User:Hyperext/sandbox

Tibber AS is a privately financed smart home and energy supplier based out of Førde, Norway. The company is a challenger in the Norwegian, Swedish and German energy markets and are active in the fields of electricity supply and smart home automation. Tibber is known for its simple and transparent price model where a fixed monthly fee provide its customers access to wholesale electricity pricing from local, renewable sources as well as access to the its smart home ecosystem. In early 2019, Tibber made big news world wide when it was the subject of a large capital investment by well-known venture capitalist firm Founders Fund. It's third ever investment in Europe after Spotify and DeepMind. Both founders are still active in the company with Edgeir Vårdal Aksnes operating as the company's CEO and Daniel Lindén assuming the role of Chief Product Officer. Both are presently active members of the Tibber board of directors and shareholders.

As of January 2020, the company has energy operations in Norway and Sweden with plans to make them available in Germany during 2020 followed by additional countries.

Inception
Both employed in the energy utilities sector, founders to be Daniel Lindén and Edgeir Vårdal Aksnes originally met in 2013. Direct competitors at the time, Daniel and Edgeir faced off bidding for the same project. Years later, the two found themselves working at the same company and after a series of events decided to leave to pursue their own venture in 2015. With their combined experience from the energy sector, the duo teamed up and founded the company based on a common belief that the energy utilities market was not operating in the best interest for its customers, nor for the environment.

Founded in February 2016, Tibber AS first launched its energy operations in Norway in February 2017 with Sweden following later that same year.

Finding product/market fit
Having spent many years working with energy utilities, the founding team understood the inherent challenges these companies faced. As long as their business model was based on buying electricity from suppliers and passing that onto the consumer with a markup, they would continue to be incentivized to get its consumers to use more energy instead of less. Subsequently, Tibber was founded on the belief that by aligning the company's mission of reducing the world energy dependence with that of its customers, both parties would be better off. Founded on a business model of reselling renewable energy at wholesale prices to its customers for a fixed monthly fee, Tibber quickly moved into developing functionality to help its customer base reduce its energy utilization further by investments in areas such as real-time smart meters and optimizations in heat control and EV charging. The latter also lead to a partnership with Norwegian EV charging company Easee.

Especially popular among technical users, the product later extended to support smart home hubs and open APIs for developer access.

The launch of Tibber Store
After having spent the initial time focusing on building its AI-based trading technology and apps for IOS and Android (operating system) to visualize and control power consumption, the company slowly realized that they needed to take a wider approach to the otherwise fragmented smart home market in order to simplify the onboarding process for its customers. Tibber Store was officially launched in 2018 carrying both third party products as well as the companies in-house developed products, such as the Tibber Pulse and now represents a significant part of the companies turnover.

International Expansion
In March 2019, Tibber announced it was entering the German market. Previously, the company have also indicated expansion plans into some US states, Finland, Denmark, the Netherlands, Belgium, the UK, Singapore, and others.

Financials
Tibber initially bootstrapped its operations up until its first capital injection by Petter Stordalen's Strawberry group in February of 2017. Since then, the company has received numerous capital injections by both the Strawberry group, venture capitalist firm Wellstreet, Norwegian research fund RFF Vest, Norwegian energy supplier BKK as well as well-known Silicon Valley venture capitalist firm Founders Fund. Tibber has gone through a rapid growth cycle since its February 2017 launch, the company announced its first 10'000 users in November 2017 only 6 months after its launch. In March 2019, the company announced 40'000 paying subscribers with a growth rate of 15% per month ..

Up until 2019, investments in Tibber is estimated at a total $16.5 Million, at a currently undisclosed valuation.

Category:Energy Category:Smart devices