Stream Energy

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Stream
Privately held
Industry Retail electricity provider/multi-level marketing
Founded 2005
Headquarters Dallas, Texas, United States
Key people

Rob Snyder (Founder) Pierre Koshajki (Founder)

Larry Mondry, CEO (2016)[1]
Number of employees
245 (August 2017)
Website mystream.com

Stream (Stream Energy) is a provider of energy, wireless, protective and home services. Stream was founded in 2004 as an American retail electricity and natural gas firm. The Company is headquartered within the Tollway Center building in Dallas. Stream Energy uses multi-level marketing as its primary sales channel. Initially, the company recruited through its separate multi-level marketing division, Ignite, which was merged into the Stream brand in 2014. The majority of Stream's services are available across the United States, with the exception of energy, which is available in select deregulated energy markets.

History[edit]

Stream at the Tollway Center building in Dallas, TX

Stream Gas & Electric Ltd. (d/b/a Stream Energy) was founded in August 2004 by Rob Snyder and Pierre Koshajki, after the deregulation of the Texas electricity market. Stream was licensed as a retail electrical provider by the Public Utilities Commission of Texas on 21 January 2005 and formally began operations through the initial enrollment of Texas electricity customers on 7 March 2005. The company has since expanded to sell energy in Pennsylvania (2010), Maryland (2011), New Jersey (2011), New York (2012), and Washington, D.C. (2012).[2]

Multi-level marketing[edit]

In 2014, Stream merged its separately-branded multi-level marketing arm, Ignite, into the Stream brand.[3] Using the multi-level marketing model, Stream associates can earn commissions either from selling to customers or recruiting new sales associates, after they gather a required minimum number of energy customers. Local meetings known as "Business Presentations" are held to promote the concept. Sales associates also maintain internet-based "homesites" that serve as informational web forums for recruits.

In 2010, the sign-up cost in Georgia was $300, with a $25 monthly fee to maintain a website. Associates typically received between $0.50 and $3 a month for each customer they recruited.[4]

According to Stream Energy's income disclosure statement, among sales associates who maintained their position qualifications throughout calendar year 2013 and earned at least one commission or bonus payment (representing 84.5% of all sales associates), the average annual income was $686.90; for the majority (81.9%) of those associates, the average annual income was $117.12.[5]

In 2016, Stream announced that Larry Mondry has been selected by the firm’s board of managers as its new president and chief executive officer.[6]

References[edit]

External links[edit]