Business Services Industry
Greater Los Angeles Entrepreneur Of The Year® Program
San Fernando Valley Business Journal, July 9, 2007
Matt realized the power of the Internet and invested heavily in online advertising. By 2004, 80% of the company's business came from popup ads. During this time, Microsoft Internet Explorer announced a popup blocker as part of its browser. Under Matt's direction, LowerMyBills. com quickly shifted its marketing model, successfully transitioning away from pop-ups and continuing to flourish. The company has efficiently managed internal products and systems in such a way as to remain nimble and flexible despite its size. Matt has emphasized business agility, rapid decision making and new product development.
Under Matt's leadership, LowerMyBills.com has grown into a 200-person company that is the largest bill-lowering site on the Internet, enjoying relationships with more than 500 service providers spanning more than 20 categories. The company is one of the top five online financial service advertisers and has helped more than 5 million consumers save money.
Demonstrating an incredible return on investment, from 2000 to 2005 LowerMyBills.com experienced 30,900% growth, making it one of the fastest-growing companies in the United States. In 2005, LowerMyBills. com was sold to Experian for 25 times the amount of venture capital that had been invested in it. Looking forward, Matt plans to focus increased attention on LowerMyBills.com's home loans segment, while broadening the company's reach to realty, auto loans and other categories.
[ILLUSTRATIONS OMITTED]
JAMES MONTGOMERY
MICHAEL MONTGOMERY
Montgomery & Co., LLC
Montgomery & Co. was formed in 1986 by James Montgomery and his father, Richard. The company functioned initially as a provider of strategic advisory services for global media, technology, communications and defense companies. The firm advised global clients such as IBM, Siemens, Boeing, Lockheed and Sprint on growth strategies, new market development and related strategic issues.
In 1994, Montgomery & Co. brought their expertise in high technology to a joint venture that expanded them into investment banking. While maintaining the consulting business, the company then entered merger & acquisition advisory, and established its first private equity partnership in 1996. Two years later, James co-founded Palomar Ventures, and Montgomery & Co remains a General Partner in that company.
Montgomery & Co.'s first major expansion outside its core technology practice was to recruit a health care team and open an office in San Francisco around that team. Within a year-and-a-half the group had established itself as a leader in biotechnology private placements.
In 1999, James' brother Michael joined the firm, bringing expertise in finance and the entertainment industry. Michael led a new media practice that leveraged the firm's position in technology with his contacts in the media world. This new practice became profitable and significantly raised the profile of the bank with the same 18 months. For the past several years, the media and health care practices have contributed over 50% of the revenues of the firm.
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