS reality show, Undercover Boss in 2015.[9] The experience afforded him valuable insights into his employees' work days.[10]

In 2021 Pedersen stepped down as Vivint's CEO after the company was fined $20 million by the FTC over the company's illegal use of customer credit information. [11][12]

Innovations

Pedersen created a workforce of approximately 13,500 full-time and part-time employees through innovations in employee relations. These innovations include an on-site restaurant at his corporate headquarters in Provo,[13] a free medical clinic,[14] and various recreational areas including a basketball court and a weight room.[14]

Under his direction, the firm branched into Vivint Solar, a solar-energy company.[15][16]

Outside of his industry, Pedersen has sought innovation in public education, particularly emphasizing use of the abacus in the classroom at early ages to strengthen mathematical skills.[17][18] He also partners the 501(c)(3) non-profit organization Vivint Gives Back with organizations such as Feed My Starving Children.[19][20][21]

Pedersen was named Entrepreneur of the Year by three separate entities, first in 2010 by Ernst & Young,[22] next by the Utah Valley Entrepreneurial Forum in 2012,[23] and in 2013 by MountainWest Capital Network.[24]

In 2015 Pedersen was inducted into the David Eccles School of Business Hall of Fame.[25]

Philanthropy

In 2019 Pedersen and his wife were the largest donors to Intermountain Health's new hospital annex, which is known as the Pedersen Tower.[26]

In 2022 Pedersen and his wife donated $35,000,000 to Primary Children's Hospital to improve healthcare to kids.[27][28]

Personal life

In 2016 Pedersen was involved in a fatal accident during the SCORE Baja 500 off-road race.[29]

Pedersen lives with his wife and their five children in the Provo, Utah area, and is a member of the Church of Jesus Christ of Latter-day Saints.[30]

References

  1. ^ "Blackstone Announces Closing of Vivint Transaction Archived 2018-07-29 at the Wayback Machine." Press release, Blackstone, November 19, 2012. Retrieved July 28, 2018.
  2. ^ "'Undercover Boss' schooled in Idaho Falls Archived 2018-07-30 at the Wayback Machine." NPG of Idaho, updated August 25, 2016. Retrieved July 28, 2018.
  3. ^ "To Sell Home Automation, Vivint Needs 'Some Aggressiveness'". Bloomberg News. Archived from the original on April 7, 2014. Retrieved October 19, 2014.
  4. ^ Vivint Smart Home (April 28, 2011). "The History of Vivint". Archived from the original on August 17, 2016. Retrieved November 28, 2016 – via YouTube.
  5. ^ "2011 UV50 Vivint, Inc. | Utah Valley BusinessQ". Archived from the original on November 14, 2012. Retrieved January 20, 2013.
  6. ^ "Vivint CEO Grinds His Way to the Top, and then Some - Article - Security Sales & Integration Magazine". Archived from the original on January 19, 2013. Retrieved January 26, 2013.
  7. ^ Harvey, Tom. "Utah-based Vivint wants your house to 'intelligently respond, react and communicate' The Salt Lake City Tribune, 26 June 2017. Retrieved 28 July 2018.
  8. ^ Burke, Jordan (February 13, 2012). "Vivint growth found in automated homes". Deseret News. Archived from the original on February 24, 2014. Retrieved January 20, 2013.
  9. ^ "The Boss of Vivint Goes Undercover Archived 2018-07-29 at the Wayback Machine." CBS.com, 2015. Retrieved July 28, 2018.
  10. ^ Pederson, Todd. "How Going 'Undercover' Made Me a Better Boss Archived 2018-07-29 at the Wayback Machine." Entrepreneur, February 20, 2015. Retrieved July 28, 2018.
  11. ^ Raymond, Art (April 29, 2021). "Vivint Smart Home reaches $20 million FTC settlement over customer credit abuses". Deseret News. Retrieved May 26, 2021.
  12. ^ "Vivint Smart Home, Inc. (VVNT) announces founder and CEO Todd R. Pedersen has decided to step down as CEO". StreetInsider.com. Retrieved May 26, 2021.
  13. ^ "The Cafeteria Co. Partners With Vivint! Archived 2018-07-29 at the Wayback Machine" Heirloom Restaurant Group, October 11, 2011. Retrieved July 28, 2018.
  14. ^ a b "Doctor's office at work?". Archived from the original on November 7, 2017. Retrieved November 14, 2017.
  15. ^ "Simple & Affordable Home Solar Power Solutions – Vivint Solar". Vivint Solar. Archived from the original on November 6, 2012. Retrieved February 28, 2013.
  16. ^ Bessette, Chanelle. "10 Questions: Todd Pedersen, CEO, Vivint Archived 2018-07-29 at the Wayback Machine." Fortune, February 6, 2014. Retrieved July 28, 2018.
  17. ^ "YouTube". Archived from the original on June 30, 2016. Retrieved November 28, 2016 – via YouTube.
  18. ^ "YouTube". Archived from the original on July 22, 2016. Retrieved November 28, 2016 – via YouTube.
  19. ^ "Home : Feed My Starving Children". fmsc.org. Archived from the original on January 21, 2013. Retrieved January 24, 2013.
  20. ^ Vivint Smart Home (November 16, 2012). "Vivint Partners with Feed My Starving Children – Fox 13 Utah". Archived from the original on June 2, 2016. Retrieved November 28, 2016 – via YouTube.
  21. ^ "Vivint Gives Back 'Year of Service' Initiative Raises $1.5 Million in 2012 | Business Wire". Archived from the original on March 4, 2016. Retrieved July 3, 2018.
  22. ^ SIW Editorial staff. "APX Alarm's Todd Pedersen wins Ernst & Young award Archived 2014-02-03 at the Wayback Machine."
  23. ^ Pugmire, Genelle. "Vivint founder Todd Pedersen named Entrepreneur of the Year Archived 2013-01-17 at the Wayback Machine." Daily Herald, December 14, 2012. Retrieved July 28, 2018.
  24. ^ "Past Entrepreneur of the Year Winners Archived 2017-11-22 at the Wayback Machine." MountainWest Capital Network, 2018. Retrieved July 28, 2018.
  25. ^ "Vivint CEO Todd Pedersen inducted into David Eccles School of Business Hall of Fame Archived 2018-07-30 at the Wayback Machine." David Eccles School of Business, March 9, 2015. Retrieved July 28, 2018.
  26. ^ https://intermountainhealthcare.org/news/2019/01/intermountain-completes-new-pedersen-patient-tower-as-part-of-utah-valley-hospital-replacement-project/
  27. ^ https://www.deseret.com/utah/2022/10/10/23397691/vivint-founder-donation-to-primary-childrens-hospital
  28. ^ https://www.sltrib.com/news/2022/10/10/vivint-ceo-his-family-donate-35/
  29. ^ Green, Mark and Kiersten Nuñez. "Vivint CEO Todd Pedersen involved in crash that killed young spectator at SCORE Baja 500
  30. ^ McKenzie, Hamish. "The Book of Mormon: Why the world's most capitalist religion breeds so many entrepreneurs," Pando, July 31, 2013. Retrieved July 28, 2018.
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