Audio technology for gaming (NASDAQ: HEAR).
Turtle Beach has a long history of excellence in audio technology having released a portfolio of widely acclaimed audio products over the past twenty five years. The Company was founded by two audiophiles passionate about building superior, differentiated and proprietary audio consumer electronics. Turtle Beach is the leading worldwide provider of feature-rich headset solutions for use across multiple platforms. In 2014, Turtle Beach merged with Parametric Sound Corporation, the creator of HyperSound, a novel patent-protected sound delivery technology.
In 2010, in order to strengthen Turtle Beach’s #1 market positioning in headsets for gaming, the Founders were looking for a partner to help the business increase its distribution domestically, develop an international strategy, invest in point of sale improvements and build out the team. The Stripes team was an ideal partner given its entrepreneurial background, operating experience and relevant network, including Ron Doornink (previous CEO and Chairman of Activision and an operating partner of Stripes Group) who joined the Company as executive chairman. To Stripes, Turtle Beach was an ideal consumer investment given its best-in-class premium products, market leadership position and authentic brand.
Upon closing the investment, the Stripes team began actively working with Turtle Beach to realize the Company’s growth opportunities domestically and abroad. With Ron Doornink as Executive Chairman and Karen Kenworthy as a member of management, the Company increased points of distribution domestically to over 200,000, establishing global distribution relationships with retailers including Best Buy, GameStop, Wal-Mart, Target, Game U.K., Kmart and Amazon.com. Since Stripes’ investment, the Company has also inserted more than 15,000 kiosks domestically and abroad and has set up distribution partners in Europe and Asia who have proved to be highly valuable partners to Turtle Beach as the brand extended its reach beyond North America. The Company also successfully initiated a partnership with Activision to create the highly coveted Call of Duty headsets, a partnership which has helped to solidify Turtle Beach’s role as a leading provider of gaming headsets worldwide.
The Stripes team has also helped to recruit valuable team members, including the Company’s CEO, Juergen Stark, who was previously COO and SVP of Mobile Devices at Motorola Mobility Holdings, Inc. (previously NYSE:MMI). Juergen, along with the rest of Turtle Beach team, has helped to solidify Turtle Beach’s dominant market position in gaming headsets, continued differentiation in audio technology and unparalleled industry reputation. The Company continues to provide a superior audio experience to both Turtle Beach and HyperSound customers.