Zagg

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ZAGG Inc
Public
Traded asNASDAQZAGG[1]
Russell 2000 Component
IndustryConsumer Electronics Accessories
FoundedSalt Lake City, Utah, United States
Headquarters
910 West Legacy Center Way, Suite 500, Midvale, Utah
Key people
Chris Ahern, CEO and Director [2]
ProductsScreen protectors, Mobile phone accessories
Revenue$264.4 million in 2012, 1Q 2013 $51.5 million
Number of employees
543 [3]
SubsidiariesIFROGZ[4][5] Mophie[6] BRAVEN[7]
Websitezagg.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][8]

History[edit]

The line of screen protection by Zagg that is under the InvisibleShield brand, was created by Phillip Chipping, who then formed Protective Solutions, Inc. in March 2005[9] 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.[10] A few months later, in September 2005 (two weeks after Apple Inc. had released the first iPod nano)[original research?] the company sent out a press release[11] 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.[12][13]

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.[14] 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][15]

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.[11] On November 10, 2009; it was listed on the NASDAQ Market.[16] In 2011, the company acquired IFrogz.[4][5]. The company acquired mobile accessory company Mophie in 2016.[17]

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.[18] Months after in 2018, Zagg announced their acquisition of BRAVEN Audio, a brand of bluetooth speakers, from Incipio Group.[19]

Products[edit]

InvisibleShield screen protectors are now sold in many countries. In 2008, it started selling its products in well-known retailers such as Best Buy[20] and Carphone Warehouse.[21] It is currently available in all four major wireless retailers: AT&T,[22] Verizon Wireless,[23] Sprint,[24] and T-Mobile.[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]

On November 30, 2018 Zagg acquired Gear4 brand of cases for $40 million from STRAX AB.[31][32]

Financials[edit]

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.[33]

References[edit]

  1. ^ a b c d 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. ^ a b Huskinson, Scott (2011-03-22). "ZAGG Acquires iFrogz". Business Wire. Retrieved 2012-04-04.
  5. ^ a b 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. ^ "Company Overview of ZAGG Inc". Bloomsberg. Bloomsberg.
  8. ^ Wallerius, Serra (2011-12-12). "ZAGG InvisibleSHIELD Installation Challenge". TekGoblin. Retrieved 2012-01-05.
  9. ^ Wallace, Bruce (2005-12-20). "Firm seeks a scratch-free world". Deseret News. Retrieved 2012-04-04.
  10. ^ Clark, Emily (2011-12-29). "Made in America: ZAGG". ABC News 4. Archived from the original on 2013-09-06. Retrieved 2012-04-04.
  11. ^ a b http://www.allbusiness.com/electronics/consumer-household-electronics-portable/5071175-1.html
  12. ^ "Review: InvisibleShield for iPod".
  13. ^ "Protective Solutions Announces invisibleSHIELD for the Apple iPod with Video".
  14. ^ http://utahpulse.com/featured_article/zagg-ceo-robert-g-pedersen-ii-named-ernst-young’s-2010-entrepreneur-of-the-year
  15. ^ "ZAGG Incorporated (ZAGG) Company Profile - CorporateInformation.com".
  16. ^ "ZAGG Listed on NASDAQ Global Market - Business Wire".
  17. ^ "Zagg Acquires Mophie For $100M+". Techcrunch. Retrieved 16 October 2017.
  18. ^ Schultz, Clark (2018-03-07). "Zagg CEO steps down". Seeking Alpha. Retrieved 2018-08-23.
  19. ^ Johnston, Lisa (2018-08-03). "Zagg Picks Up Braven From Incipio". Twice. Retrieved 2018-08-23.
  20. ^ "InvisibleShield(TM) to Be Available in Best Buy Stores Nationwide". Reuters. 2008-07-09.
  21. ^ "ZAGG's invisibleSHIELD Now Available at the Carphone Warehouse".
  22. ^ http://investors.zagg.com/releasedetail.cfm?ReleaseID=482964
  23. ^ Ramsley, Walter (15 January 2011). "American Growth Stocks: Zagg ( Nasdaq - ZAGG ) -- Penetrates Verizon Retail Stores".
  24. ^ http://investors.zagg.com/releaseDetail.cfm?ReleaseID=576215
  25. ^ "ZAGG Announces Distribution in T-Mobile USA Stores Nationwide - Business Wire".
  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. ^ Cite error: The named reference Street Insider was invoked but never defined (see the help page).
  32. ^ "ZAGG, Inc. (Zagg) to Acquire Gear4 for $40M". streetinsider.com.
  33. ^ "ZAGG Profile | ZAGG Inc Stock - Yahoo Finance". finance.yahoo.com. Retrieved 2018-10-12.

External links[edit]