MWCN Entrepreneur of the Year 2013
FOR RELEASE FEB. 5, 2013
MWCN Honors Todd Pedersen as 2013 Entrepreneur of the Year
Co-Founder and CEO of Vivint
SALT LAKE CITY, Feb. 05, 2013 – MountainWest Capital Network (MWCN) (www.mwcn.org) announced today its 2013 Entrepreneur of the Year as Todd Pedersen –founder and CEO of Vivint. Pedersen will accept the award Feb. 21.
Pedersen was the dynamic founder of APX Alarm in 1999, which later became Vivint (www.vivint.com). His company is one of the largest home security and automation companies in North America. As CEO he was instrumental in obtaining credit agreements with Goldman Sachs in 2006 and 2009 to facilitate ongoing growth. This set the stage for a $2 billion acquisition by The Blackstone Group in late 2012.
"My success as an entrepreneur stems from the fact that I love what I’m doing, and where we are trying to take this company. We are really having a lot of fun,” said Pedersen. “It’s incredibly rewarding to know that Vivint has carved a path in the tech industry, offering simple, affordable home automation and solar solutions for residents across North America."
Under Pedersen’s leadership, Vivint has grown from an innovative idea to a thriving business serving more than 700,000 customers with leading edge technology for home security and automation. The company has over 3,200 employees. Pedersen’s vision of superb customer service, excellence in product offerings, and a dedication to charitable efforts fueled a thriving and fast growing business. This innovation led to Vivint’s acquisition last year by The Blackstone Group for $2 billion dollars – one of the largest acquisitions in Utah history. Vivint operates in most U.S. states and in Canada, with business offices in Provo, UT, South St. Paul, MN, and Calgary, AB, Canada.
"Todd is a forward-thinking aggressive entrepreneur who has grown one of the largest and most successful businesses in Utah,” said Devin Thorpe, president of MWCN. “We are proud to honor Todd Pedersen as Entrepreneur of the Year. Not only has he built a thriving profitable business, he has created a great culture for his employees who donate thousands of dollars to Vivint Gives Back, the company’s charitable arm that supports families and organizations in need. His efforts have had a progressive influence on Utah’s business community."
Pedersen started his career leading 13 college students to sell pest control services. His leadership efforts were so successful he decided to drop out of college to focus on growing his sales team. Over the years, his team was so consistent at exceeding sales goals that he decided to found APEX Security Solutions, which became APX Alarm and later Vivint. Between 2005 and 2010, Vivint experienced an 825 percent customer growth rate.
Pedersen was named the Ernst & Young Entrepreneur of the Year in the services category for the Utah Region in 2010. Under Todd’s leadership, the company has received the Central Station Alarm for excellence in customer service and Vivint’s Advanced Security package and Home Automation package received a Consumers Digest “Best Buy” rating.
Each year MWCN recognizes the Entrepreneur of the Year—an entrepreneur who has demonstrated an ability to achieve significant entrepreneurial success, made a positive contribution to the entrepreneurial climate of Utah, and show a propensity for giving back to the community.
Pedersen will accept the MWCN Entrepreneur of the Year award at the award luncheon February 21, 2013 from 11:00 am to 1:30 pm at the Salt Lake City Grand America Hotel. To attend, people can register here.
About MountainWest Capital Network
MountainWest Capital Network is Utah’s first and largest business networking organization devoted to supporting entrepreneurial success, and dedicated to the flow of financial, entrepreneurial and intellectual capital. For more information visit www.MWCN.org
Vivint is a leading provider of home technology services in North America. Vivint’s technology-based platform integrates a wide range of wireless features and components that deliver simple, affordable home security, energy management, home automation, and solar solutions. In 2011, Vivint's Home Automation package and Advanced Security package received a Consumers Digest "Best Buy" rating. Dedicated to protecting families, increasing energy efficiency, and simplifying lives, Vivint has more than 13 years of experience and supports over 700,000 customers throughout the United States and Canada. For more information, visit the company’s website at www.vivint.com.
February 21, 2013
Entrepreneur of the Year Award Lunch Program
Todd Pedersen, CEO & Founder Vivint
February 21, 2013
Pre-party Reception 11:00 – 12:00
Lunch and Award Ceremony 12:00 – 1:30
Grand America Hotel, Salt Lake City
Each year, MountainWest Capital Network recognizes a Utah business executive who has built a successful Utah-based company, inspiring others to participate in the risks and rewards of entrepreneurship. This year, MWCN is excited to announce Todd Pedersen, Founder & CEO, Vivint as the recipient of the 2013 Entrepreneur of the Year Award.
Todd Pedersen is the CEO and founder of Vivint Inc., the largest home automation provider in North America. Todd co-founded Vivint because he saw an opportunity to sell high-quality products using a personal approach.
Under his leadership, Vivint has evolved from a groundbreaking idea into one of the fastest-growing home management companies, with more than 675,000 customers and 3,200 employees. His market vision and leadership enabled Vivint to achieve 825 percent customer growth for the last five years. This growth has allowed Vivint to consistently climb the rankings of the SDM Top 100 list of largest residential security installation and monitoring organizations. In six short years, Vivint has gone from not being ranked to its current position at number two.
As a result of his efforts in the business world and in the community, Todd was named the Ernst & Young Entrepreneur of the Year 2010 in the services category for the Utah Region. The award recognizes "outstanding entrepreneurs who are building and leading dynamic, growing businesses."
Limited seating available.
Register at http://www.mwcn.org/store/display/2104/37/entrepreneur-of-the-year-award-2013-todd-pederse
CONTACT: Cheri Farnsworth, 801-966-1430 <firstname.lastname@example.org>
Pricing for this event:
· Individual Seats: $55
· MWCN Individual Members: Free
· Corporate Members: Two attendees Free
· Sponsor Table of Eight: $500
A special thanks to our 2013 Entrepreneur of the Year Sponsors
Ballard Spahr LLP • CBIZ | Mayer Hoffman McCann P.C. • Clarke Capital Partners • Cornerstone Technologies
Diversified Insurance Brokers • Durham Jones & Pinegar • Hansen Barnett & Maxwell P.C. • Jakob Marketing Partners • Key Bank • KUER
PricewaterhouseCoopers LLP • Prudential Real Estate • Strong & Hanni • Tanner LLC
USTAR • Wells Fargo Bank • Zions Bank