Best Buy

Best Buy is a leading multinational retailer specializing in technology and entertainment products, offering a diverse range of consumer electronics, personal computers, and entertainment software. Established in 1966 and headquartered in Litchfield, Minnesota, the company operates numerous retail locations across the United States, Canada, and other regions. Best Buy's extensive product portfolio includes televisions, digital cameras, mobile electronics, home appliances, and entertainment software. The company also provides various services, such as extended warranties, product repairs, and installation services. Best Buy has significantly expanded its e-commerce operations, with online sales doubling since the onset of the COVID-19 pandemic. The retailer is recognized for its customer service initiatives, notably through its Geek Squad support team. With over 155,000 employees, Best Buy continues to play a vital role in the North American consumer electronics market, boasting a substantial share of both online and offline sales.

Whit Alexander

Executive Vice President and Chief Strategy Officer

Ray Sliva

President of Retail

21 past transactions

Critical Signal Technologies

Acquisition in 2019
Critical Signal Technologies, Inc. is a health services company specializing in remote patient monitoring. Founded in 2006 and headquartered in Novi, Michigan, the company offers a comprehensive range of services, including personal emergency response systems, wellness concierge support, chronic disease management, and telehealth solutions. Its primary focus is to assist older adults, individuals with disabilities, and those managing chronic illnesses in maintaining their independence at home. Critical Signal Technologies employs a proprietary social work model that addresses the holistic needs of patients, aiming to enhance care quality, improve health outcomes, and reduce costs through user-friendly devices and dedicated monitoring by social workers. As of 2019, the company operates as a subsidiary of GreatCall, Inc.

Swirl

Acquisition in 2019
Swirl is a provider of an in-store mobile marketing platform aimed at helping retailers enhance consumer engagement during the shopping experience. The company utilizes proprietary micro-location technology to deliver targeted messages, content, and offers to shoppers' smartphones based on their specific locations within the store. By integrating patent-pending indoor location beacons with cloud-based marketing campaign management services, Swirl enables retailers to create a personalized in-store mobile experience. Additionally, their software development kit allows retailers to incorporate these capabilities into existing mobile applications, ultimately increasing store traffic, customer engagement, and sales conversions.

Lively

Acquisition in 2018
Lively, a subsidiary of Best Buy, specializes in mobile health and safety solutions tailored for older adults and their caregivers. The company provides a range of products designed to enhance independence and safety for aging consumers, including personal emergency response systems, medical alert devices, and user-friendly mobile phones. Its offerings encompass health and safety applications such as Urgent Care, which provides medical resources, and MedCoach, focused on medication management. Lively also features wearable devices and home monitoring solutions, expanding its portfolio through the acquisition of Healthsense to enhance passive remote monitoring services. With a commitment to accessible technology, Lively serves over 900,000 subscribers across the United States, ensuring they have direct access to trained agents for emergency assistance and additional support.

AddStructure

Seed Round in 2017
AddStructure offer a white-labeled natural language understanding (NLU) platform that Retailers and Brands can use to enable conversational commerce channels. Each day, millions of consumers interact with AddStructure's products: Signal Search, Path, and Scaffold. Applications of their technology range from review summarization (distilling thousands of reviews of a product into digestible pros and cons) to a complete conversational commerce system (chatting with an intelligent digital assistant to find and purchase products).

Zubie

Seed Round in 2012
Zubie is a connected vehicle services company focused on providing consumers and businesses relevant vehicle health, location, and safety information. With a simple plug-in of the Zubie key, users can easily monitor their vehicle data through its Zubie mobile apps for both iOS and Android. Learn more about our low-cost fleet management solution for businesses at http://zubie.com/fleet or our consumer offering at http://zubie.com. A Zubie subscription includes the Zubie Key (OBDII device), iOS/Android apps, and online web portal.

mindSHIFT Technologies

Acquisition in 2011
mindSHIFT creats a managed IT environment where leading technology resources and proactive management are available and affordable for organizations of all sizes. mindSHIFT is accredited by the MSP Alliance, the international organization of managed services providers. As a member of the Managed Services Accreditation Program, mindSHIFT counts itself as one of the top managed IT services providers in the world.

Partsearch Technologies

Acquisition in 2011
Partsearch Technologies owns and operates an online replacement parts platform for consumer electronics and home appliances. The company maintains a catalog of various parts and accessories for purchase in the categories of electronics, major and small appliances, computers, wireless, outdoor power equipment, and home improvement products. It also provides parts procurement services to retail partners, warranty administrators, and their customers; operates consumer-focused online stores; and offers web-based solutions for independent contractors and small businesses. Partsearch Technologies serves customers in the service, in-warranty and extended warranty repair, retail, and consumer markets. The company was founded in 2000 and is based in Litchfield, Minnesota.

SiBEAM

Funding Round in 2010
SiBEAM is a fabless semiconductor company developing intelligent millimeter wave technologies and leveraging the latest manufacturing methods to meet the demand for high-bandwidth services. SiBEAM is the first to build 60 GHz chipsets using CMOS technology. The first of many applications for SiBEAM’s innovative technology is based on WirelessHD.

Five Star Appliance

Acquisition in 2009
Five Star is the third largest retailer of consumer electronic appliances in China and is headquartered in Nanjing. Its sales revenue was 23 billion yuan in 2008. Five Star has opened 170 stores in seven provinces across China (Jiangsu, Anhui, Zhejiang, Shandong, Henan, Sichuan and Yunnan) and employs more than 8,000 people.

Dealtree

Acquisition in 2008
Dealtree, acquired by Best Buy in 2008, serves as the technological foundation for Best Buy's consumer returns and trade-in programs, as well as its liquidation channels. The company specializes in developing software products and services that facilitate the management of online auctions and streamline logistics and returns processing for used goods. This enables customers to receive efficient support in their product trade-in activities, enhancing the overall experience for both consumers and the retailer.

Napster

Acquisition in 2008
Napster is a music streaming service that provides users with unlimited, on-demand access to a vast library of music, allowing them to discover, share, and enjoy music anytime and anywhere. The platform is accessible through web browsers, smartphones, and home entertainment devices, ensuring a seamless music experience across various locations. Operating primarily in the United States, Canada, Germany, and the United Kingdom, Napster aims to enhance how users interact with music. Headquartered in Los Angeles, Napster is a wholly owned subsidiary of Best Buy, Inc.

Mydeo

Series A in 2007
Mydeo is the social video site which now serves as the architecture for Best Buy's video sharing service. Best Buy Video Sharing is a subscription-based service for users to upload their personal videos for storage, but also allows them to share select videos on web sites and blogs, while controlling who views the video. Out of all the social video sites in America, Best Buy chose Mydeo which operates in Wimbledon Britain. Mydeo's foundations in Microsoft Movie Maker suggest that there was possibly an introduction between Mydeo and Best Buy from Microsoft. Best Buy owns a minority share as by terms of their partnership. Best Buy, the largest electronics retailer in the US, sells around a third of all video cameras sold each year. Significantly, a large percentage of those are sold to Mydeo's target audiences of families and small businesses, who tend to use Movie Maker.

Avnera

Series C in 2007
Avnera Corporation specializes in designing and developing analog system-on-chip (ASoC) technology products for the consumer audio industry. The company focuses on creating highly-integrated application-specific integrated circuits (ICs) that cater to various audio and voice applications. Its product offerings include wireless audio ASoC solutions for gaming headsets, home theater systems, and wireless microphones, as well as sound processor ASoC products for soundbars and Bluetooth speakers. Avnera's expertise lies in integrating diverse circuit types, including RF, power management, audio data converters, and programmable digital signal processors, onto single pieces of silicon, achieving high performance at a low system cost. The company serves a wide range of customers in the audio market, including well-known brands such as Logitech, Panasonic, and Polycom. Incorporated in 2003 and based in Beaverton, Oregon, Avnera operates as a subsidiary of Skyworks Solutions, Inc.

Speakeasy

Acquisition in 2007
Speakeasy is one of the nation's leading broadband voice (VoIP), data and IT service providers. Speakeasy helps small businesses succeed by offering simplified voice and data solutions that improve the customer experience, increase employee productivity and help cut costs. Based in Seattle, Speakeasy has provided award-winning customer service since 1994 and joined the Best Buy family of companies in April 2007, working with Best Buy For Business to champion technology for small businesses throughout the U.S.

Jiangsu Five Star Appliance

Acquisition in 2006
Jiangsu Five Star Appliance Co., Ltd. (Five Star), China's fourth-largest appliance and consumer electronics retailer.

Pacific Sales

Acquisition in 2006
Pacific Sales Kitchen and Bath Centers, the nation's 10th largest white-goods dealer.

Geek Squad

Acquisition in 2002
Geek Squad is a national service provider specializing in technology support and maintenance. With a team of approximately 20,000 skilled technicians, including computing agents, home entertainment installers, and appliance repair experts, Geek Squad operates from precincts located in Best Buy stores, standalone locations, and various service centers across the United States. The company offers 24-hour assistance, addressing a wide range of technology challenges, from hardware and software issues to on-site repairs and tailored assessments. By delivering comprehensive IT maintenance services, Geek Squad aims to ensure that customers receive reliable and effective solutions to their technology needs.

Future Shop

Acquisition in 2001
In almost 30 years, Future Shop has grown from a “one store operation” located in Vancouver, British Columbia, to Canada’s largest retailer and e-tailer of consumer electronics with 140 stores from coast to coast, and an average of over 125,000 unique visitors to the website every day. (see store locations). Established in 1982, Future Shop’s first store was located in Vancouver, British Columbia and showcased 4,000 square feet of the latest consumer electronics. During the late 1980s, Future Shop followed an aggressive growth strategy, quickly expanding operations into the provinces of Alberta Manitoba and Ontario. By 1990, Future Shop had become Canada’s largest electronics retailer. Throughout the 90's Future Shop continued to expand into the remaining provinces in Canada and by fiscal 2001 annual sales had surpassed $2 billion. On March 28, 2015, Best Buy (Future Shop's parent company) announced the discontinuation of the brand and the permanent closure of 66 of its locations. The remaining stores were consolidated into the Best Buy chain.

Magnolia Hi-Fi

Acquisition in 2000
Magnolia Hi-Fi sells audio, TV and video, furniture, home integration, and accessories.

Musicland Stores Corporation

Acquisition in 2000
Minnesota-based Best Buy is the leading consumer electronics retailer in the United States, far outpacing archrival Circuit City Stores

Simplexity

Series B in 2000
Simplexity is changing the way telecommunications are bought and sold. The Simplexity.com website, and Simplexity's unique and powerful XACTtm architecture, have attracted major telecommunications carriers and strategic partners. The company's mission is to help bring clarity to the complex and confusing telecommunications marketplace. Simplexity enables users to learn about and compare the thousands of options available to them and enables carriers to interact directly with small and medium businesses, the fastest growing but most fragmented segment of the telecom market.
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