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Stream Energy
View on WikipediaStream Energy is a subsidiary of NRG Energy and a retail electricity company. It uses multi-level marketing as its primary sales channel. The company sells electric and gas services in seven states and Washington, D.C.[2]
Key Information
History
[edit]
Stream was founded in 2005 by Rob Snyder and Pierre Koshakji.[3][4] Stream has energy services in seven states, including Texas, Pennsylvania, New York, New Jersey, Georgia, Maryland and Illinois, as well as Washington D.C. The company first offered energy services in Texas following the deregulation of the Texas electricity market. The company expanded to Georgia in 2008, followed by the Northeast in 2010. In 2015, Stream also began offering mobile phone service, Stream Wireless.[2]
Stream moved its headquarters from the Infomart building on Stemmons Freeway to the Tollway Center office building on Dallas Parkway in North Dallas in May 2017.[5][6]
Despite an influx of independent contractors (termed "directors") signing up with Ignite, the multi-level marketing arm of Stream, the majority of this sales force "lost nearly all their investments."[7]
NRG
[edit]In 2019, Stream was acquired by NRG for $300 million.[8][9][10]
References
[edit]- ^ Olivia Pulsinelli (20 May 2019). "NRG Energy buys retail electricity and natural gas business for $300M". Bizjournals.com. Houston Business Journal.
- ^ a b "Stream: A New Face". Direct Selling News. 1 January 2015. Archived from the original on 12 November 2016. Retrieved 5 January 2018.
- ^ "Rob Snyder of Stream Energy's". Dallas Business Journal. 20 March 2013. Retrieved 5 January 2018.
- ^ "Meet the CEO: Rob Snyder of Stream Energy". D Magazine. October 2010. Retrieved 5 January 2018.
- ^ "Stream sets up shop in new Addison HQ". Dallas News. 22 May 2017. Retrieved 5 January 2018.
- ^ "Stream to Move Headquarters to Addison's Tollway Center". Addison Magazine. 1 December 2016. Retrieved 5 January 2018.
- ^ M. B. Pell; Margaret Newkirk (6 December 2010). "Selling energy -- and prosperity?". The Atlanta Journal-Constitution. Retrieved 24 April 2014.
- ^ Sixel, L. M. (2019-05-20). "NRG buys competitor as power market consolidates". Houston Chronicle. Retrieved 2023-02-17.
- ^ Rogers, Tim (2019-05-20). "Stream Energy Inks $300 Million Deal to Sell to NRG". D Magazine. Retrieved 2023-02-17.
- ^ Sixel, L. M. (2019-05-20). "NRG buys another power retailer". Chron. Retrieved 2023-03-10.