Steve has 40+ years of impressive results in diverse industries including telecom, wireless, Internet, e-commerce, payment processing, GPS, and enterprise software.
He holds a Bachelor’s Degree in Electrical Engineering from Illinois Institute of Technology and has been awarded 23 tech patents.
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TELECONNECT / TELECOM*USA VP Communications Research Led company’s entry into non-traditional long distance calling markets requiring not only product planning but also technology development. First company to compete head-to-head with AT&T in the Operator Assisted Calling market IPO (NYSE:TTT) and ultimately acquired by MCI Communications for $1.2 billion.
LinkUSA Founder and CEO of the first wholesale provider of enhanced telecom services. Raised $7.5mm in debt and equity funding. Received numerous industry awards for excellence and innovation. Business grew to $80mm run rate within 4 years and was acquired by Global Crossing.
EXTRACORP Tapped by an investment banking firm to rescue an insolvent healthcare IT company with no revenue. Raised capital and redefined the company, targeting small healthcare practices and the self-insured market with fully-electronic, HIPAA-compliant claims processing and payment solutions. (First to market.) Ultimately serving over 15,000 healthcare providers. Merged company with another producing an overall 2.6x return for investors.
SYNAMICS, INC. Recruited by venture investors to rescue a webinar company with $9mm invested, facing imminent death due to executive fraud and mismanagement. With no additional investment, cleared up tax, 401k and other major liabilities and refocused company to become a niche market leader. Ultimately returned $4.7 million to the investors.
AXIOM NAVIGATION, INC. / SKYNETIX LLC Brought in to salvage a vehicle telematics company that was virtually bankrupt due to executive fraud. Immediately reduced staff from 128 to 62, lowering annual payroll by $4.5mm. Reduced customer product rejects from 92% to less than 2% in the first 90 days while also stabilizing the company’s finances. Ultimately reorganized the company through foreclosure. Repositioned the company as a licensor of GPS technology for cell phones and vehicle telematics.
US TRAXSIS – GPS tech start-up – the first to deliver working assisted GPS for cell phones. Brought in following 9/11 after the company had burned $5mm in Series A funding with no revenues. Built a new plan and focused on business development. In 3 months, signed 30 Letters of Intent and agreements worth over $2mm. Within 4 months, raised $5mm in VC funding contingent upon merger with Axiom Navigation. 15 patents filed.
Other Startup Activities
MURL.COM – Internet start-up that introduced an unprecedented, browser-independent service merging e-mail, bookmark management, file handling, Web search and group collaboration, and time and information management.
INDEPENDENT NEWS NETWORK – Produced and delivered high-quality television news, weather and sports service for broadcast by local and network television stations that lack local news operations. Structured a private placement with a group of network affiliate stations.
Steve is an active mentor with first-time entrepreneurs in the fervent hope that they will never need to meet with him in a professional capacity.