Careers at Glassbridge Enterprises
Glassbridge’s mission is to be the recognized global leader in the removable data storage media industry across all segments of the market; the trusted source for digital storage of information important to consumers and businesses alike; and the independent experts in data storage back-up, archiving, security, and protection.
In the mid-1990s, conglomerate 3M Corporation was facing intense competition for its data storage and medical imaging businesses. This threat was causing them to lose money. The company felt that its best option was to spin-off the units as a separate firm so it could concentrate on its consumer, life sciences, and industrial product lines. It saw several likely advantages to this strategy.
Spinning off the divisions would enable them to streamline their operations, which would allow the new company to move nimbly. Also, being an independent entity would make it attractive to Wall Street and facilitate growth through public stock offerings. In late 1995 3M laid off several employees in preparation for the change. In 1996 it spun out the units into a new firm called Imation.
Imation began its life in an enviable position. It already had customers in 60 countries, over 10,000 products, a stockpile of over 1,800 patents, and the ability to market its offerings under the prominent 3M brand name. It was already the world’s largest supplier of categories such as branded removable magnetic and optical media and medical imaging systems in various categories.
Imation performed strongly through the rest of the 1990s and the next decade. During that time it divested many non-core units, so that by the 2010s its only divisions were traditional storage (optical and magnetic tape products), scalable and secure storage (data archive, data backup, and data security for small/medium businesses) and audio and video information” products.
That decade it completed numerous acquisitions; in 2011 alone there were five. This activity enabled it to branch into headphones, consumer electronics, and accessories. In 2016 it shut down its storage media and accessories business. In early 2017 it changed its name to Glassbridge Enterprises. It is now actively exploring strategic asset management business opportunities for its portfolio.
Business model of Glassbridge Enterprises
Glassbridge has a segmented market business model, with customer groups that have slightly different needs. The company targets its offerings at individual consumers and businesses.
Glassbridge offers two primary value propositions: accessibility and innovation.
The company creates accessibility by providing a wide variety of options. It has acquired several firms since its founding, including Connected Data, Nexsan, ProStor Systems, MXI Security, ENCRYPTX, and Memorex. This strategy has enabled it to greatly expand its capabilities and diversify its portfolio.
The company offers many innovations thanks to its 3M lineage. It has been involved in developing numerous technological improvements in data storage, including the release of the first magnetic tape in 1947, the first quarter-inch tape cartridge for data storage in 1971, and the 3.5-inch floppy disk in 1984.
Glassbridge’s main channels are distributors and value-added resellers. It also sells its offerings through retailers, original equipment manufacturers, and its direct sales team. The company promotes its offerings through its website, social media pages, and participation in conferences.
Glassbridge’s customer relationship is primarily of a self-service, automated nature. Customers utilize its products while having limited interaction with employees. That said, there is a personal assistance component in the form of phone and e-mail support.
Glassbridge’s business model entails designing and developing its software products for customers.
Glassbridge’s key partners include the suppliers that provide it with the components and semi-finished products it needs to develop its products. They are primarily based in the United States, Mexico, and China. It also depends upon third-party firms to manufacture certain products.
Glassbridge’s main resources are its human resources, who include the engineers that design and develop its products, the sales employees that promote it, and the customer service personnel that provide support.
It places a high priority on intellectual property, with over 180 patents in the United States and several trademarks as of 2015.
Glassbridge has a cost-driven structure, aiming to minimize expenses through significant automation. Its biggest cost driver is sales/marketing, a fixed cost.
Other major drivers are cost of goods sold, a variable expense, and research/development and administration, both fixed costs.
Glassbridge has one revenue stream: revenues it generates from the sale of its products to customers.
info: Danny earned a Bachelor’s degree in Accounting and Finance at Nankai University and an MBA at the University of Pennsylvania. He previously served as VP of Finance and Global Controller/Treasurer at Imation.
info: Tavis earned a B.A. degree in Political Science, a B.S. degree in Economics at the University of Pennsylvania, and a J.D. at the Boston College of Law. He previously served as a Senior Corporate Attorney at SUPERVALU.
info: Daniel earned a Bachelor’s degree at the Leonard School of Business. He previously served as Chief Operating Officer and Secretary of ROI Acquisition Corporation and as Senior VP and Portfolio Manager of Clinton Group.
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