CDW Corporation

Categories

Technology  

#732

Rank

$25.12B

MarketCap US

US United States

Country

Summary

CDW is a provider of IT solutions for business, government, education, and healthcare. It features dedicated account managers who help customers choose the right technology products and services to meet their needs. The company’s solution architects offer expertise in designing customized solutions, while its advanced technology engineers assist customers with the implementation and long-term management of those solutions. 

Headquartered in Vernon Hills, Illinois, With a balanced portfolio of 250,000 small-, medium- and large-sized customers, CDW generated net sales of $10.1 billion in 2012, and employs more than 6,800 coworkers in 25 locations across the U.S. and Canada. 

Founded in 1984 by entrepreneur Michael Krasny, CDW pioneered the business model that melds personalized business-to-business technology distribution with advanced technology services. Today, CDW is ranked No. 31 on Forbes’ list of America’s Largest Private Companies and No. 267 on the FORTUNE 500 list of America’s top companies.


History

1984: Frustrated and in need of cash, he decided to sell his computer system. CDW was originally incorporated as "MPK Computing" by its founder Michael Krasny.

1985: Published his first national advertisement in PC World magazine. Krasny found that he was selling many computer systems to a single buyer, a Chicago entrepreneur who simply resold them by mail at markups of about $300 per machine.

1989: Krasny soon started to buy and sell wholesale and publish a mail-order catalogue; he opened a retail showroom in Chicago.

1991: CDW's gains displayed the value of the company's formula for success.

1992: That simple strategy generated sales of $176 million and $271 million, about $6.3 million and $13.55 million, respectively, of which was netted as income.

1993: The company became CDW, when it started to sell stock to the public. Krasny took the company public after changing the name from Computer Discount Warehouse to CDW Computer Centers. CDW completed its first IPO, being listed on the NASDAQ market. Berbee was founded that year by James G. Berbee and grew to over 300 million USD in revenue and more than 800 employees.

1994: CDW posted an impressive 52 percent gain in revenue (to $413 million), and enjoyed record operating profits of $23 million. CDW begins selling IBM products.

1995: CDW was marketing 20,000 items through its catalogues, had a 250-member sales force, and boasted a database of nearly one million customers and prospects. To the surprise of many analysts, CDW maintained rampant growth throughout the whole year. CDW broadened its marketing effort with the establishment of an "outbound" telemarketing department to contact and sell to prospects. CDW.com was launched.

1996: That effort, combined with the 30-plus million catalogues it shipped out every year, was expected to boost sales. CDW also planned to launch an Internet marketing program.

1997: The company was also dealt a minor blow in November 1997, when Compaq Computers announced its intention to begin marketing its products directly to consumers.

1998: In addition to redesigning its logo and its website, CDW launched a television and print ad campaign targeted at small and mid-size businesses in October. Although training such a large workforce put a temporary strain on the company's profits, CDW's revenues did not miss a beat, with sales increasing 43 percent in the third quarter.

1999: In November, CDW installed a 500-member sales team in a new office in downtown Chicago.

2000: The company had plans in place to create an additional 500 positions, with the aim of having a total sales force of 1,100. According to Forbes, it is considered one of the Top 2000 Largest Public Companies in the World.

2001: As overall Internet sales declined, and the company's competitors fought for market share, CDW saw its customer base increase by 15 percent.

2002: Although sales figures did dip slightly during this period, CDW's continued emphasis on direct sales, bolstered by a sales team that exceeded 1,200, put the company in a position to emerge from the economic slump with its profit margins intact.

2003: It was CDW's second major acquisition after purchasing Micro Warehouse in September.

2005: CDW launched BizTech magazine, which it publishes on a quarterly basis.

2006: In October, Berbee accepted a $175 million all-cash acquisition offer from CDW. It became a division of CDW and is now known as CDW Advanced Technology Services. CDW opened a 513,000-square-foot (47,700 m) distribution centre in North Las Vegas, Nevada.

2007: CDW went private, being purchased by the private equity firms Madison Dearborn Partners and Providence Equity Partners.

2009: The Berbee Voice-Over IP software product group, the creator of the InformaCast family of IP notification solutions, was spun off to form the new company Singlewire Software in April.

2011: CDW Canada was recognized by the Great Place to Work Institute as one of the best workplaces in Canada, ranked 25th in the category of large and multinational companies.

2013: The company went public again through an initial public offering on the NASDAQ market under the name CDW Corporation.

2015: The company announced that it had acquired the remaining 65 percent of Kelway Ltd., a London-based multinational business with a significant presence in the IT sector.

2017: The vision and strategic direction of CDW's leadership team led to net sales of more than $14 billion in the trailing 12 months ending March 31.

2018: CDW ranked 189th on the Fortune 500 list of the largest United States corporations by revenue.

2019: Acquired Canadian solutions provider Scalar Decisions and Aptris.

2020: Annual Net Sales: $18 billion Fortune 500 Industry (2020): Information Technology Services

2021: For the trailing twelve months ended March 31, the company generated Net sales of approximately $19 billion.


Mission

To help our customers achieve their goals by providing them with the technology advice and products they need, when they need them.


Vision

To be the leading IT solutions and services provider in the markets we serve.


Key Team

Barry K. Allen (Board Member)

Aletha C. Noonan (Senior Vice President, Product & Partner Management)

Benjamin D. Chereskin (Board Member)

Alys Reynders Scott (Chief Marketing Officer)

Daniel Goldin (Board Member)

Andrew J. Eccles (Senior Vice President)

David W. Nelms (Independent Chairman)

Anne B. Ireland (Vice President)

Donna F. Zarcone (Retired President and Chief Executive Officer)

Anthony R. Foxx (Board Member)

James A. Bell (Board Member)

Barry K. Allen (Board Member)

Joseph R. Swedish (Retired Chairman, President and Chief Executive Officer)

Ben Bourbon (Vice President)

Glenn Creamer (Board Member)

Michael Krasny (Founder)

Christine A. Leahy (President & Chief Executive Officer)

Anthony R. Foxx (Board Member)


Recognition and Awards
Fortune 500

References
CDW Corporation
Leadership team

Michael Krasny (Founder)

Alan B. Weiss (Vice President)

Industries

Technology

Products/ Services
Desktops, servers, laptops, peripherals, software, telephony products, power, storage
Number of Employees
1,000 - 20,000
Headquarters
Vernon Hills, Illinois, United States
Established
1984
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0001402057
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
CDW
Social Media

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Mon Feb 26 2024
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