| Type | Public |
|---|---|
| Traded as | NASDAQ: SKUL |
| Industry | Audio, action sports |
| Founded | 2003 |
| Headquarters | Park City, Utah |
| Key people | Rick Alden |
| Products | Headphones Audio equipment, audio accessories |
| Employees | unknown |
| Website | http://www.skullcandy.com/ |
Skullcandy is a Park City, Utah-based company that markets [1] headphones, earphones, hands free devices, audio backpacks, MP3 players and other products.[2] The company was founded in 2003.
Skullcandy's products are targeted at the outdoor action sports demographic (snowboarders, skateboarders, etc.) and general consumer market.[3] Skullcandy products are sold through retailers, specialty outlets, and their online store.
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Rick Alden founded Skullcandy in 2003. The first Skullcandy product—the Skullcandy Portable Link—was introduced at the 2003 International Consumer Electronics Show (CES) in Las Vegas, Nevada. The LINK system combined headphones with hands-free cellular technology, allowing users to both listen to music from a portable audio device, while making and receiving calls through their cell phone. In 2003, Alden sold the first products to Milo Snow & Skate, an action sports shop in Utah.
Alden was named one of vSpring Capital's "Top 100 Venture Entrepreneurs" of 2008,[4] and holds a patent for technology that integrates mobile phones and music players, LINK technology.[5]
In December 2008 the company was named "the world's coolest ear bud," by Fortune Magazine. In addition, the company received local standing in 2008, placing in the Utah Business Fast 50, featuring the top 50 best and most innovative companies throughout the state.[6] The company has quickly jumped to its place as the third most-sold headphone in the U.S. marketplace.[7] In 2005 the company had $1.3 million in annual sales, while its 2009 ranking puts it in place to hit the $100 million mark. As quoted by the Salt Lake Tribune, "We're gunning for No. 1," said Andrus, Skullcandy's President.
Also during the fiscal fourth quarter of 2008, Skullcandy was financially backed by Goode Partners, a New York based private equity firm.
On January 28, 2011, Skullcandy filed for initial public offering with the Securities and Exchange Commission.[8] This announcement was met with some criticism from financial press.[9][10]
The company set terms for its IPO on July 6, 2011 and expects to raise $150 million in an offering the same month.[11]
Skullcandy has received mixed reviews[12][13] for their headphone's design and general performance.[14] Skullcandy has received best "Customer Sound Service" by a local Utah magazine named City Weekly.[15]
Known for their relationships with various action sports industries, Skullcandy currently sponsors professional athletes in snowboarding, skiing, skateboarding, wakeboarding, motocross, and the biking communities. Working with athletes such as Terje Hakonsen, Louie Vito, Clay Marzo, Balaram stack and Mark Frank Montoya has spawned some of Skullcandy's signature action sports pieces including the Terje Nine and MFM Pro.
Skullcandy is currently involved in supporting "Boarding for Breast Cancer" initiatives. Boarding For Breast Cancer (B4BC) is a nonprofit, youth-focused education, awareness and fundraising foundation designed to increase awareness about breast cancer, the importance of early detection and the value of an active lifestyle. Skullcandy announced their 2007 donation of $36,723.80 to Boarding for Breast Cancer at the 2008 SIA show, making their contribution the largest one-time donation the organization has yet to receive. A B4BC supporter since 2006, Skullcandy donates 5% of all pink products sold to support the organization’s efforts.
Skullcandy features artists that endorse their products with special designs. They worked in partnership with Jay-Z to design Roc Nation Aviator headphones, and also produced two designs of Skullcrushers featuring rapper Snoop Dogg themed designs.