— Sunningdalers CEO Chris Pappas said the company has more than 1,000 employees and has a $2 billion cash pile, and it expects to start hiring again this year.
“We had to cut back on our hiring a little bit to help balance our balance sheet,” Pappa said.
Sunningdales tech news article Sunnerdale, Arizona-based Sunningdaes CEO Chris Pyper said the business is in the midst of an effort to focus on growth and create a diversified portfolio of products that will serve the community.
“Our goal is to be in the forefront of the next wave of innovation,” Pyper told investors during a conference call Tuesday.
“It’s important to know we’re a diversification company.
We’re going to focus our resources on new things.”
Sunningdale started selling solar energy back in 2013 and in the last six months, the company announced that it has expanded its solar energy business from $50 million to $80 million.
Sunnerdalers’ first solar panel is now installed in the town of Woodland, and Sunnerdales has been able to raise $12 million in venture capital funding.
Pyper hopes to get Sunningard to a $100 million investment round in 2019.
Pappas, who grew up in the Phoenix area, said he has been in the tech industry for 30 years and is a former Google executive.
He said the solar industry is changing.
“The growth of the solar energy sector is changing the way we think about energy in our society,” he said.
“There’s a lot of innovation happening in the solar and other industries.”
Papps said Sunnerdaes has seen some “disruptions” in the marketplace in the past few years.
“A lot of the times, when a new product comes out, it’s not as good as what it’s supposed to be,” he explained.
“But we have a long-term vision of how we’re going and the technology is going to make sure we’re able to do it.”
Pyper said Sunning dalys goal is not to be a one-size-fits-all company.
“I believe in the company’s ability to evolve and grow,” he added.
“As the market changes, we will have to be prepared for that.
We have a great team.
We are going to be able to be innovative.”