WILLIAM WANG
CO-FOUNDER
VIZIO INC.
THE DEAL: Two decades ago, after surviving a plane crash, tech visionary started Vizio, which has become a well-known national brand as maker of flat-panel smart TVs, sound bars and other products. The Irvine-based company went public in 2021, now valued around $2.2B after Walmart made offer to buy it (NYSE: VZIO).
Wang said he is definitely happy about the sale, which hasn’t yet been completed because the U.S. Federal Trade Commission said it was seeking more information. “If the deal does go through, I’ll be still working with them, with Vizio. I’m staying with Vizio,” he told the Business Journal in May.
THE NUMBERS: Vizio is the largest U.S.-based flat-panel TV maker, trails only Samsung Electronics Co. among sales in the country. Last year, Vizio brought in over $1.7B in revenue, down 10% from 2022.
GROWING BUSINESS: Ad-software business is driver of Vizio profitability, bringing in $598M last year, up 25% from 2022. Growth speaks “to the progress we have made increasing awareness of Vizio as a skilled destination for advertisers to reach viewers,” Wang said previously. “By our measure, we’ll continue to gain share within connected TV, one of the fastest-growing areas of advertising marketplace.”
IN HIS WORDS: “Twenty years ago, I embarked on a journey to make quality home entertainment accessible to everyone,” Wang said in a 2022 letter to shareholders. “I started Vizio with a handful of employees and the funds from a second mortgage on my home. In our early years, we cultivated supplier and retail partner relationships to create an efficient business model that would allow us to deliver exceptional value to American consumers. Today, this core principle remains at the heart of everything we do.”
