Founder Stories: William Wang of VIZIO
From surviving a deadly plane crash to changing how the entire world watches television.
Treat the people around you well — if you want to be good in business, you've got to be lucky, and trust and great relationships are the foundation of luck.
William Wang
William was born in Taiwan and his family immigrated to Hawaii when he was 12. Two years later they moved to California where he would eventually attend USC and graduate with a degree in electrical engineering in 1986.
His first job was in customer service for a computer monitor company when they were bulky, beige cubes with monochrome green or amber on black screens. Four years later he started his own computer monitor company. It grew to be successful, making him a millionaire at the age of 28, but went under due to changes in the market.
In 2000, Wang was in Taiwan to meet with investors for another monitor maker. He was on Singapore Airlines Flight 006 flying back to Los Angeles, when just after takeoff, the Boeing 747 crashed into a construction site and ripped into two, killing 83 of the 179 passengers and 4 crew members.
“I am beyond grateful to be here today,” said Wang. “Finally getting home after the accident was one of the best moments of my life. I remember thinking how much I loved being home, and from this thought, VIZIO was born.”
His vision was to develop a mass-market HDTV without a $10,000 price tag. "I saw this great opportunity by making a great high-definition display people want to buy, and I knew I could make affordable," Wang said, "not just for the millionaires who live in Beverly Hills."
"I had a house that was was all I had at the time, and I took a second mortgage that let me borrow $430,000," he said. With the new debt, a $50,000 VC investment, and about $100,000 from other sources, Wang started VIZIO in 2002.
VIZIO started as a contractor to lead the design, manufacturing and distribution for Gateway Computer’s new television line for commission. "We basically left the commission we made in the company and that's how we built out the company for the first two years. So we've been profitable since day one," he said.
VIZIO started with a high-definition, 42-inch plasma flat screen, but also created a rear-projection big screen. They made 2,000 models, but all of them came back from retailers. But the flat screen was a hit.
Costco was a huge key to the success of VIZIO. Wang had developed a relationship with Costco when he was at Princeton Graphics (monitor company), and the buyer liked their products. VIZIO started selling exclusively through Costco and Sam’s Clubs. VIZIO was able to pass on lower margins to Costco consumers because they didn’t have conflicts with other retailers (who could add as much as 30% to the price) and consumers became more accustomed to buying TVs at warehouse stores. This strategy allowed VIZIO to grab market share quickly. It eventually expanded to include Wal-Mart Stores, Sears, Kmart and Circuit City after building their brand reputation as a high quality low cost television.
Wang focused on engineering for both price and quality which became his competitive advantage. VIZIO focused on packing as much technology into their televisions as they could at a lower price point. This would lead to VIZIO launching the industry’s first smart TV in 2010 with Netflix, Hulu and YouTube. Eventually it would launch its SmartCast interface, that basically turned your television into a smartphone with the ability to provide customized programming and ad experiences.
By 2010, VIZIO was generating almost $3 billion a year in television sales. While TV prices continue to drop, VIZIO has generated revenue from its higher margin streaming platform. It also launchd a new line of soundbars which became the number one selling soundbar brand in America by 2016.
In 2015, VIZIO file to go public, but withdrew after agreeing to an acquisition by a Chinese company LeEco for $2 billion fell apart. In 2021, VIZIO went public on the New York Stock Exchange under the ticker symbol “VZIO”. It’s peak market cap was $5.2 billion in May 2021.
Today, VIZIO is the only major TV OEM that is still an American company. And while televisions have gone from HD to 4K to 8K, the streaming smart TV platforms that William Wang and VIZIO created are here to stay.
William Wang changed the way the world watches television by letting people cut the cord. SmartCast has access to over 150 premium streaming services today and smart TVs are now the center of many homes.
In February of 2024, Walmart acquired VIZIO for $2.3 billion in cash.
In October, National Academy of Television Arts & Sciences (NATAS) honored William Wang with Lifetime Achievement Honors at the 75th Technology & Engineering Emmy Awards.
