Monoprice
{{Short description|American online retailer}}
{{Use mdy dates|date=September 2020}}
{{Infobox company
| name = Monoprice, Inc.
| logo = Monoprice logo black.svg
| foundation = {{Start date and age|2002}}
| location_city = Rancho Cucamonga, California
| location_country = United States
| num_employees = 150
| industry = Consumer Electronics
| products = Cables, Adapters, HDMI Cable, Professional Audio, Computer Accessories, Home Theater
| parent = YFC-BonEagle Electric Co., Ltd.
| homepage = [http://www.monoprice.com/ www.monoprice.com]
}}
Monoprice is an American online retailer that sells generic-branded consumer electronics under its namesake private label, as well as name brand consumer electronics and outdoor equipment. The company is based in Rancho Cucamonga, California.
The office and shipping operations are run out of a 173,000 square-foot warehouse. As of 2013, Monoprice is a $120 million-a-year business.{{cite web|last=Herrman|first=John|title=How Monoprice Is Eating The Tech World From The Inside Out|url=https://www.buzzfeed.com/jwherrman/how-monoprice-is-eating-the-tech-world-from-the-in|work=February 4th, 2013|date=February 4, 2013 |publisher=BUZZ FEED|accessdate=December 19, 2013}}
History
Monoprice was founded in 2002 by Jong Lee.{{Cite web |url=http://www.inc.com/ss/2009-inc-500-top-10-asian-run-companies#8 |title=Jong Lee and Seok Hong, Co-founders, Monoprice, No. 197 |access-date=February 15, 2013 |archive-url=https://web.archive.org/web/20130218010707/http://www.inc.com/ss/2009-inc-500-top-10-asian-run-companies#8 |archive-date=February 18, 2013 |url-status=dead }}
On February 5, 2013, Monoprice released new products at the Consumer Electronics Show in Las Vegas, including an IPS panel monitor and a small portable video camera called the MHD Action Camera.{{cite web|last=Knight|first=Shawn|title=Monoprice: From underground following to legitimate electronics brand|url=http://www.techspot.com/news/51550-monoprice-from-underground-following-to-legitimate-electronics-brand.html|work=February 5th, 2013|date=February 5, 2013 |publisher=Tech Spot, Technology News and Analysis|accessdate=February 6, 2014}}
In March 2013, Monoprice was sued by Klipsch, an American loudspeaker company, for patent infringement for the latter's Energy Take Classic 5.1 system. Monoprice had to withdraw its 5.1 Hi-Fi Home Theater Satellite Speakers & Subwoofer system.{{cite web|last=Greene|first=Jay|title=Hit by patent suit, Monoprice apparently pulls top-rated speakers|url=http://news.cnet.com/8301-13578_3-57583717-38/hit-by-patent-suit-monoprice-apparently-pulls-top-rated-speakers/|work=May 9th, 2013|publisher=CNET.com|accessdate=December 23, 2013}}
On July 7, 2013, Monoprice started selling its own brand of proprietary guitars.{{cite web|last=Voight|first=Billy|title=Review: $89.28 California Classic Series Guitar from Monoprice.com|url=http://www.guitarworld.com/review-8928-california-classic-series-guitar-monopricecom|publisher=Guitar World Magazine|accessdate=December 19, 2013}}
On August 22, 2013, Blucora acquired Monoprice for $180 million in an all-cash deal.{{cite web |url=http://www.heraldonline.com/2013/08/22/5140154/blucora-completes-acquisition.html |title=BELLEVUE, Wash.: Blucora Completes Acquisition of Monoprice | Business Wire | Rock Hill Herald Online |accessdate=August 24, 2013 |url-status=dead |archiveurl=https://archive.today/20130824234725/http://www.heraldonline.com/2013/08/22/5140154/blucora-completes-acquisition.html |archivedate=August 24, 2013 }}
On August 27, 2013, Monoprice joined the Electronic Entertainment Expo (E3), with PC gaming products including gaming mice, mechanical keyboards, PC speakers, and 7.1 surround sound headsets.{{cite journal|last=Evangelho|first=Jason|title=Monoprice's Stealthy Transition Into PC Gaming Peripherals Is Worth Paying Attention To|website=Forbes.com|date=August 27, 2013|series=Tech|url=https://www.forbes.com/sites/jasonevangelho/2013/08/27/monoprices-stealthy-transition-into-pc-gaming-peripherals-is-worth-paying-attention-to/|accessdate=February 6, 2014}}
On January 23, 2014, Monoprice returned to the NAMM Show with new professional audio products, including guitars, bass guitars, DJ products, speakers, and stage lighting products.{{cite journal|last=WIre|title=Monoprice Showcases New Pro Audio Series Products at NAMM|journal=Sound and Picture Magazine|date=January 23, 2014|url=http://soundandpicture.com/2014/01/monoprice-showcases-new-pro-audio-series-products-at-namm/|accessdate=January 31, 2014}}
On June 25, 2014, Monoprice's parent company, Blucora, Inc. announced the appointment of Bernard W. Luthi as President of its Monoprice subsidiary. As President, Mr. Luthi was to oversee the operations of the Monoprice e-commerce business. Luthi previously served as COO and CMO of Rakuten.com and Buy.com and SVP of Marketing, Merchandising and Web Management for Newegg.com {{cite web |url=http://www.marketwatch.com/story/blucora-announces-appointment-of-bernard-w-luthi-as-president-of-monoprice-2014-06-25 |title=Blucora Announces Appointment of Bernard W. Luthi as President of Monoprice (Press release) |website=MarketWatch |date=June 25, 2014 |accessdate=October 26, 2019}}
On November 18, 2016, Monoprice and YFC-BonEagle Electric Co., Ltd. (YFC), a Taiwan-based provider of power cord sets and networking peripherals, announced that YFC acquired Monoprice in a cash transaction valued at $40 million.{{cite press release |url=https://globenewswire.com/news-release/2016/11/18/891316/0/en/Monoprice-Acquisition-by-YFC-BonEagle-Electric-Co-Ltd-to-Fuel-Growth-and-Strengthen-Asia-Sourcing-Capabilities.html |title=Monoprice Acquisition by YFC-BonEagle Electric Co., Ltd. to Fuel Growth and Strengthen Asia Sourcing Capabilities (Press release) |website=GlobeNewswire |date=November 18, 2016 |language=en |accessdate=October 26, 2019}}
In 2019, The Mediahq named the Monoprice Voxel as the Best Intermediate 3D printer for 2019.{{Cite web|url=https://www.tomsguide.com/us/best-3d-printers,review-2236.html|title=Best Home 3D Printers 2019 - Reviews for Beginners and Enthusiasts|date=October 21, 2019|website=The Mediahq|language=en-US|access-date=October 22, 2019}}
References
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