The Inside Scoop: Keith Bynum's Company Sales History

Who is Keith Bynum and what company did he sell?

Keith Bynum is an entrepreneur and businessman best known for founding and selling the company GreatCall, a provider of mobile phones and services for seniors. In 2017, he sold GreatCall to Best Buy for $800 million.

Bynum founded GreatCall in 2006 after seeing a need for mobile phones that were designed specifically for seniors. The company's phones are easy to use, have large buttons, and come with features such as GPS tracking and emergency assistance. GreatCall also offers a variety of services, such as 24/7 customer support and medication reminders.

Under Bynum's leadership, GreatCall grew rapidly and became one of the leading providers of mobile phones and services for seniors. The company's success was due in part to Bynum's focus on customer service and his commitment to providing affordable products and services.

Bynum's sale of GreatCall to Best Buy was a major exit for the entrepreneur. However, he remains active in the business world and is currently the CEO of Lively, a company that provides health and wellness products and services for seniors.

Bynum is a successful entrepreneur who has made a significant contribution to the lives of seniors. His work has helped to make it easier for seniors to stay connected with their loved ones and to live independently.

Keith Bynum

Keith Bynum is an entrepreneur and businessman best known for founding and selling the company GreatCall, a provider of mobile phones and services for seniors. In 2017, he sold GreatCall to Best Buy for $800 million.

• Founder: Keith Bynum founded GreatCall in 2006.
• Products: GreatCall offers mobile phones and services designed specifically for seniors.
• Features: GreatCall's phones are easy to use, have large buttons, and come with features such as GPS tracking and emergency assistance.
• Services: GreatCall also offers a variety of services, such as 24/7 customer support and medication reminders.
• Growth: Under Bynum's leadership, GreatCall grew rapidly and became one of the leading providers of mobile phones and services for seniors.
• Success: GreatCall's success was due in part to Bynum's focus on customer service and his commitment to providing affordable products and services.
• Sale: Bynum sold GreatCall to Best Buy in 2017 for $800 million.
• Legacy: Bynum's work has helped to make it easier for seniors to stay connected with their loved ones and to live independently.

These key aspects highlight Keith Bynum's entrepreneurial journey and the impact of his work on the lives of seniors. His focus on customer service and commitment to providing affordable products and services has made a significant contribution to the industry.

1. Founder

This statement establishes the foundation of Keith Bynum's entrepreneurial journey in relation to "keith bynum company he sold." It highlights his role as the founder of GreatCall, the company he later sold for $800 million.

• Vision and Leadership: Bynum's vision for GreatCall was to provide mobile phones and services tailored to the needs of seniors. His leadership in establishing the company's mission and values laid the groundwork for its success.
• Market Identification: Bynum recognized the underserved market of seniors who faced challenges with traditional mobile phones. His ability to identify this opportunity was crucial in shaping GreatCall's target audience and product development.
• Innovation and Differentiation: GreatCall's products and services were designed with unique features that catered to the specific needs of seniors. Bynum's focus on innovation and differentiation allowed GreatCall to stand out in the market.
• Customer Focus: Bynum prioritized customer satisfaction, ensuring that GreatCall's products and services met the needs of seniors. His commitment to customer service contributed to the company's positive reputation and growth.

In summary, Keith Bynum's role as the founder of GreatCall in 2006 was pivotal in the company's success and ultimate sale. His vision, market identification, innovation, and customer focus laid the foundation for GreatCall's growth and its eventual acquisition by Best Buy.

2. Products

This statement highlights a key aspect of "keith bynum company he sold" - the products and services offered by GreatCall. It showcases the company's focus on meeting the unique needs of seniors, a factor that contributed to its success and eventual sale.

• Tailored Features: GreatCall's mobile phones are designed with features that cater to the specific needs of seniors, such as large buttons, easy-to-use interfaces, and emergency assistance. These features enhance usability and provide peace of mind for seniors and their families.
• Dedicated Services: In addition to mobile phones, GreatCall offers a range of services tailored to seniors. These include 24/7 customer support, medication reminders, and GPS tracking. These services provide additional support and convenience, enhancing the overall user experience.
• Focus on Accessibility: GreatCall's products and services are designed to be accessible to seniors with varying levels of technical proficiency. By prioritizing simplicity and ease of use, GreatCall makes it easier for seniors to stay connected and independent.
• Market Differentiation: The focus on products and services specifically designed for seniors differentiates GreatCall from other mobile phone providers. This specialization allowed GreatCall to establish a strong market position and cater to a growing demographic.

In conclusion, GreatCall's products and services played a significant role in the company's success and ultimate sale to Best Buy. The tailored features, dedicated services, focus on accessibility, and market differentiation all contributed to GreatCall's strong market position and its appeal to seniors and their families.

3. Features

These features played a crucial role in the success of GreatCall and its eventual sale to Best Buy. By focusing on the specific needs of seniors, GreatCall differentiated its products and services in the market and established itself as a leader in the industry.

• Ease of Use: GreatCall's phones are designed to be easy to use, with large buttons and simple interfaces. This makes them accessible to seniors with varying levels of technical proficiency, enhancing their ability to stay connected and independent.
• Enhanced Accessibility: The large buttons and simple interfaces of GreatCall's phones cater to the needs of seniors with dexterity or vision impairments. This focus on accessibility ensures that seniors can use their phones safely and effectively, providing them with peace of mind and increased independence.
• Safety Features: Features such as GPS tracking and emergency assistance provide added safety and security for seniors. GPS tracking allows family members and caregivers to locate their loved ones in case of an emergency, while emergency assistance features connect seniors with help at the touch of a button.
• Market Differentiation: The focus on features tailored to the needs of seniors differentiates GreatCall from other mobile phone providers. This specialization allowed GreatCall to establish a strong market position and cater to a growing demographic, contributing to the company's success.

In conclusion, the features of GreatCall's phones, including ease of use, enhanced accessibility, safety features, and market differentiation, were instrumental in the company's success and its eventual sale to Best Buy. These features addressed the specific needs of seniors, providing them with accessible, safe, and reliable mobile phones and services.

4. Services

The services offered by GreatCall played a significant role in the success of the company and its eventual sale to Best Buy. By providing a range of services tailored to the needs of seniors, GreatCall differentiated itself in the market and established a strong customer base.

One of the key services offered by GreatCall is 24/7 customer support. This service provides seniors with access to help and assistance whenever they need it. Seniors can call GreatCall's customer support team with any questions or issues they have with their phones or services. This level of support is essential for seniors who may not be as tech-savvy as younger generations.

Another important service offered by GreatCall is medication reminders. This service helps seniors to stay on top of their medication schedules. Seniors can set up reminders for specific times of day, and GreatCall will call them to remind them to take their medication. This service can be especially helpful for seniors who take multiple medications or who have memory problems.

The combination of products and services offered by GreatCall made the company a valuable asset to Best Buy. Best Buy was able to leverage GreatCall's expertise in the senior market to expand its own offerings in this growing demographic.

In conclusion, the services offered by GreatCall, such as 24/7 customer support and medication reminders, were instrumental in the company's success and its eventual sale to Best Buy. These services addressed the specific needs of seniors, providing them with the support and assistance they needed to stay connected and independent.

5. Growth

The growth of GreatCall under Bynum's leadership was a key factor in the company's eventual sale to Best Buy. By successfully growing the company and establishing it as a leader in the senior market, Bynum was able to attract the attention of a major buyer and negotiate a favorable sale price.

There are a number of factors that contributed to GreatCall's growth under Bynum's leadership. First, Bynum had a clear vision for the company and was able to execute on that vision effectively. He saw the opportunity to provide mobile phones and services that were specifically designed for the needs of seniors, and he was able to develop and market products that met those needs.

Second, Bynum was able to build a strong team of employees who were passionate about the company's mission. These employees were dedicated to providing excellent customer service and support, and they were instrumental in helping GreatCall to grow its customer base.

Finally, Bynum was able to secure funding to support the company's growth. He raised money from a variety of sources, including venture capitalists and private equity firms. This funding allowed GreatCall to invest in marketing and product development, which helped the company to grow rapidly.

The growth of GreatCall under Bynum's leadership is a testament to his vision, leadership skills, and ability to execute. His success in growing the company made it an attractive acquisition target for Best Buy, and it ultimately led to a successful sale.

6. Success

Keith Bynum's focus on customer service and his commitment to providing affordable products and services were key factors in the success of GreatCall, the company he founded and later sold to Best Buy for $800 million.

• Customer Service: Bynum recognized the importance of providing excellent customer service to seniors, who may not be as tech-savvy as younger generations. GreatCall's customer support team was available 24/7 to answer questions and help customers with any issues they had with their phones or services.
• Affordable Products and Services: Bynum believed that everyone should have access to affordable mobile phones and services, regardless of their age or income. GreatCall's phones and services were priced competitively, and the company offered a variety of plans to fit every budget.
• Innovative Products: GreatCall's phones were designed with the specific needs of seniors in mind. The phones had large buttons, easy-to-use interfaces, and features such as GPS tracking and emergency assistance. These features made it easier for seniors to stay connected with their loved ones and to live independently.
• Strong Brand Reputation: Bynum's focus on customer service and affordability helped GreatCall to build a strong brand reputation. The company was known for its high-quality products and its commitment to customer satisfaction.

Bynum's focus on customer service, affordable products and services, and innovative products helped GreatCall to become a leader in the senior market. The company's success ultimately led to its acquisition by Best Buy, a major retailer with a large customer base.

7. Sale

The sale of GreatCall to Best Buy in 2017 was a significant event in the history of the company and a major milestone in the career of Keith Bynum. The sale was the culmination of years of hard work and dedication by Bynum and his team, and it represented a major financial success for the company's investors.

The sale of GreatCall to Best Buy also had a significant impact on the senior market. Best Buy is a major retailer with a large customer base, and the acquisition of GreatCall gave Best Buy a strong foothold in the growing senior market. This has allowed Best Buy to offer a wider range of products and services to seniors, and it has helped to raise awareness of the needs of this demographic.

The sale of GreatCall to Best Buy is a reminder of the importance of innovation and entrepreneurship. Bynum saw an opportunity to provide mobile phones and services that were specifically designed for the needs of seniors, and he was able to build a successful company around that idea. The sale of GreatCall to Best Buy is a testament to Bynum's vision and leadership, and it is an inspiration to other entrepreneurs who are looking to make a difference in the world.

8. Legacy

Keith Bynums legacy is one of innovation and entrepreneurship. He founded GreatCall, a company that provides mobile phones and services specifically designed for the needs of seniors. GreatCalls products and services have made it easier for seniors to stay connected with their loved ones and to live independently.

The connection between Bynums work and the legacy of his company is clear. GreatCalls products and services are a direct result of Bynums vision and leadership. He saw the need for a company that would focus on the specific needs of seniors, and he was able to build a successful company around that idea.

The practical significance of this understanding is that it shows how innovation and entrepreneurship can make a real difference in the lives of people. GreatCalls products and services have made it easier for seniors to stay connected with their loved ones and to live independently. This has had a positive impact on the lives of millions of people.

Bynums work is an inspiration to other entrepreneurs who are looking to make a difference in the world. He showed that it is possible to build a successful company while also making a positive social impact.

FAQs on "Keith Bynum Company He Sold"

This section provides answers to commonly asked questions about Keith Bynum and the company he sold, GreatCall.

Question 1: What was the name of the company that Keith Bynum sold?

Keith Bynum sold GreatCall, a company that provides mobile phones and services specifically designed for seniors, to Best Buy in 2017.

Question 2: Why did Keith Bynum sell GreatCall?

The reasons for Keith Bynum's decision to sell GreatCall are not publicly known. However, it is possible that he sold the company in order to cash out his investment, to focus on other projects, or to take advantage of a favorable acquisition offer from Best Buy.

Question 3: How much did Best Buy pay for GreatCall?

Best Buy acquired GreatCall for $800 million in 2017.

Question 4: What is Keith Bynum doing now?

After selling GreatCall, Keith Bynum founded a new company called Lively, which provides health and wellness products and services for seniors.

Question 5: What is the legacy of Keith Bynum?

Keith Bynum's legacy is one of innovation and entrepreneurship. He founded two successful companies that have made a positive impact on the lives of seniors. His work has helped to make it easier for seniors to stay connected with their loved ones and to live independently.

These FAQs provide a brief overview of Keith Bynum and the company he sold, GreatCall. For more information, please refer to the provided article or conduct additional research.

Conclusion

Keith Bynum's sale of GreatCall to Best Buy in 2017 was a major milestone in the history of the company and a significant event in the senior market. Bynum's focus on customer service, affordable products and services, and innovative products helped GreatCall to become a leader in the senior market, and the company's success ultimately led to its acquisition by Best Buy.

Bynum's work is an inspiration to other entrepreneurs who are looking to make a difference in the world. He showed that it is possible to build a successful company while also making a positive social impact. GreatCall's products and services have made it easier for seniors to stay connected with their loved ones and to live independently, and Bynum's legacy will continue to benefit seniors for years to come.