Information Resources, Inc. (IRI) is the #2 market research company in the world (behind Nielsen), providing UPC scanner data (from 34,000 checkout scanners) and panel-based business solutions to the consumer packaged goods, retail, and healthcare industries. Pretty much everyone that sells stuff at retail depends on their data to tell them what's going on.
In 1977 three guys (John Malec, Gerald Eskin and William Walter) figured that scanner data could be used to gather purchasing info (companies were using consumer diaries, like Nielsen did with TV). Not a single bank would lend them money for the start-up so they turned to their prospective customers. One tough year later they had $2 million in contracts for future services with 11 companies.
John led the company as CEO and was joined by Gian Fulgoni in 1981 as President/COO. They took the company public in 1983 and grew it from less than $10MM to over $500MM in revenue. Gian left in '99 to co-found comScore Networks and track the same kind on data on the Internet. John chose to lead an IRIC spin-off, Videocart, for two years before heading out to start a real estate development fund. He assisted Peapod with their launch and then founded (and currently leads) Tap.tv, a video advertising network for commercial establishments.
Dimensions: 3,600 people x 27 years x $572MM
Funding: Customers, Hambrecht & Quist, Greylock, IPO
Customers: Pretty much every CPG, Retail, Pharma company in the world
Location: Chicago [Downtown] + www.infores.com
