Summary of Vivint Smart Home, Inc.
Vivint Smart Home, Inc. is a smart home company in the United States and Canada, and a subsidiary of NRG Energy. It was founded by Keith Nellesen and Todd Pedersen in 1999. The company was acquired by The Blackstone Group in 2012 for more than $2 billion. Provo, Utah-based Vivint was bought by Blackstone for over $2 billion in 2012. Vivint then became publicly listed through a reverse merger with Mosaic Acquisition, a special-purpose acquisition company of SoftBank Corp. Vivint has encountered legal issues with a class action lawsuit accusing the company of false and deceptive sales practices. Vivint has faced fines in the past, including a $20 million fine for misusing consumer credit reports and stealing personal information. The CEO of Vivint, David Bywater, has an estimated net worth of $52 million. Vivint is not a Mormon-owned company, but its CEO Todd Peterson is a member of the Latter Day Saints (Mormon church).
Key Points:
- Vivint Smart Home: A smart home company in the US and Canada, acquired by The Blackstone Group in 2012.
- Ownership: Vivint is a subsidiary of NRG Energy.
- Acquisition: The company was bought by Blackstone for over $2 billion in 2012.
- Public Listing: Vivint became publicly listed through a reverse merger with Mosaic Acquisition, a special-purpose acquisition company of SoftBank Corp.
- Legal Issues: Vivint has faced a class action lawsuit accusing the company of false and deceptive sales practices.
- Fines: Vivint has been fined $20 million for misusing consumer credit reports and stealing personal information.
- CEO’s Net Worth: The CEO of Vivint, David Bywater, has an estimated net worth of $52 million.
- Religious Affiliation: Vivint is not a Mormon-owned company, but its CEO Todd Peterson is a member of the Latter Day Saints (Mormon church).
- Oldest Home Security Company: The oldest home security company is American District Telegraph (ADT), founded in 1874.
- Founder: Edward Callahan created the first residential security system network by connecting 50 homes with a telegraph-based “call-box.”
Questions:
- What is Vivint’s net worth?
Vivint was acquired by The Blackstone Group in 2012 for more than $2 billion. - What company owns Vivint security?
NRG Energy owns Vivint Smart Home, Inc. - Is Vivint a publicly traded company?
Yes, Vivint became publicly listed through a reverse merger with Mosaic Acquisition. - Is there a class action lawsuit against Vivint?
Yes, there is a class action lawsuit against Vivint alleging false and deceptive sales practices. - Is Vivint a Mormon-owned company?
No, but the CEO of Vivint, Todd Peterson, is a member of the Latter Day Saints (Mormon church). - How much is the CEO of Vivint worth?
The estimated net worth of Vivint’s CEO, David Bywater, is $52 million. - Why was Vivint fined $20 million?
Vivint was fined $20 million for misusing consumer credit reports and stealing personal information. - What is the oldest home security company?
The oldest home security company is American District Telegraph (ADT), founded in 1874.
Please note that the information provided above is based on available sources and may not fully represent the current status or details of Vivint Smart Home, Inc. or its operations.
What is Vivint’s net worth
The company was acquired by The Blackstone Group in 2012 for more than $2 billion. Use Forbes logos and quotes in your marketing.
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What company owns vivint security
NRG Energy
Vivint Smart Home, Inc. is a smart home company in the United States and Canada, and a subsidiary of NRG Energy. It was founded by Keith Nellesen and Todd Pedersen in 1999.
CachedSimilar
Is Vivint a publicly traded company
Provo, Utah-based Vivint was bought by Blackstone for over $2 billion in 2012. Vivint then became publicly listed through a reverse merger with Mosaic Acquisition, a special-purpose acquisition company of SoftBank Corp. Our Standards: The Thomson Reuters Trust Principles.
Is there a class action lawsuit against Vivint
Originally filed in 2020, the lawsuit went to court early in 2022 accusing Vivint of “false and deceptive sales practices on the doorsteps and in the homes of significant numbers of CPI customers across the Southeast” in an effort to take over their alarm systems.
Is Vivint a Mormon owned company
Story of how it was founded: CEO Todd Peterson, a member of the Latter Day Saints (Mormon church), served two years as a missionary knocking on doors to spread his faith. Returning back to Brigham Young University in Provo, he decided to start a business.
How much is the CEO of Vivint worth
The estimated net worth of David Bywater is at least $52 Million dollars as of 2023-06-07. David Bywater is the CEO of Vivint Solar Inc and owns about 1,097,713 shares of Vivint Solar Inc (VSLR) stock worth over $47 Million.
Why was Vivint fined $20 million
“Vivint's sales staff stole people's personal information to approve others for loans,” said Daniel Kaufman, Acting Director of the FTC's Bureau of Consumer Protection. “For misusing consumer credit reports and other sensitive data, and harming people's credit, this company will pay $20 million.”
What is the oldest home security company
American District Telegraph (ADT)
1874–1890
American District Telegraph (ADT) Founder Edward Callahan created a telegraph-based "call-box" to signal for assistance to a central office. He quickly connected 50 other homes in the neighborhood, creating the first residential security system network.
What is the old name for Vivint
The company originated in 1999 as now well-known APX Alarm. In February 2011, the company was rebranded with the name of Vivint, which derives from the words “vive” (to live) and “intelligent” (smart).
What is the vivint controversy
| Feb. 17, 2023, 2:50 p.m. A federal jury in North Carolina ordered Utah-based Vivint Smart Home to pay $189 million to a home security competitor over a lawsuit alleging “deceptive practices.” The competitor, CPI, sued Vivint alleging it used deceptive tactics to try and sign CPI customers.
Why was vivint fined $20 million
Cpi Security Systems, Inc.
Is Vivint cheaper than ADT
ADT and Vivint both offer professional installation and similar base packages. However, Vivint has lower prices than ADT on its monthly monitoring packages, while ADT has clearer pricing. Vivint ties for No. 2 on our list of the Best Home Security Systems of 2023, is No.
What is the largest Mormon organization
The largest denomination within the contemporary movement is the LDS Church, with approximately 17 million members. It is headquartered in Salt Lake City, Utah, and uses the term Latter-day Saints to describe itself and its members (note the hyphenation and variation in capitalization usage).
What happened to the old CEO of Vivint
In 2016 Pedersen was involved in a fatal accident during the SCORE Baja 500 off-road race. 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.
What is the Vivint controversy
| Feb. 17, 2023, 2:50 p.m. A federal jury in North Carolina ordered Utah-based Vivint Smart Home to pay $189 million to a home security competitor over a lawsuit alleging “deceptive practices.” The competitor, CPI, sued Vivint alleging it used deceptive tactics to try and sign CPI customers.
What is the #1 rated home security
Vivint is our pick for the best overall security system. With an average rating of 4.6 stars across numerous customer review forums, Vivint reaches a wide range of customers through its system's compatibility with many smart home products.
Who is the largest privately owned security
Biggest Private Security Companies in the WorldConstellis.Unity Resources Group.CACI International Inc.ICTS International N.V.The Brink's Company.Booz Allen Hamilton Inc. 2021 Revenue: $7.86 billion.Control Risks. Revenue as of 2021: $300 million.GardaWorld Corporation. 2021 Revenue: $2.71 billion.
Who are the owners of Vivent
Todd Pedersen is the founder and CEO of Vivint, a public company that installs smart home security systems, mainly through door-to-door sales.
Do you own your equipment from Vivint
Do I own or lease Vivint's home security system You own the equipment. You can either pay for all the equipment up front or pay for it over the course of a few years. If you decide to pay for it over time, Vivint offers 0% APR so there's no added interest.
How many customers does Vivint home security have
Dedicated to redefining the home experience with intelligent products and services, Vivint serves more than 1.9 million customers throughout the United States .
Is LDS growing or Shrinking
In recent years, the global faith of 16.8 million has grown by less than 1% annually and, in fact, is shrinking in a number of regions. In the United States over the past two years, for instance, 21 states saw Latter-day Saint membership decline.
What is the smallest LDS mission in the world
The LDS Church mission with the smallest geographic area (approximately 10 acres) is the Utah Salt Lake Temple Square Mission, in which missionaries from around the world serve on Temple Square, often to visitors from their own homelands.
Is Vivint a Chinese company
Provo, Utah-based Vivint became a public company last year after merging with Mosaic Acquisition Corp., a special purpose acquisition company. The deal marked one of the largest U.S. SPAC mergers ever, carrying an enterprise value of $4.2 billion.
What is the number 1 security system in the US
Compare the best home security systems
| Brand | Best for | Smart home compatibility |
|---|---|---|
| Vivint | Best overall | Amazon, Google, Z-Wave |
| SimpliSafe | Best DIY security | Amazon, Google |
| ADT | Most experienced | Amazon, Google, Z-Wave |
| Cove | Best customer experience | Amazon, Google |
What security is better than ADT
Vivint is the clear winner when it comes to automation and smart home integration. Their devices easily connect to Amazon Alexa and the Google Assistant and, unlike ADT, don't require an upgrade to your monthly payments.
