The premier honor for small businesses in the Salt Lake area. Categories include Community Service, Entrepreneurial Success, Minority Small Business, and Small Business of the Year
2008
Small Business of the Year - Broadcast International
Rod Tiede, President/CEO
Reed Benson, CFO/Corporate Counsel
Bob Ingraham, VP/Engineering
Rob Chipman, VP/ Sales & Marketing www.brin.com
In 1984, Broadcast International began by providing satellite-delivered music, advertising, training, and communications to national retailers and many other large corporations. In 1995, the Company was acquired by Data Broadcasting Corporation. After operating as a subsidiary of DBC for five years, BI management was able to arrange a buyout that included the BI name, several contracts and much of the company’s infrastructure. BI was able to generate enough revenues to retain all of its employees and operate profitably. Further, the Company was also able to invest in and develop a new technology, CodecSys, that enables it to enter into and exploit much larger and more profitable markets. CodecSys is a unique, multi-codec video compression system that delivers high quality video at low bandwidths. In 2007, BI received the U.S. patent for CodecSys and licensed the technology to IBM.
In 2001, the first year Broadcast International operated as an independent, management-owned company, its revenues were approximately $5 million per year. By 2006, revenues had grown to $14 million – all from sales of its traditional satellite, web streaming and video production services. As BI has re-engineered and re-positioned itself over the course of 2007, the company is prepared for significant growth in 2008 – both in its core services and in sales of its new technology. With all the world’s major broadcast and media networks in dire need of video compression efficiencies and 10,000 worldwide IBM resellers poised to take a significant share of a projected $5 billion market, BI has reason to be optimistic.
Award sponsored by:
From Left to Right: Lane Beattie,
Salt Lake Chamber; Dave Angerbauer, Holland & Hart; Burt Jepson and
Rob Chipman, Broadcast International; Gov. Jon M. Huntsman;
Mary Ross and Kendall Surfass, Equitable Life &
Casualty
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