Is Irvine-based Vizio Inc. mulling an initial public offering?
The privately held Irvine-based company isn’t tipping its hand, but a recent job opening for its in-house legal team has provided some fodder for tea-leaf reading.
The consumer electronics brand that built its name by providing affordable, quality flat-screen HD TVs through masterful supply-chain management is seeking to fill a position in its corporate council, securities and governance department.
Among the top desired skills for the position:
n Experience with general domestic and international corporate transactions, including mergers and acquisitions, securities and pre-IPO activities;
n Experience drafting Securities Act and Securities Exchange Act filings, including registration statements, periodic reports, proxy statements and Section 16 reports.
Vizio isn’t required to file regulatory reports with the SEC unless the company engages or plans to engage in the above activities.
The company didn’t specifically address the IPO inquiry but sent a general statement to the Business Journal: “Vizio continues to enjoy strong growth in business domestically and internationally. This growth creates additional demand for strong internal legal support as well as support in nearly every other aspect of Vizio’s business.”
The listing has drawn more than 20 applicants from LinkedIn alone, according to the business networking site.
Vizio was Orange County’s fifth-largest private company last year, with $3.1 billion in annual sales in 2013, according to Business Journal research, which estimates the company boosted revenue to $3.5 billion last year.
Startup Lights Up Kickstarter
Huntington Beach-based startup ZeroHour Innovations blew past its $25,000 Kickstarter goal in 16 hours, raising $250,000 from more than 1,400 backers to bring its device-charging flashlight to the market in May.
The ZeroHour Relic XR, which will cost about $150, is targeted to adventure seekers and outdoor enthusiasts.
The flashlight, which has a luminosity of more than 800 feet, features a waterproof aluminum casing that’s also used in aircraft production. It can be mounted on bikes and weapons.
The company was launched by entrepreneurs Amy Truong and Aaron Son, who ran Fountain Valley-based LED microlight seller OLS Lighting before turning their attention to their latest venture.
The duo came up with the idea while traveling and touring through South America armed with weak flashlights and frequently power-draining devices.
“They wanted to create a heavy tactical flashlight that also had USB output capabilities,” said spokesperson John Mullins. “We really want to change how people think about flashlights.”
The quality of the product and its founders’ pitching skills to investors were put to the test in a recent episode of the Science Channel’s new series “All-American Makers,” which garnered an endorsement on the White House’s list of 2015 STEM education showcases.
The company raised $104,000 from 441 Kickstarter backers in December 2013 for its debut product, a heavier, more rugged version with three lithium-ion batteries. The current model takes just one battery that provides up to six hours on high power.
Uber-Style Delivery
Palo Alto startup DoorDash last week launched its app- and Web-based fast-food delivery service in OC.
The company, which recently raised $17.3 million in a Series A round led by Sequoia Capital, relies on a crowd-sourced network of drivers and bikers—ala Uber and Lyft—to deliver food for restaurants that don’t offer the service.
DoorDash has lined up local eateries Wahoo’s Fish Taco, Cucina Enoteca, Mozambique, Mick’s Karma Bar, and Tender Greens, among others. It is offering new local customers a $7 promo code—DDtoOC—and free delivery for first orders.
The company has offices in Newport Beach, Los Angeles, Boston, Chicago and San Francisco and was launched out of Stanford University’s noted Y-Combinator in 2013.
