It is easy with the existing economic news to think things are bleak everywhere. But even in the current climate companies find success. Founded in 1993, FreeWave Technologies is a world leader in the innovative design and manufacture of ISM Band radios and wireless data solutions. Their data-transmitting radios span the globe from the Middle East to Mount Everest to the Amazon Rainforest to Antarctica to New York. They are used by defense contractors, oil and gas companies, city and county municipalities and industrial manufacturers.
The privately held company is based in Boulder, Colorado, the company offers network design, pre-installation engineering services and manufactures its own radios (manufacturing them in Boulder).
FreeWave’s increase in revenues of 112 percent from 2003 to 2007. The company has paid this bonus every six months since the first one was paid in July 1995. Over the past year, FreeWave has invested in expanding its facility to accommodate more staff; growing its manufacturing space and capabilities; dedicating more resources and technology to its product development; increasing its customer and partner training; and, investing in marketing and sales.
Boulder company shares $9 million with employees
And there’s more: As part of a $113 million private-equity investment deal in 2007, FreeWave is sharing $9 million of investors’ money with its fewer than 100 employees as a reward for the company’s success. Shares are divvied up based on individual performance.
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