Choose Energy

Choose Energy operates as an online marketplace focused on the deregulated energy sector, empowering residential and business consumers to compare and switch electricity and natural gas providers. Founded in 2008 by Jerry Dyess, the company aimed to simplify the process of selecting an energy supplier in states where consumers have the power to choose. Initially based in San Francisco and later Plano, Texas, the company capitalized on the shift away from traditional, monopolistic utility structures.

The company's business model centers on acting as a free-to-use energy broker for consumers. It provides a platform where customers can enter their ZIP code to view and compare various energy plans from different retail providers, looking at aspects like rates, contract terms, and renewable energy content. Revenue is generated by earning a commission from the energy suppliers when a customer signs up for a plan through the marketplace. This model replaced historical customer acquisition channels in the industry like door-to-door sales and telemarketing. The platform serves both residential households and small businesses, offering tailored comparisons for commercial clients to manage their energy expenditures.

Throughout its history, Choose Energy achieved significant milestones, including raising a total of $25.7 million in funding over several rounds. Key investors included Kleiner Perkins, Stephens, and NGEN Partners. In 2013, the company appointed Kerry Cooper, a seasoned executive with experience at Walmart.com and ModCloth, as its CEO to spearhead expansion. Cooper's background in e-commerce and consumer marketing was instrumental in scaling the online marketplace. That same year, Choose Energy acquired Chicago-based startup Power2Switch, strengthening its market presence. A pivotal moment occurred in June 2017 when the digital media company Red Ventures acquired Choose Energy for an undisclosed amount, integrating it into its portfolio of digital brands.

Keywords: energy marketplace, deregulated energy, electricity comparison, natural gas supplier, switch energy providers, retail energy choice, residential energy, commercial energy, energy brokerage, electricity rates, power to choose, energy plans, fixed-rate energy, green energy plans, utility switching, energy savings, online energy platform, energy supplier comparison, Texas electricity, renewable energy options