Moorestown, NJ – RunSignUp has converted our entity type from a Limited Liability Company to an S Corporation effective January 1, 2018. This conversion is due to the continued success of the company, as outlined in our 2017 Year in Review. This change does not have any impact on our operations or contracts with suppliers and customers, although we will update our contracts to our new company name, which is now RunSignUp, Inc. You can read about the history of the former legal name, Bickel Advisory Services, LLC here.
There are two major motivations for making this transition:
First, it provides a mechanism that allows the company to grant stock options. We have now granted stock options to all employees in the company. This gives credit to the entire team for creating our company, which fits one of our Guiding Principles that employees, owners and customers should all be equals. This builds on our efforts to ensure that customers share in the interests of the company through the RunSignUp Community Grant Program, our partner program and customer representation on our Advisory Board. Over time, employees will be able to exercise their options into shares and receive dividends.
Second, there are major shifts happening in the endurance registration business with consolidation coming over the next several years. The simple fact is that the market is competitive and races need more and more technology to promote their race and provide memorable race day experiences. Robust technology requires a critical mass of revenue and expertise which cannot be spread across the 50-100 registration providers in the market today. Having shares will allow RunSignUp to have more flexibility to acquire companies as smaller vendors look for exit strategies.
“We are excited about this maturation of our company,” said Bob Bickel, RunSignUp’s founder. “Our entire team has worked hard over the past 8 years to become the largest registration provider for races in the US, and they deserve to have the opportunity to share in the ownership of the company.”
RunSignUp is the leading technology provider for races in the US. More than 15,000 races use RunSignUp to manage their events, registering more than 4 million participants each year. Services include RunSignUp for registration, fundraising, and race promotion, RunSignUp Go for RaceDay, RD Go for Timers, RunSignUp Clubs to enable membership management, and RaceJoy for mobile experiences. Customers include leading organizations like the Boilermaker Road Race, Crim Festival of Races, Pittsburgh Three Rivers Marathon, Inc., Fifth Third River Bank Run, Philadelphia Marathon, Komen Race for the Cure Philadelphia, Mercedes Marathon, Kentucky Derby Festival, Silicon Valley Turkey Trot, Leone Timing, KC Running Company, Compuscore Timing, Knoxville Track Club, Pikes Peak Road Runners, Gulf Coast Runners, Columbus Running Company, Playmakers Running Store and many more. Services are free except for processing fees when conducting monetary transactions such as race registration or club membership renewal. RunSignUp is founded by runners for runners, using technical capabilities to bring the power of cloud computing to benefit the running community. For more information, visit RunSignUp.com.
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