TECHdotMN: News about Minnesota Startups

Via News Release

“…To deliver on this commitment, Best Buy is launching a new program that will build state-of-the-art Best Buy Teen Tech Centers in communities throughout the U.S. These tech centers will provide a creative and safe learning environment where teens can explore their own ideas and passions, develop their skills and build confidence through the use of technology. By partnering with the Intel Computer Clubhouse Network to execute this program. Best Buy’s investment will include the build out of the center, technology and funding for one year of center staff.

In 2012, Best Buy will support the launch of three Best Buy Teen Tech Centers in Chicago, Miami, and Minneapolis.”

Read More… |Relevant @ 5:40

By Thomas Lee, Star Tribune

“Hanging on the wall of the Best Buy store in Edina across from Southdale Center are three identical-looking signs that read: “Thank You for Making This Store the Best,” a distinction the company bestowed upon the store for performing well in 2009.

What a difference three years makes. The Richfield-based retailer said this week the store, along with four others in the Twin Cities and a total of 50 nationwide, will soon close its doors.”

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By Mark Reilly, Minneapolis-St.Paul Business Journal

“Best Buy Co. Inc. , facing pressure to transform its business in a shifting retail market, will close 50 big-box stores and step up plans for its new “connected store” concept.

The company also will cut 400 jobs in corporate and support areas.”

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Via News Release

“RICHFIELD, MINN., March 27, 2012 - Geek Squad, Best Buy’s 24-hour tech support task force, announced today that it will now offer services and technology support to small businesses (SMBs).

Through the Geek Squad Partner Program, Geek Squad will work with third-party sellers to provide services for their own customers, including Geek Squad Office Support which features Geek Squad Agents available for unlimited 24/7 support via phone, online chat, remote, and, with an option to include on-site support.”

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Relevant

By John Paczkowski, All ThingsD

“Apple’s move to make Best Buy an outlet for the iPhone back in 2008 is proving a wise one — lucrative, too.

Over the past few years, the retail chain has become an increasingly important outlet for Apple, extending its reach and distribution via its 1,100 stores. About 600 of them host an Apple Store-within-a-store, most of those in geographic locations that Cupertino feels are too small to support a dedicated Apple store.”

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By Rick Moss, Forbes

“How is Best Buy like Starbucks? Aside from a big overlap in their target demographic, there may be more points of difference than similarity. But there is one thing they will soon share — the influence of Stephen Gillett.

Late last week, the multinational consumer electronics chain with over $50 billion in annual revenue announced the hiring of Mr. Gillett, who most recently oversaw Starbucks’ “Digital Ventures”, to head Bestbuy.com and the retailer’s other digital efforts.”

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By Tom Webb, Pioneer Press

“If analysts at Piper Jaffray are right, Apple is aiming to revolutionize the TV industry – and in an aggressive way that could bruise its biggest retail partner, Best Buy.

Tech analysts Gene Munster and Andrew Murphy expect that this fall, Apple will announce a cool-looking glass sheet that’s an Internet-connected TV set. This all-in-one device, they think, is designed to replace cable boxes, video players, gaming systems and a thicket of remote controls.”

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Via News Release

“MINNEAPOLIS – March 9, 2012 – Best Buy Co., Inc. (NYSE: BBY) today announced that Stephen Gillett has been named executive vice president and president, Best Buy Digital and Global Business Services, reporting to company CEO Brian J. Dunn, effective March 14, 2012.

“I am delighted that Stephen is joining Best Buy and look forward to having him as a member of our team as we seek to improve returns and accelerate growth opportunities,” said CEO Dunn.”

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By Robert Stephens,

“I never really told anyone, but 10 years was always the outside number. It’s as simple as this: After founding The Geek Squad 18 years ago, and acquiring Best Buy 10 years ago, I’m ready to build new companies. I never thought I would or could last this long. Hell, nobody did.

I later learned that after the merger was announced, friends and advisors of mine bet each other how long before I quit or got kicked out. Most founders seem to leave within a year or so. I can say that motivated me to prove them wrong.”

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The official Best Buy press release

Via News Release

“MINNEAPOLIS, Jan.16, 2012 – Best Buy Co., Inc. (NYSE: BBY), today announced leadership changes to accelerate its strategy by aligning the company’s senior operating talent with its highest priorities.

“To make the most of the profitable opportunities we see both domestically and internationally, we are establishing dedicated responsibility with two of our senior executive leaders, Shari Ballard [named President, Best Buy International] and Mike Vitelli [named President, Best Buy U.S.],” said Brian J. Dunn, Best Buy CEO.”

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