Jeff Wellemeyer
Encyclopedia
Jeff Wellemeyer is an American entrepreneur
, computer scientist
and software developer
. He is best known for creating the cloud based communications technologies for delivering IP PBX services, developing the first high-speed wireless Internet technology and developing the first computer systems to process financial Automated Clearing House
transactions on the Internet. Currently he is the President and Chairman of the Smoothstone IP Communications Corporation based in Louisville, Kentucky
which he co-founded in 2000.
. He has one brother, former Major League Baseball Pitcher Todd Wellemeyer
.
Wellemeyer incorporated his first company at age 15. At age 17 as a senior in high school Wellemeyer developed the first solid state voice mail system for the home; releasing it to the public at the 1991 International Consumer Electronics Show in Las Vegas. The system was sold through NuTone intercom dealers nationwide as an enhancer to the dimishing home intercom business. It is unclear what became of this business.
Later in 2004 Wellemeyer partnered with Casino Moguel Richard Schilling, Jr to start (Schilling/Wellemeyer Gaming) SW Gaming, LLC. dba. Harlows Casino and Resort, a $70 Million casino and resort property located in Greenville, Mississippi
.
On September 13, 2010 SW Gaming dba Harlows Casino and Resort was sold to Churchill Downs
for $131 Million.
.
VirtualPAY sold the technology to National Processing Company (NYSE:NAP) in 1994.
In 2008 ViperLink was sold to Paul Allen backed Darwin Networks for an undisclosed amount.
Televance raised a small amount of angel capital and subsequently secured a $7 million investment from MK Capital
in 2005 prior to changing the company name to Smoothstone IP Communications Corporation. Smoothstone grew rapidly and today, according to Frost and Sullivan is the largest cloud based communications provider in the US. Smoothstone provides services to enterprise companies in over 4000 cities domestically and 14 countries worldwide.
On April 20, 2011 Smoothstone was sold to the $2.5 Billion, Omaha, Nebraska
based West Corporation
for $120 Million.
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
, computer scientist
Computer scientist
A computer scientist is a scientist who has acquired knowledge of computer science, the study of the theoretical foundations of information and computation and their application in computer systems....
and software developer
Software developer
A software developer is a person concerned with facets of the software development process. Their work includes researching, designing, developing, and testing software. A software developer may take part in design, computer programming, or software project management...
. He is best known for creating the cloud based communications technologies for delivering IP PBX services, developing the first high-speed wireless Internet technology and developing the first computer systems to process financial Automated Clearing House
Automated Clearing House
Automated Clearing House is an electronic network for financial transactions in the United States. ACH processes large volumes of credit and debit transactions in batches. ACH credit transfers include direct deposit payroll and vendor payments. ACH direct debit transfers include consumer payments...
transactions on the Internet. Currently he is the President and Chairman of the Smoothstone IP Communications Corporation based in Louisville, Kentucky
Louisville, Kentucky
Louisville is the largest city in the U.S. state of Kentucky, and the county seat of Jefferson County. Since 2003, the city's borders have been coterminous with those of the county because of a city-county merger. The city's population at the 2010 census was 741,096...
which he co-founded in 2000.
Personal Life & Early Years
Wellemeyer was born in Louisville, KentuckyLouisville, Kentucky
Louisville is the largest city in the U.S. state of Kentucky, and the county seat of Jefferson County. Since 2003, the city's borders have been coterminous with those of the county because of a city-county merger. The city's population at the 2010 census was 741,096...
. He has one brother, former Major League Baseball Pitcher Todd Wellemeyer
Todd Wellemeyer
Todd Allen Wellemeyer is a former right-handed pitcher in Major League Baseball. He is the brother of American entrepreneur Jeff Wellemeyer...
.
Wellemeyer incorporated his first company at age 15. At age 17 as a senior in high school Wellemeyer developed the first solid state voice mail system for the home; releasing it to the public at the 1991 International Consumer Electronics Show in Las Vegas. The system was sold through NuTone intercom dealers nationwide as an enhancer to the dimishing home intercom business. It is unclear what became of this business.
Casino Business
In 1992 Wellemeyer created a chip counting technology using a laser in the bottom of a multi-demonination casino chip tray. This technology using a set of low powered optical lasers worked similar to a barcode reader allowing the casino to track winning in real-time by knowing the value of the chips at an individual table. Although there were some product trials the technology never gained wide market acceptance.Later in 2004 Wellemeyer partnered with Casino Moguel Richard Schilling, Jr to start (Schilling/Wellemeyer Gaming) SW Gaming, LLC. dba. Harlows Casino and Resort, a $70 Million casino and resort property located in Greenville, Mississippi
Greenville, Mississippi
Greenville is a city in Washington County, Mississippi, United States. The population was 48,633 at the 2000 census, but according to the 2009 census bureau estimates, it has since declined to 42,764, making it the eighth-largest city in the state. It is the county seat of Washington...
.
On September 13, 2010 SW Gaming dba Harlows Casino and Resort was sold to Churchill Downs
Churchill Downs
Churchill Downs, located in Central Avenue in south Louisville, Kentucky, United States, is a Thoroughbred racetrack most famous for hosting the Kentucky Derby annually. It officially opened in 1875, and held the first Kentucky Derby and the first Kentucky Oaks in the same year. Churchill Downs...
for $131 Million.
Virtual PAY
In 1994, Wellemeyer developed the first Internet electronic lockbox where consumers could pay their bills electronically over the Internet using an ACH transfer from their checking account. This system provided the first Internet payment capabilities for customers of Mobil Oil, First USA VISA, and SunocoSunoco
Sunoco Inc. is an American petroleum and petrochemical manufacturer headquartered in Philadelphia, Pennsylvania, United States, formerly known as Sun Company Inc. and Sun Oil Co. ....
.
VirtualPAY sold the technology to National Processing Company (NYSE:NAP) in 1994.
ViperLink
In 1995 Wellemeyer created the first multi-point high-speed Internet access technology deployed in the United States. According to Roberta Wiggins, director of wireless mobile communications at the Yankee Group, "no one in the industry had combined the high bandwidth available through ViperLink with wireless technology". ViperLink was credited as the catalyst that created the multipoint wireless delivery technology used in most modern wireless broadband networks and was the first to market with wireless bandwidths that exceeded 256kbit/s, delivering reliable 1Mbit/s and above transport in a reliable cost effective model.In 2008 ViperLink was sold to Paul Allen backed Darwin Networks for an undisclosed amount.
Smoothstone
In 2000 Wellemeyer co-founded Televance Communications, with Shelly Godfrey and Paul Borgman. Teledvance was the first network delivered, hosted IP PBX service for business in the United States.Televance raised a small amount of angel capital and subsequently secured a $7 million investment from MK Capital
MK Capital
MK Capital is a $150 million venture capital fund headquartered in Chicago.On May 5, 2008, MK Capital announced it had completed the acquisition of Kontiki from VeriSign....
in 2005 prior to changing the company name to Smoothstone IP Communications Corporation. Smoothstone grew rapidly and today, according to Frost and Sullivan is the largest cloud based communications provider in the US. Smoothstone provides services to enterprise companies in over 4000 cities domestically and 14 countries worldwide.
On April 20, 2011 Smoothstone was sold to the $2.5 Billion, Omaha, Nebraska
Omaha, Nebraska
Omaha is the largest city in the state of Nebraska, United States, and is the county seat of Douglas County. It is located in the Midwestern United States on the Missouri River, about 20 miles north of the mouth of the Platte River...
based West Corporation
West Corporation
West Corporation is an American company that is a provider of outsourced services, including customer relationship management services, conference call services, privatized 911 service, automated business telephone systems , systems integration, help desks, business-to-business sales, responses...
for $120 Million.