LeapFrog Enterprises

LeapFrog Enterprises, Inc.
Public
Traded as NYSE: LF
Industry Educational toys
Founded 1994
Founder
  • Michael Wood
  • Robert Lally
Headquarters Emeryville, California, US
Area served
 Worldwide
Key people
  • John Barbour (CEO)
  • William "Bill" Chiasson (Chairman)
  • Raymond Arthur (CFO)
Number of employees
 579 (2014)
Website leapfrog.com

LeapFrog Enterprises Inc NYSE: LF (commonly known as LeapFrog) is an educational entertainment company based in Emeryville, California. LeapFrog designs, develops, and markets technology-based learning products and related content for the education of children from infancy through grade school. The company was founded by Michael Wood and Robert Lally in 1994. John Barbour is the chief executive officer of LeapFrog.[1]

History

Founding: 1994–1997

The history of LeapFrog traces back to the late 1980s when LeapFrog co-founder Michael Wood, an attorney at Cooley LLP,[2] had difficulties teaching his son how to read.[3] He began researching phonics and marketing while continuing as a partner at Cooley.[3] By 1994, Wood had developed the first prototype of what would become Phonics Desk, LeapFrog's first product.[4] The prototype utilized a Texas Instruments chip that was previously used by one of Wood's clients to develop talking greeting cards.[4] Wood solicited feedback on his prototype from Robert Calfee, an expert on children’s reading development and a professor of education at the Stanford Graduate School of Education.[4]

Wood began manufacturing the Phonics Desk in 1995.[5] That year, Wood resigned as a partner at Cooley LLP and founded LeapFrog Enterprises with Robert Lally.[2] The company received $800,000 in seed funding from friends, family, and former clients of Wood.[2][3] Toys "R" Us became the first major retailer to carry the Phonics Desk shortly before Christmas 1995.[6] Other retailers such as FAO Schwarz and Target later began carrying the toy.[6]

Expansion and acquisition by Knowledge Universe: 1997–2002

LeapFrog had distribution in over 10 countries and a number of major clients in the US by early 1997.[2] In March of that year, the company hired Brad Crawford, who formerly worked for Little Tikes, to oversee sales and manufacturing.[7] Knowledge Universe acquired a majority stake in LeapFrog in October 1997.[8] Knowledge Universe is an education company founded by brothers Lowell and Michael Milken, Larry Ellison, and Tom Kalinske.[6] LeapFrog subsequently merged with Knowledge Universe's Knowledge Kids division.[8] Kalinske, a former executive at Mattel, became LeapFrog chief executive officer as a result of the merger.[9]

LeapFrog acquired Explore Technologies in August 1998.[10] Explore Technologies produced the Odyssey Globe, an interactive globe that could call out the names of countries when users touched the globe with a specially designed stylus.[8] Explore Technologies' stylus technology was later used in LeapFrog's LeapPad, a learning tablet that sounds out words when users drag a stylus across a word in LeapPad books.[11] The LeapPad launched in 1999 and became Leapfrog's flagship product.[11] It was the top selling toy in the US for the years 2001-2002 and books and accessories for the device were the best selling toy in the US in 2003.[11] LeapFrog opened its LeapFrog Schoolhouse division, which markets LeapFrog products directly to schools, in 1999.[2][11]

Going public: 2002–present

A girl with Leapster
A girl with LeapPad

LeapFrog co-founder Michael Wood became the company's chief executive officer in early 2002.[9] In July, LeapFrog went public on the New York Stock Exchange under the ticker symbol LF.[12] Knowledge Universe retained majority control of the company following the initial public offering.[12] Sega Toys and Benesse also began producing LeapFrog toys localized for the Japanese market in 2002.[13] LeapFrog products were sold in more than 25 countries by 2003.[2] Tom Kalinske was appointed LeapFrog chief executive officer following Michael Wood's retirement in February 2004.[9] Kalinske had previously served as LeapFrog's chief executive officer from the company's acquisition by Knowledge Universe in 1997 until early 2002.[9] Wood was retained as the company's chief creative officer.[2] Jeffrey G. Katz replaced Kalinske as LeapFrog chief executive officer in 2006.[2] Katz was previously the founding chairman and chief executive officer of Orbitz and had served on the LeapFrog board for a year prior to becoming the chief executive officer of LeapFrog.[14] Kalinske remained vice chairman of LeapFrog.[14]

LeapFrog discontinued the LeapPad and released its Tag Reading System in June 2008.[15] Tag became LeapFrog's flagship product and was a successor to the 10-year-old LeapPad.[16] The company released its Leapster2 portable learning system and its Didj educational handheld game console in July 2008.[16]

William "Bill" Chiasson replaced Jeffrey Katz as LeapFrog president and chief executive officer in March 2010.[17] Chiasson had most recently served as LeapFrog chief financial officer.[17] Katz was appointed to the newly created position of executive chairman of the board.[17] LeapFrog also released the Leapster Explorer educational handheld game console in 2010.[18] The Leapster Explorer was the successor to the Leapster2, and was targeted toward older children.[18] The console supports online game play as well as learning apps, e-books, and videos.[18] John Barbour was named the chief executive officer of LeapFrog in March 2011.[19] Barbour previously served as an executive for Toys "R" Us and RealNetworks.[19]

LeapFrog released the LeapPad Explorer educational tablet computer in 2011.[20] The LeapPad Explorer was designed for children aged four to nine and contained a five-inch touch screen, camera, microphone, and both downloadable apps and cartridge-based games.[21] In 2012, LeapFrog released its updated LeapPad2 and LeapsterGS.[22][23] The LeapPad Ultra tablet computer and LeapReader were launched in 2013.[24] The LeapReader is an electronic reading and writing and writing system that succeeded the Tag Reading System which only taught reading skills.[24]

The company released LeapBand, its first wearable activity tracker for children, in 2014.[25] LeapFrog also released its LeapPad3 and LeapPad Ultra XDi tablet devices in 2014.[26] In July 2014, the company announced the release of LeapTV.[27] In August 2015, the company announced LeapFrog Epic,[28] its new Android-based tablet for children, which was released in September 2015.[29]

Products

LeapFrog's product portfolio focuses on three main families of products: reading solutions, educational gaming and grade school products and learning toys. Notable products include:

Smartphone applications

Leapfrog also develops educational applications for smartphones. These apps include:

Licensing and partnerships

In addition to producing their own toys, LeapFrog also licenses their characters (the Leapfrog Learning Friends) to third parties:

LeapFrog also has partnerships with various companies:

LeapFrog Learning Friends

The core set of Leapfrog Learning Friends as seen on the Learn to Read at the Storybook Factory DVD.

LeapFrog has developed various characters for use in house, and eventually licensed the characters for use in third party products. These characters are collectively known as the Leapfrog Learning Friends. LeapFrog continues to develop new characters and has expanded character placement across products and content. Characters include Leap, Lily, Tad, Della, Dot, Mr. Frog, Mrs. Frog, Mr. Websley, and Professor Quigley. Most of the characters are discontinued since 2008. The current characters are Leap, Tad, Lily, Cousin Toad (aka CT), Matilda, Burfder, and Quigley.

In addition, LeapFrog has introduced the Scout and Friends animated DVDs featuring Scout the Puppy and his friends Violet the Puppy, Penny the Hamster and Eli the Cat, along with their sentient car Axle. The Scout and Friends series currently has 4 episodes, and they frequently feature other characters to help the friends learn about various concepts.

Awards

In 2003, LeapFrog marketed animated DVDs, Letter Factory & Talking Words Factory, whose purpose is to encourage children to learn to read. More recently, they have expanded the series and there are now 16 different titles available.[49] Similar to Barney & Friends, Kidsongs, Sesame Street and Teletubbies on PBS, LeapFrog is an early educational program designed for children in the 2-10 year old age group.

LeapFrog was awarded the 2011 Toy of the Year Award, Instructor Magazine's 2011 Teacher’s Pick Award 2010, Parent's Best Toys, NAPPA Gold, 2010 Time to Play Award, Golden Apple Award and was placed on The Toy Insider's 2010 Hot 20 and FunFares's 2010 Hot Dozen lists.

Animated DVDs

See also

References

  1. ↑ Lindsay Riddell (July 26, 2013). "John Barbour: CEO, LeapFrog Enterprises Inc". American City Business Journals. Retrieved July 17, 2014.
  2. 1 2 3 4 5 6 7 8 "History of LeapFrog Enterprises, Inc.". International Directory of Company Histories 139. St. James Press. 2013.
  3. 1 2 3 ADAM JANOFSKY (Aug 14, 2013). "How LeapFrog's CEO Built the Educational Toy Company". Wall Street Journal. Retrieved July 17, 2014.
  4. 1 2 3 Mary Ellen Egan (May 28, 2001). "Anything But Child's Play". Forbes. Retrieved July 17, 2014.
  5. ↑ Hoffman, Bryce G. (July 7, 1999). "TAUGHT A LESSON". Contra Costa Times (Emeryville, CA: Contra Costa Times). p. C01.
  6. 1 2 3 Beck, Rachel (March 28, 1998). "LeapFrog toys develops from Mike Wood's desire to teach his son to read". Associated Press Newswires.
  7. ↑ COLLEEN BENSON (March 17, 1997). "PEOPLE IN BUSINESS". Hearst Communications, Inc. Retrieved July 17, 2014.
  8. 1 2 3 Bill Breen (May 31, 2003). "LEAPFROG'S GREAT LEAP FORWARD". FastCompany. Retrieved July 17, 2014.
  9. 1 2 3 4 "Getting Leapfrogged". The Washington Times. April 23, 2004. Retrieved July 17, 2014.
  10. ↑ "LeapFrog's acquisition expands educational toy line". American City Business Journals. Aug 10, 1998. Retrieved July 17, 2014.
  11. 1 2 3 4 Josh McHugh (November 2005). "LeapFrog's Wild Ride". Wired. Retrieved July 17, 2014.
  12. 1 2 Kate Kelly (July 25, 2002). "Milken to Go Ahead With LeapFrog IPO". Wall Street Journal. Retrieved July 17, 2014.
  13. 1 2 Mina Tsukui Yomiuri Shimbun (December 24, 2002). "Digital world draws children to English". Daily Yomiuri.
  14. 1 2 "Leapfrog Names Katz CEO As Kalinske Steps Down". Wall Street Journal. July 5, 2006. Retrieved July 17, 2014.
  15. 1 2 3 4 5 WARREN BUCKLEITNER (June 12, 2008). "With the Stroke of a Pen, a Popular Educational Toy That Helps Children Learn to Read Is Simplified". The New York Times. Retrieved July 17, 2014.
  16. 1 2 "Companies". Warren's Consumer Electronics Daily. June 16, 2008.
  17. 1 2 3 "LEAPFROG ENTERPRISES, INC.". United States Securities and Exchange Commission. February 9, 2010. Retrieved July 17, 2014.
  18. 1 2 3 Keith Stuart (September 6, 2010). "Leapster Explorer: more educational fun for the pre-DS crowd". Guardian News. Retrieved July 17, 2014.
  19. 1 2 3 4 Lauren Pollock (Feb 28, 2011). "LeapFrog Names Former Toys 'R' Us Executive as New CEO". The Wall Street Journal. Retrieved July 17, 2014.
  20. ↑ "Holidays expected to boost toy makers as shoppers will spend on children, despite weak economy". Associated Press Newswires. 22 November 2011.
  21. ↑ CHAD SAPIEHA (November 23, 2011). "Gift Guide: LeapPad's latest tablet sure to be a hit with kids". The Globe and Mail. Retrieved July 17, 2014.
  22. 1 2 3 JOE POLLICINO (June 20, 2012). "LeapFrog LeapPad 2 and Leapster GS Explorer hands-on". AOL Tech. Retrieved July 17, 2014.
  23. 1 2 Simon Jary (June 19, 2012). "New Leapfrog LeapPad 2 kids tablet due August". IDG. Retrieved July 17, 2014.
  24. 1 2 3 4 Lauren Goode (April 30, 2013). "LeapFrog's Latest Gadget for Kids: Magic Pen for Both E-Reading and Writing". Dow Jones and Company. Retrieved July 17, 2014.
  25. 1 2 3 Katherine Rosman (April 30, 2014). "Kid Wearables? LeapFrog Debuts Fitness Tracker for Training Wheels Set". Wall Street Journal. Retrieved July 17, 2014.
  26. 1 2 Simon Crisp (June 26, 2014). "New LeapPad tablets might keep the kids away from your iPad". Gizmag. Retrieved July 17, 2014.
  27. ↑ Tyler Lee (20 July 2014). "LeapFrog’s LeapTV Is A Gaming Console Aimed At Kids". ubergizmo. Retrieved 1 August 2014.
  28. 1 2 "Leapfrog".
  29. ↑ "Tech Times".
  30. ↑ Stuart Dredge (16 July 2014). "LeapFrog's LeapTV aims to be a more educational games console for kids". The Guardian. Retrieved 1 August 2014.
  31. ↑ Scott Stein (15 July 2014). "LeapTV, a tiny game console for little kids, coming this fall for $149 with a bold controller (hands-on)". Cnet. Retrieved 1 August 2014.
  32. 1 2 Doug Gross (May 1, 2014). "Wearable tech for kids coming from LeapFrog". CNN. Retrieved July 17, 2014.
  33. ↑ Anna Andrianova (May 2, 2013). "LeapFrog Tries to Re-Energize Sales With LeapReader". CNBC. Retrieved July 17, 2014.
  34. ↑ Kyle Wagner (June 30, 2011). "LeapPad Explorer: The Tablet Your Kid Can Use as a Frisbee". Gizmodo. Retrieved July 17, 2014.
  35. ↑ WARREN BUCKLEITNER (December 4, 2003). "For Little Fingers, an Array of Digital Tutors". New York Times. Retrieved July 17, 2014.
  36. ↑ John Biggs (January 28, 2009). "System Offers a Chance for the Littlest Reader to Get Ahead of the Pack". New York Times. Retrieved July 17, 2014.
  37. ↑ Peter Hartlaub (April 26, 2011). "San Jose boy supplies voice of LeapFrog dog Scout". Hearst Communications. Retrieved July 17, 2014.
  38. ↑ JORDAN MINOR. "LeapFrog Read With Me Scout and Violet". Ziff Davis. Retrieved July 17, 2014.
  39. ↑ "Read With Me Scout from LeapFrog". aNb Media. Retrieved July 17, 2014.
  40. ↑ STEPHANIE KANG (May 23, 2005). "Bright Spot in Toyland". Wall Street Journal. Retrieved July 17, 2014.
  41. ↑ Pereira, Joe (November 28, 2002). "Toy Companies Learn Education Equals Big Sales --- Once Industry Stepchildren, Products Made to Teach -- And Amuse -- Top Wishlists". The Wall Street Journal Europe.
  42. 1 2 Suzanne Kantra (April 7, 2011). "LeapFrog's first app is A for awesome". Today Tech. Retrieved July 17, 2014.
  43. 1 2 GREGORY SCHMIDT (September 24, 2013). "With New Stylus, LeapFrog Tackles Reading and Writing". New York Times. Retrieved July 17, 2014.
  44. 1 2 MARK WILSON (August 23, 2013). "3 Secrets To Designing Great Toys, From LeapFrog and Ideo". FastCompany. Retrieved July 17, 2014.
  45. ↑ Stuart Dredge (June 13, 2013). "LeapFrog releases Learn to Write with Mr. Pencil app". Apps Playground. Retrieved July 17, 2014.
  46. 1 2 "LeapFrog Readies Wi-Fi Kids Tablet with Proprietary Security". Warren's Consumer Electronics Daily. June 26, 2013.
  47. ↑ "Macromedia and LeapFrog Deliver Rich Interactive Content Through Leapster Multimedia Learning System". November 3, 2003. Retrieved July 17, 2014.
  48. 1 2 Etan Vlessing (November 5, 2012). "Lionsgate Leapfrogs Into New Kids DVD, Digital Content With Educational Toy Maker". The Hollywood Reporter. Retrieved July 17, 2014.
  49. ↑ "Leapfrog DVDs". Retrieved March 8, 2012.

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