Todd Pedersen
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Todd Richard Pedersen (born November 23, 1968) is an American entrepreneur and the founder of Vivint, Inc., a home automation, security and energy company. Vivint, Inc. was acquired in late 2012 by the Blackstone Group.[1]
Todd Pedersen | |
|---|---|
| Born | Todd Richard Pedersen November 23, 1968 |
| Alma mater | Brigham Young University |
| Occupation | CEO of Vivint |
| Years active | 1997–present |
| Spouse | Andie Pedersen |
| Children | 5 |
Biography edit
Todd Pedersen was born in Seattle, Washington, the fourth of eleven children, and grew up in Idaho Falls, Idaho, where he attended Idaho Falls High School.[2]
After finishing a 2-year mission for his church, he returned and settled in Provo, Utah. In 1992 he began selling pest-control services door-to-door from a small business with 10 employees based in a trailer in Arizona.[3][4]
A few years later, he switched to a different product, burglar alarms, though using the same marketing technique.[5][6] He contacted high-school friend Keith Nellesen to assist in this venture. Together, they founded APX Alarm Security Solutions in 1999 in Provo, Utah, utilizing his door-to-door marketing strategy. In 2011 APX Alarm was rebranded as Vivint to reflect its emphasis on living intelligently through home automation.[7] The company became a major competitor in the industry, as well as expanding its marketing through more traditional venues such as television advertising and telephone sales representatives.[8]
Pedersen was featured in the sixth season finale of the CBS reality show, Undercover Boss in 2015.[9] The experience afforded him valuable insights into his employees' work days.[10]
In 2021 Pedersen stepped down as Vivint's CEO. [11][12]
Innovations edit
Pedersen created a workforce of approximately 13,500 full-time and part-time employees through innovations in employee relations. These innovations include an on-site restaurant at his corporate headquarters in Provo,[13] a free medical clinic,[14] and various recreational areas including a basketball court and a weight room.[14]
Under his direction, the firm branched into Vivint Solar, a solar-energy company.[15][16]
Outside of his industry, Pedersen has sought innovation in public education, particularly emphasizing use of the abacus in the classroom at early ages to strengthen mathematical skills.[17][18] He also partners the 501(c)(3) non-profit organization Vivint Gives Back with organizations such as Feed My Starving Children.[19][20][21]
Pedersen was named Entrepreneur of the Year by three separate entities, first in 2010 by Ernst & Young,[22] next by the Utah Valley Entrepreneurial Forum in 2012,[23] and in 2013 by MountainWest Capital Network.[24]
In 2015 Pedersen was inducted into the David Eccles School of Business Hall of Fame.[25]
Philanthropy edit
In 2019 Pedersen and his wife were the largest donors to Intermountain Health's new hospital annex, which is known as the Pedersen Tower.[26]
In 2022 Pedersen and his wife donated $35,000,000 to Primary Children's Hospital to improve healthcare to kids.[27][28]
Personal life edit
In 2016 Pedersen was involved in a fatal accident during the SCORE Baja 500 off-road race.[29]
Pedersen lives with his wife and their five children in the Provo, Utah area, and is a member of the Church of Jesus Christ of Latter-day Saints.[30]
References edit
- ^ "Blackstone Announces Closing of Vivint Transaction 2018-07-29 at the Wayback Machine." Press release, Blackstone, November 19, 2012. Retrieved July 28, 2018.
- ^ "'Undercover Boss' schooled in Idaho Falls 2018-07-30 at the Wayback Machine." NPG of Idaho, updated August 25, 2016. Retrieved July 28, 2018.
- ^ "To Sell Home Automation, Vivint Needs 'Some Aggressiveness'". Bloomberg News. from the original on April 7, 2014. Retrieved October 19, 2014.
- ^ Vivint Smart Home (April 28, 2011). "The History of Vivint". from the original on August 17, 2016. Retrieved November 28, 2016 – via YouTube.
- ^ . Archived from the original on November 14, 2012. Retrieved January 20, 2013.
- ^ "Vivint CEO Grinds His Way to the Top, and then Some - Article - Security Sales & Integration Magazine". from the original on January 19, 2013. Retrieved January 26, 2013.
- ^ Harvey, Tom. "Utah-based Vivint wants your house to 'intelligently respond, react and communicate' The Salt Lake City Tribune, 26 June 2017. Retrieved 28 July 2018.
- ^ Burke, Jordan (February 13, 2012). "Vivint growth found in automated homes". Deseret News. from the original on February 24, 2014. Retrieved January 20, 2013.
- ^ "The Boss of Vivint Goes Undercover 2018-07-29 at the Wayback Machine." CBS.com, 2015. Retrieved July 28, 2018.
- ^ Pederson, Todd. "How Going 'Undercover' Made Me a Better Boss 2018-07-29 at the Wayback Machine." Entrepreneur, February 20, 2015. Retrieved July 28, 2018.
- ^ Raymond, Art (April 29, 2021). "Vivint Smart Home reaches $20 million FTC settlement over customer credit abuses". Deseret News. Retrieved May 26, 2021.
- ^ "Vivint Smart Home, Inc. (VVNT) announces founder and CEO Todd R. Pedersen has decided to step down as CEO". StreetInsider.com. Retrieved May 26, 2021.
- ^ "The Cafeteria Co. Partners With Vivint! 2018-07-29 at the Wayback Machine" Heirloom Restaurant Group, October 11, 2011. Retrieved July 28, 2018.
- ^ a b "Doctor's office at work?". from the original on November 7, 2017. Retrieved November 14, 2017.
- ^ "Simple & Affordable Home Solar Power Solutions – Vivint Solar". Vivint Solar. from the original on November 6, 2012. Retrieved February 28, 2013.
- ^ Bessette, Chanelle. "10 Questions: Todd Pedersen, CEO, Vivint 2018-07-29 at the Wayback Machine." Fortune, February 6, 2014. Retrieved July 28, 2018.
- ^ "YouTube". from the original on June 30, 2016. Retrieved November 28, 2016 – via YouTube.
- ^ "YouTube". from the original on July 22, 2016. Retrieved November 28, 2016 – via YouTube.
- ^ "Home : Feed My Starving Children". fmsc.org. from the original on January 21, 2013. Retrieved January 24, 2013.
- ^ Vivint Smart Home (November 16, 2012). "Vivint Partners with Feed My Starving Children – Fox 13 Utah". from the original on June 2, 2016. Retrieved November 28, 2016 – via YouTube.
- ^ "Vivint Gives Back 'Year of Service' Initiative Raises $1.5 Million in 2012 | Business Wire". from the original on March 4, 2016. Retrieved July 3, 2018.
- ^ SIW Editorial staff. "APX Alarm's Todd Pedersen wins Ernst & Young award 2014-02-03 at the Wayback Machine."
- ^ Pugmire, Genelle. "Vivint founder Todd Pedersen named Entrepreneur of the Year 2013-01-17 at the Wayback Machine." Daily Herald, December 14, 2012. Retrieved July 28, 2018.
- ^ "Past Entrepreneur of the Year Winners 2017-11-22 at the Wayback Machine." MountainWest Capital Network, 2018. Retrieved July 28, 2018.
- ^ "Vivint CEO Todd Pedersen inducted into David Eccles School of Business Hall of Fame 2018-07-30 at the Wayback Machine." David Eccles School of Business, March 9, 2015. Retrieved July 28, 2018.
- ^ https://intermountainhealthcare.org/news/2019/01/intermountain-completes-new-pedersen-patient-tower-as-part-of-utah-valley-hospital-replacement-project/
- ^ https://www.deseret.com/utah/2022/10/10/23397691/vivint-founder-donation-to-primary-childrens-hospital
- ^ https://www.sltrib.com/news/2022/10/10/vivint-ceo-his-family-donate-35/
- ^ Green, Mark and Kiersten Nuñez. "Vivint CEO Todd Pedersen involved in crash that killed young spectator at SCORE Baja 500
- ^ McKenzie, Hamish. "The Book of Mormon: Why the world's most capitalist religion breeds so many entrepreneurs," Pando, July 31, 2013. Retrieved July 28, 2018.