Red Ventures

Infobox_Company
company_name = Red Ventures
company_type = Privately-held
foundation = Charlotte, North Carolina (2000)
location = Charlotte, North Carolina
key_people = Ric Elias, Chief Executive Officer
Dan Feldstein, Chief Marketing Officer
Mark Brodsky, Chief Financial Officer
Dale Lancaster, Chief Technology Officer
services = Online marketing services
Customer acquisition marketing
num_employees = 450
homepage = [http://www.redventures.com www.redventures.com]

Red Ventures is an American marketing services company incorporated in the State of North Carolina [ [http://www.secretary.state.nc.us/corporations/Corp.aspx?PitemId=4789321 North Carolina Department of the Secretary of State] ] . The company acquires customers for providers of home, consumer, business, automotive, remodeling, financial and educational services [http://www.redventures.com/verticals.html Verticals] , Red Ventures website; retrieved July 30, 2008] . These service providers include DirecTV, ADT Security Services, and Sirius Satellite Radio. In terms of revenue, as of 31 December 2007, Red Ventures is one of the fastest growing private companies in the United States, with growth of 5,863.9% from 2004 through 2007 [http://www.inc.com/inc5000/2008/company-profile.html?id=200800170 “Inc. 500: America’s Fastest Growing Private Companies”] , Inc. Magazine, September 2008] .

Red Ventures’ corporate headquarters is located in Charlotte, North Carolina. The company also has locations in New York, New York; Dallas, Texas; Miami, Florida; San Juan, Puerto Rico; and Guatemala City, Guatemala [ [http://www.redventures.com/contact.html Contact Us] , Red Ventures website; retrieved July 30, 2008] .

Vertical markets

Red Ventures operates businesses in the following vertical markets:

*Home Services
**DirectStarTV
**Security Choice
**Home Services Corp.
*Consumer Services
**Radio Sales Group
*Business Services
**Premier Growth Solutions
*Automotive
**Modern Consumer
*Home Remodeling
*Financial Services
*Education
**Education Enrollment Services
*International
**Direct Solutions

Brief history

*1999: Red F, the precursor to Red Ventures, was founded by Ric Elias and Dan Feldstein, who met while working at Cendant Corporation [http://www.bizjournals.com/charlotte/stories/2007/11/05/story2.html?b=1194238800%5E1544661 "Staying in Red brings new life"] , Charlotte Business Journal, November 2, 2007] .
*2000: Following the dot-com implosion of mid-2000, Red F, which began as an online discount and loyalty program, evolved into a marketing consulting firm. Clients included BellSouth, LendingTree and DirecTV [http://www.bizjournals.com/charlotte/stories/2007/11/05/story2.html?b=1194238800%5E1544661 "Elias earns a big Red F for dedication, foresight"] , Charlotte Business Journal, February 25, 2005] .
*2003: Elias and Feldstein launched another business, Red Ventures. The idea behind it was to acquire new customers on behalf of service-related brands, beginning with DirecTV [ [http://www.redventures.com/executives/ric.php Leadership: Ric Elias] , Red Ventures Website, retrieved July 30, 2008.] .
*2004: Red F was ranked twenty-first overall and first among marketing companies on the 2004 Inc. 500 [http://www.inc.com/news/articles/200410/inc500.html “Inc. 500: America’s Fastest Growing Private Companies”] , Inc. Magazine, November 1, 2004] .
*2005: Red F was sold to its management team so Elias and Feldstein could focus on developing Red Ventures
*2007: Red Ventures was ranked fourth overall and first among advertising and marketing companies on the 2007 Inc. 500 [http://www.inc.com/inc5000/2007/company-profile.html?id=200700040 “Inc. 500: America’s Fastest Growing Private Companies”] , Inc. Magazine, September 2007] .
*2008: Red Ventures acquired Modern Consumer, which operates a lead generation and distribution network for the automotive finance market [http://directmag.com/disciplines/red-ventures-acquire-modern-consumer-0624/ “Red Ventures Acquires Lead Generation Firm Modern Consumer”] , Direct Magazine, June 23, 2008] ; and Red Ventures was ranked 17th overall and second among advertising and marketing companies on the 2008 Inc. 500.

Corporate culture

Red Ventures’ corporate culture combines a focus on measurement and profitability with an entrepreneurial mindset that promotes new ideas and innovation from its employees. The organization is flat, with decision-making dispersed among small, autonomous divisions formed around the company's verticals and marketing channels. [http://www.charlotteobserver.com/business/story/142942.html#none "Red Ventures fuses marketing and sales, hits 17th in nation"] , The Charlotte Observer, August 22, 2008] . More than 90% of employees arrived with no expertise in their current fields; the company’s preference is to hire talented people and train them. On average, Red Ventures hires 3% of applicants following multiple, extensive interview sessions with a cross-section of employees [http://charlotte.bizjournals.com/charlotte/stories/2008/06/23/story5.html?b=1214193600%5E1653178 "Red Ventures Grows Again"] , Charlotte Business Journal, June 20, 2008] .

Philanthropy

In 2006, Red Ventures embarked on a philanthropic project called Lives Linked. The mission of the nonprofit organization is to help reduce world poverty by using technology to improve the child sponsorship programs of international aid organizationshttp://www.liveslinked.org/, Lives Linked website, retrieved July 30, 2008] .

Corporate achievements

Red Ventures and members of its management team have received several awards honoring them for their accomplishments:
*In Inc. Magazine's 2008 "Inc. 500" list of the nation's fastest-growing private companies, Red Ventures ranked 17th overall and second among advertising and marketing companies. (August 2008)
*In Inc. Magazine’s 2007 “Inc. 500” list of the nation’s fastest-growing private companies, Red Ventures ranked fourth overall and first among advertising and marketing companies. (September 2007)
*CMO Dan Feldstein was named to the Charlotte Business Journal’s “Forty under 40” list (June 2007) [”40 under 40 2007”, Charlotte Business Journal, June 8, 2007]
*DirectStarTV President Joe Peterson was named to the Charlotte Business Journal’s “Forty under 40” list (June 2008) [ [http://charlotte.bizjournals.com/charlotte/stories/2008/06/09/focus26.html ”Forty under 40 2008”,] , Charlotte Business Journal, June 6, 2008]
*Christy Durbin, president of Radio Sales Group and Education Enrollment Services, was a recipient of the Charlotte Business Journal’s Women in Business Achievement Award (July 2008) [ [http://charlotte.bizjournals.com/charlotte/stories/2008/07/14/daily45.html ”Charlotte women honored for achievement”] , Charlotte Business Journal, July 17, 2008]

References