Skullcandy Inc.
TypeSubsidiary
IndustryAudio
Founded2003
FoundersRick Alden and Cris Williams
HeadquartersPark City, Utah, U.S.
Key people
  • Jason Hodell (CEO)
ProductsHeadphones
Audio equipment, audio accessories
RevenueIncrease$266.3 million (2015)[1]
OwnerMill Road Capital[2]
Websitewww.skullcandy.com

Skullcandy Inc. is an American company based in Park City, Utah, that markets technology such as headphones, earphones, Bluetooth speakers and other products.[3]

It was acquired by Mill Road Capital for $196.9 million and the deal was finalized on October 3, 2016, making Skullcandy a wholly owned private subsidiary of that company.[2]

Products

A black Bluetooth budget headset known as Uproar Wireless by Skull Candy

Skullcandy's products are primarily targeted at the outdoor action sports demographic (snowboarders, skateboarders, etc.) and general consumer market, but they have expanded in recent years into the premium audio market with products such as the Crusher headphones.[4] Skullcandy products are sold through retailers, specialty outlets, corporate incentive programs and the company's online store.[5]

Company history

Rick Alden donating to Boarding for Breast Cancer charity in 2007

Skullcandy was founded by Rick Alden and Cris Williams in 2003. The first Skullcandy product, the Skullcandy Portable Link, was introduced at the 2003 International Consumer Electronics Show (CES) in Las Vegas, Nevada. The LINK system combines headphones with hands-free cellular technology, allowing users to listen to music from a portable audio device, while making and receiving calls through their cellphone. Skullcandy holds a patent for the wireless version of LINK technology.[6]

In December 2008, Skullcandy products were described as "the world's coolest ear bud," by Fortune magazine.[7]

In April 2011, Skullcandy purchased headphones manufacturer Astro Gaming from Astro Studios for an unknown amount of cash.

On January 28, 2011, Skullcandy filed for an initial public offering with the Securities and Exchange Commission.[8] This announcement was met with some criticism from the financial press.[9][10]

On June 24, 2016, Incipio, a maker of phone cases, wireless speakers, and other accessories, announced plans to acquire Skullcandy for $177 million; however, the deal later fell through as Incipio refused to submit a proposed amendment to the merger agreement and Skullcandy terminated the agreement.[11] Skullcandy considered numerous other offers, eventually agreeing to be acquired by Mill Road Capital for $196.9 million at $6.35 per share. The deal was finalized and completed on October 3, 2016, and the company became a private business again.[2]

References

  1. ↑ "Skullcandy, Inc. Reports Fourth Quarter and 2015 Results (NASDAQ:SKUL)". Archived from the original on 2017-01-10. Retrieved 2017-01-09.
  2. 1 2 3 Berman, Laura (24 August 2016). "Mill Road Capital victorious in Skullcandy bidding war". TheStreet. Retrieved 26 November 2016.
  3. ↑ Gardiner, Bryan (2010-08-24). "The Secret Scam of Cheap Earbuds". Gizmodo. Retrieved 2015-08-27.
  4. ↑ "Skullcandy adds Scot Carlson as vice president of finance". Globalsurfnews.com. 2008-04-01. Retrieved 2008-04-05.
  5. ↑ "Rymax Marketing Partners with Skullcandy for Incentive Products". ChiefMarketer. 20 February 2008. Retrieved 26 November 2016.
  6. ↑ Sorice, Cory (13 March 2007). "Patent Monkey: Skullcandy Patents LINK between Cell Phone and iPod". TechCrunch. Retrieved 26 November 2016.
  7. ↑ Copeland, Michael (2008-12-30). "The world's coolest ear buds". CNN. Retrieved 2010-05-23.
  8. ↑ "Form S1 for Skullcandy, Inc". SEC.gov. 2011-01-28. Retrieved 2011-02-15.
  9. ↑ Berman, Dennis (2011-02-01). "Skullcandy IPO? Check Your Head". The Wall Street Journal. Retrieved 2011-02-15.
  10. ↑ "The Game: Skullcandy IPO is a Headscratcher". The Wall Street Journal. 2011-02-01.
  11. ↑ O'Kane, Sean (24 June 2016). "Incipio is buying Skullcandy to expand its accessory empire". Retrieved 2016-06-24.
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