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Corporation
rei.com

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Investments

3

Partners & Customers

10

About REI

REI is a specialty outdoor retailer, headquartered near Seattle offering carrying gear, apparel & footwear for a wide range of outdoor & fitness activities.

REI Headquarter Location

Sumner, Washington, 98352,

United States

800-426-4840

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Latest REI News

REI Tech Exec Shares Trail Guide As Boards Wander In Digital Wilderness

Mar 29, 2022

REI Founded in 1938 by twenty-three outdoorsy friends, Recreational Equipment, Inc. (REI) now serves more than 20 million members with over $3 billion in sales across nearly 200 U.S. stores. REI has even grander ambition for the next decade. Long focused on retailing, the co-op now also offers travel services, training courses and virtual fittings. Notably, REI estimates that over 70 percent of profits are still directed to member dividends, employee bonuses and funding nonprofits. REI’s 2030 strategic goals include significant membership growth, broader service offerings and increased philanthropy. With IT vital to those aims, Chris Putur, REI’s EVP of Technology and Operations, draws heavily on public company board experience to accelerate technology’s role in the co-op’s strategy execution. Leadership lessons Prior to joining REI in 2017, Putur held CIO positions at Coach and Staples. Since 2014, Putur also concurrently serves on NASDAQ-listed, global technology research and advisory firm Information Services Group’s (ISG) board of directors. Putur attributes honing leadership communication to her board service. “My service gave me a much better appreciation of how important it is to provide context for key discussions with board members,” she emphasized. “Boardroom conversations must take place in the language of the business and center on business objectives, key results and outcomes rather than technology details.” MORE FOR YOU Additionally, Putur heralded how much other senior leaders’ perspectives, experiences and styles can offer, noting, “Every interaction at the board level is an opportunity to gain insights from a diverse set of experienced leaders and to incorporate those learnings into one’s thinking and actions. These interactions can help technology leaders expand their perspective and leadership influence.” That’s paid off in managing the co-op’s rapid transformation over the past few years. “During my time at REI, the role of technology has changed significantly. When I first arrived, the co-op was project-focused and incredibly siloed,” she shared. “We worked instead to create a core set of capabilities to enable an integrated customer experience across digital, retail and new business models.” REI Putur also spotlighted cross-functional collaboration as key to serving members’ needs, “We’ve taken cues from innovative technology companies and top customer-service organizations. With our chief technology officer and customer experience officer leading the way, we are becoming a data-driven, product-led enterprise in service of our members and mission. As our model evolves, technology is increasingly integral to developing and deploying strategy.” Mutual benefit In return, IT leaders like Putur can bring valued tech knowledge to board debate and decisions. “There is tremendous synergy between a technology leader’s role in the c-suite, interactions with their organization’s board and service on external boards,” she explained. “This is especially true on ISG’s board where I am able to bring a CIO’s perspective to their strategic deliberations, while also taking away a broader perspective on business trends that are impacting clients.” However, while these reciprocal benefits hold high appeal, Putur argues that IT leaders must be both qualified and well prepared to warrant coveted board seats. “Technology leaders looking to elevate their role in enterprise strategy need to show up as business leaders first — focused on the enterprise mission, associated strategies, target outcomes and required actions. They need to speak the same language as the rest of the executive team, whether it’s expressed in customer experience, employee engagement, social impact or financial metrics,” she added. “CIOs bring a unique perspective to executive teams. I’d advise them to use it. Shape the direction of the core business by demonstrating how technology can expedite strategies through new offerings, customer experiences and scaling operations.” That’s difference making that will capture any board’s attention. Gear up Putur offers three valuable tips to rising executives seeking board posts. First, she suggests “talking with their executive leadership team and existing board members as a good place to start.” Candidates need to credibly assess their board qualifications, as well as their employer’s openness to such a secondary time commitment. Additionally, independent directors can provide external views which can help set reasonable search, workload and outcome expectations. Selecting new board members requires thorough vetting and careful judgment. Applicants must evidence how their skills and experience match board needs. Putur advised a holistic view, noting, “technology leaders can help boards understand the critical success factors, potential benefits and risks associated with business transformations. A CIO/CTO can help bridge technology-centered conversations in the boardroom with members with other primary expertise.” Second, Putur advises interested executives devise ways to close resume gaps, noting, “there are a variety of executive education programs that can accelerate one's learning journey.” For instance, Putur attended Stanford University’s Directors’ Consortium, an intensive one week on-campus program led by business and law faculty and specifically designed to prepare current and prospective directors for common and emerging strategic, governance and compliance issues. Last, Putur enthusiastically reminds candidates to spark conversations with external professional colleagues and peers. “I’d also encourage aspiring board members to discuss those interests within their trusted networks. You never know when an opportunity will present itself,” she said. That circle may know of pending openings, provide introductions, share experiences and eventually serve as credible references. Trailblazer As Chris Putur’s hours inside boardrooms help forge REI’s digital future, they also fulfill the co-op’s longstanding mission to promote enjoyment of the great outdoors. Above all, she carved a smart career path for fellow IT leaders — who’s following? Follow me on  Twitter  or  LinkedIn . Check out my  website .

REI Investments

3 Investments

REI has made 3 investments. Their latest investment was in The Brown Ascenders as part of their Grant on August 8, 2020.

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REI Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/24/2020

Grant

The Brown Ascenders

$0.01M

Yes

1

8/24/2020

Grant

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$99M

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10

8/24/2020

Grant

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$99M

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10

Date

8/24/2020

8/24/2020

8/24/2020

Round

Grant

Grant

Grant

Company

The Brown Ascenders

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Amount

$0.01M

$99M

$99M

New?

Yes

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Co-Investors

Sources

1

10

10

REI Acquisitions

1 Acquisition

REI acquired 1 company. Their latest acquisition was Arizona Outback Adventures on February 26, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

2/26/2019

$99M

Acquired

1

Date

2/26/2019

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acquired

Sources

1

REI Partners & Customers

10 Partners and customers

REI has 10 strategic partners and customers. REI recently partnered with Marmot on October 10, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

10/21/2021

Partner

United States

09:59 ET Short Film "What's in A Name" Addresses Discrimination and Racism in American Climbing Culture and Route Names

ROHNERT PARK , Calif. , Oct. 21 , 2021 / PRNewswire / -- Marmot , in partnership with REI Co-op Studios and Bedrock Film Works , releases `` What 's In A Name , '' a short film directed by Jules Jimreivat , chronicling the spirit and triumph of muscling through the challenge of route development in a sport whose practices have created barriers to access , safety , and belonging among underrepresented groups .

1

10/7/2021

Partner

United States

Family Forest Owners Empowered to Address Climate Change With New Partnership Between REI Co-op, the American Forest Foundation and The Nature Conservancy

This partnership with REI and American Forest Foundation. will allow us to continue removing the barriers smaller landowners often face , including carbon market access , lack of forest management expertise , and costs . ''

1

10/5/2021

Vendor

REI, AFF, and TNC Announce Partnership to Empower Family Forest Owners in Addressing Climate Change

The partnership will support the Family Forest Carbon Program , a joint forest carbon project of the American Forest Foundation. , a national conservation non-profit that specializes in family-owned forestland , and The Nature Conservancy , a global conservation organization .

1

9/7/2021

Partner

United States

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10

8/3/2021

Partner

United States

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10

Date

10/21/2021

10/7/2021

10/5/2021

9/7/2021

8/3/2021

Type

Partner

Partner

Vendor

Partner

Partner

Business Partner

Country

United States

United States

United States

United States

News Snippet

09:59 ET Short Film "What's in A Name" Addresses Discrimination and Racism in American Climbing Culture and Route Names

ROHNERT PARK , Calif. , Oct. 21 , 2021 / PRNewswire / -- Marmot , in partnership with REI Co-op Studios and Bedrock Film Works , releases `` What 's In A Name , '' a short film directed by Jules Jimreivat , chronicling the spirit and triumph of muscling through the challenge of route development in a sport whose practices have created barriers to access , safety , and belonging among underrepresented groups .

Family Forest Owners Empowered to Address Climate Change With New Partnership Between REI Co-op, the American Forest Foundation and The Nature Conservancy

This partnership with REI and American Forest Foundation. will allow us to continue removing the barriers smaller landowners often face , including carbon market access , lack of forest management expertise , and costs . ''

REI, AFF, and TNC Announce Partnership to Empower Family Forest Owners in Addressing Climate Change

The partnership will support the Family Forest Carbon Program , a joint forest carbon project of the American Forest Foundation. , a national conservation non-profit that specializes in family-owned forestland , and The Nature Conservancy , a global conservation organization .

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Sources

1

1

1

10

10

REI Team

8 Team Members

REI has 8 team members, including current President, Joseph Steck.

Name

Work History

Title

Status

Joseph Steck

President

Current

Ben Steele

Executive Vice President, Senior Vice President

Current

Lee Fromson

Chief Financial Officer, Senior Vice President

Former

Tracie W

Chief Financial Officer, Senior Vice President

Former

Rebecca Straka

Chief Information Officer

Former

Name

Joseph Steck

Ben Steele

Lee Fromson

Tracie W

Rebecca Straka

Work History

Title

President

Executive Vice President, Senior Vice President

Chief Financial Officer, Senior Vice President

Chief Financial Officer, Senior Vice President

Chief Information Officer

Status

Current

Current

Former

Former

Former

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