Monoprice

Monoprice

Monoprice

American online retailer

Monoprice is an American online retailer that sells generic-branded consumer electronics under its namesake private label, as well as name brand consumer electronics and outdoor equipment. The company is based in Rancho Cucamonga, California.

Quick Facts Industry, Founded ...

The office and shipping operations are run out of a 173,000 square-foot warehouse. As of 2013, Monoprice is a $120 million-a-year business.[1]

History

Monoprice was founded in 2002 by Jong Lee and Seok Hong.[2]

On February 5, 2013, Monoprice released new products at the Consumer Electronics Show in Las Vegas, including an IPS panel monitor and a small portable video camera called the MHD Action Camera.[3]

In March 2013, Monoprice was sued by Klipsch, an American loudspeaker company, for patent infringement for the latter's Energy Take Classic 5.1 system. Monoprice had to withdraw its 5.1 Hi-Fi Home Theater Satellite Speakers & Subwoofer system.[4]

On July 7, 2013, Monoprice started selling its own brand of proprietary guitars.[5]

On August 22, 2013, Blucora acquired Monoprice for $180 million in an all-cash deal.[6]

On August 27, 2013, Monoprice joined the Electronic Entertainment Expo (E3), with PC gaming products including gaming mice, mechanical keyboards, PC speakers, and 7.1 surround sound headsets.[7]

On January 23, 2014, Monoprice returned to the NAMM Show with new professional audio products, including guitars, bass guitars, DJ products, speakers, and stage lighting products.[8]

On June 25, 2014, Monoprice's parent company, Blucora, Inc. announced the appointment of Bernard W. Luthi as President of its Monoprice subsidiary. As President, Mr. Luthi was to oversee the operations of the Monoprice e-commerce business. Luthi previously served as COO and CMO of Rakuten.com and Buy.com and SVP of Marketing, Merchandising and Web Management for Newegg.com [9]

On November 18, 2016, Monoprice and YFC-BonEagle Electric Co., Ltd. (YFC), a Taiwan-based provider of power cord sets and networking peripherals, announced that YFC acquired Monoprice in a cash transaction valued at $40 million.[10]

In 2019, The Mediahq named the Monoprice Voxel as the Best Intermediate 3D printer for 2019.[11]

References

  1. [1]
    Herrman, John (February 4, 2013). "How Monoprice Is Eating The Tech World From The Inside Out". February 4th, 2013. BUZZ FEED. Retrieved December 19, 2013.
  2. [2]
    "Jong Lee and Seok Hong, Co-founders, Monoprice, No. 197". Archived from the original on February 18, 2013. Retrieved February 15, 2013.
  3. [3]
    Knight, Shawn (February 5, 2013). "Monoprice: From underground following to legitimate electronics brand". February 5th, 2013. Tech Spot, Technology News and Analysis. Retrieved February 6, 2014.
  4. [4]
    Greene, Jay. "Hit by patent suit, Monoprice apparently pulls top-rated speakers". May 9th, 2013. CNET.com. Retrieved December 23, 2013.
  5. [5]
    Voight, Billy. "Review: $89.28 California Classic Series Guitar from Monoprice.com". Guitar World Magazine. Retrieved December 19, 2013.
  6. [6]
    "BELLEVUE, Wash.: Blucora Completes Acquisition of Monoprice | Business Wire | Rock Hill Herald Online". Archived from the original on August 24, 2013. Retrieved August 24, 2013.
  7. [7]
    Evangelho, Jason (August 27, 2013). "Monoprice's Stealthy Transition Into PC Gaming Peripherals Is Worth Paying Attention To". Forbes.com. Tech. Retrieved February 6, 2014.
  8. [8]
    WIre (January 23, 2014). "Monoprice Showcases New Pro Audio Series Products at NAMM". Sound and Picture Magazine. Retrieved January 31, 2014.
  9. [9]
    "Blucora Announces Appointment of Bernard W. Luthi as President of Monoprice (Press release)". MarketWatch. June 25, 2014. Retrieved October 26, 2019.
  10. [10]
    "Monoprice Acquisition by YFC-BonEagle Electric Co., Ltd. to Fuel Growth and Strengthen Asia Sourcing Capabilities (Press release)". GlobeNewswire (Press release). November 18, 2016. Retrieved October 26, 2019.
  11. [11]
    "Best Home 3D Printers 2019 - Reviews for Beginners and Enthusiasts". The Mediahq. October 21, 2019. Retrieved October 22, 2019.
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