Mid-Market Company of the Week: Access America TransportMany young college grads would be happy working for a large, well established company, especially if the slot put the young graduate on a glide path towards corporate success. This was not the case with Ted Alling. At the ripe age of 24, Alling and two friends from college decided to strike out on their own. Starting in a back office of a small Chattanooga-based construction supply company, Alling decided to take on his former employer and created Access America Transport (AAT). Since its founding in 2002, AAT has carved out a niche as the middleman between trucking companies and shippers, using organic technology to help companies keep their trailers full and shippers move their freight efficiently. Currently, AAT has some 6,000 customers including 100 members of the Fortune 500. Alling grafted a combination of an entrepreneurial spirit and devotion to customer satisfaction onto Access America Transport. “Access America is a people company,” says Alling, “A people company that does third party logistics.” Alling believes that as CEO, it is incumbent upon him to raise the energy level of his company. Yet, he continuously monitors the well being of each and every employee and satisfaction of each customer. Alling is the first to say he is not an innovator. He does stress that AAT’s corporate innovation comes in two forms. The first is a high sense of urgency to the execution of transporting goods on behalf of AAT’s customers. Second, Alling strives to get smart people interested in an industry that many would not usually consider for a career path. Today, AAT’s employees more than 600-people and generates annual revenues in excess of $500 million. Operational excellence is maintained by utilizing off-the-shelf and homegrown technologies which allow AAT to drive efficiencies across all modes of transportation including truckload, intermodal and specialized freight. Outside of AAT, Alling hopes to cultivate future generations of entrepreneurs. In this vein, Alling and his partners created the Lamp Post Group - a venture capital and small business incubator. Lamp Post’s goal is to assist aspiring entrepreneurs take their ideas from the planning stages to reality through financial investment and business guidance. AAT sits at #9 on Forbes’ list of America’s Most Promising companies and Alling was recently named as one of the South’s leading young entrepreneurs by the Economic Development Partnership of Alabama Foundation. //////////////////////////////////////////////// Ted Alling Title: Co-Founder & CEO - Access America Transport Size: 600-Employees Location: Chattanooga, TN Goal: Double the workforce, break the $1-billion revenue barrier, while making Access America Transport the best place to work in America. Fact: A shipment bound from Nashville to Los Angeles ran into trouble. The only way to get the delivery to the customer on time was through chartering a jet. The company lost $35,000 but the customer got their delivery. Unique: Access America Transport has a “Bring Your Instrument to Work Day” where music fosters a sense of company as community.
Mid-Market Company of the Week: YelpThe internet destroyed the Yellow Pages, a long standing consumer staple of local business information, but people still needed directories to find everything from restaurants to plumbers. That basic need for information became the foundation for Yelp. Jeremy Stoppelman left PayPal in the summer of 2003 (at the time he was VP of Engineering) to attend the Harvard Business School. Yet, the allure of Silicon Valley called and after his first year at HBS, Stoppelman joined an incubator started by Max Levchin (co-founder of PayPal) for a summer internship. It was there that Stoppelman was reunited with his former PayPal colleague Russel Simmons. Stoppelman and Simmons had been talking about doing something with local review or local search and began asking questions. How do you get your friends to help you find the best plumber or doctor or nicest restaurant close by? Soon, the duo created an e-mail type of product where you ask friends to help you come up with a ranking of businesses, a precursor of Yelp. Yelp was launched in February 2004 and took off. By June 2006, it had 1 million unique visitors per month. The site was very popular in San Francisco, but then came the question of scalability. People told Stoppelman that Yelp might work in San Francisco, but it would not fare as well in larger metropolitan areas. Stoppelman bridged this gap in New York, Boston, Los Angeles, etc. by creating the "Yelp Elite Squad." This group, comprised of the most prolific “Yelpers” were invited to social events held at bars and restaurants, thus turning an online experience into a community of like minds. “You want experimentation,” says Stoppelman, “Every once in awhile you stumble upon something that blows your mind.” According to Nielsen, 85% of consumers find local business information online. Yelp has demonstrated that it is a “go to” platform for such information. Yelp’s mobile application was used on approximately 10.4-million unique mobile devices on a monthly average basis during the second quarter of this year. 117-million people visit Yelp’s website each month and 47-million individual reviews have been written. According to Elon Musk, "Effectively, Yelp is fulfilling a much better function than the Yellow Pages ever did. What Jeremy did was come up with an unmet need to know about local businesses and services." Read more at: Source: CNN Money / Yelp CEO Jeremy Stoppelman ignored advice from Elon Musk and Peter Thiel and succeeded anyway / September 19, 2013 - http://money.cnn.com/2013/09/19/magazines/fortune/yelp-stoppelman.pr.fortune/ Source: The Startup Boys: A Conversation with Yelp.com founders Russel Simmons and Jeremy Stoppelman by Angela Balcita - http://cty.jhu.edu/imagine/docs/yelpdotcom.pdf
Jeremy Stoppelman Co-Founder & CEO - Yelp Size: 800 employees Location: San Francisco, CA Goal: Leveraging off of Yelp’s domestic success in overseas markets Fact: Every second, a consumer generates directions to or clicked to call a local business from a Yelp mobile app. Unique: When Yelp went public, after Stoppelman pushed the button to ring the opening bell on the New York Stock Exchange, he received a call from President Obama, congratulating him.