Regulatory filings from Vizio Inc.’s planned initial public offering uncovered several unknowns behind the Irvine-based consumer electronics brand.
William Wang, who launched the TV titan in 2002 with Ken Lowe and LaLaynia Newsome, owns 54.7% of the company. Newsome, a sales expert who worked with Wang at previous companies MAG Innovision and Princeton Graphic Systems, owns 2.1%. Lowe isn’t listed as a minority owner.
Vizio Chief Technology Officer Matthew McRae has a 2.2% stake, and Chief Operating Officer Ben Wong controls 3.4%. David Russell, chief executive of La Jolla-based Puro Sound Labs and a Vizio director since 2007, owns 2.7%.
Regulatory filings show Matthew Massengill, the former chief executive and chairman at Irvine-based Western Digital Corp., has been a Vizio board member since 2010.
Vizio’s largest minority owners are Taiwan-based AmTRAN Technology Co., which controls 20.4% of common stock, and Q-Run Holdings Ltd., an affiliate of Taipei, Taiwan-based Hon Hai Precision Co. that holds an 8.3% stake. Hon Hai, better known as FoxConn, is the world’s largest contract electronics manufacturer. La Jolla-based V-TW Holdings LLC has a 7.7% stake.
Prickly Premier
The Business Journal caught up with Oculus VR Inc. co-founder and Time magazine cover boy Palmer Luckey late last month at a Beverly Hills mansion for the premier of the animated short “Henry,” which was produced by newly established Oculus Studios.
The 10-minute film drops the viewer into Henry the hedgehog’s home—part Winnie the Pooh treehouse, part Hobbit hole—where the spikey character is prepping his birthday cake.
The adorable hedgehog loves hugs, but his quilled body causes a bit of damage to fellow animals. He makes a birthday wish, and voilà, a set of doggie balloons come to life, do a little dance number around the viewer, and ultimately help Henry’s only wish—to hug it out—come true.
“Making a person feel like they’re actually in a virtual world where things happen doesn’t have to be exclusive to games,” said Luckey, who splits his time between a home on Lido Isle and Silicon Valley. “Over time, you’re going to see a lot of narrative content that tells stories in entirely new ways.”
Oculus is trying to boost VR cinema and production in Hollywood and elsewhere as the startup nears the consumer launch of its breakthrough headset early next year.
The company moved its headquarters from Irvine to Facebook Inc.’s Menlo Park digs last year after it was acquired for $2 billion, but maintains a local engineering team.
Motormood Gets Private Money
Irvine-based startup Motormood pulled the plug on a $130,000 Kickstarter campaign to bring its auto accessory display to market after drawing interest from private backers.
“The opportunity for an exclusive partnership with another company came about,” co-founder Kina Di Santes told the Business Journal. “We are currently in negotiations.”
The company had raised nearly $118,000 from 742 backers before canceling the project a few days before the month-long campaign.
The LED Motormood product allows drivers to communicate moods to other drivers in real time through a remote-controlled rear display face.
