The founders decided to pass on the investment and keep complete ownership.
OrigAudio was valued at about $1 million at the time. It’s worth $8 million now, according to Lucash.
“It was probably the best decision I ever made,” he said.
The company has since launched eight more products, including the Doodle, which allows consumers to design graphics on their own speakers.
Custom orders for large corporations, such as Apple, Oracle and Coca-Cola, now generate half of OrigAudio’s annual revenue of more than $3.5 million.
Its 714.2% sales jump in the 12 months through June, compared to the same period two years earlier, landed the company in the No. 9 spot on the Business Journal’s list of fastest-growing private companies last year.
OrigAudio has been featured on TV shows, news programs, countless magazine covers, and dozens of radio spots without a single dollar devoted to marketing. It helps that the company is run by former marketing pros with a penchant for social networks and online advertising. Some of its quirky and playful spots on YouTube have gone viral, helping the company attract more than a million views on the site.
“We don’t take ourselves too seriously, but we take our work seriously,” Lucash said.
The company relies on a roster of OC companies for printing and design work.
It champions other small businesses and is involved in three nonprofits: Music National Service, which supports and expands the use of music to address civic and social needs; Network for Teaching Entrepreneurship, which aims to bring entrepreneurship education to low-income students; and Chemo Duck, part of Gabe’s Chemo Duck Program, that supports children and families living with cancer.
OrigAudio gives a percentage of each product sold to the groups.