Riduur Corporation
 | |
| Private Company | |
| Industry | Electronics |
| Founded | March 4, 1992 |
| Founder | William Nieves |
Area served |  Makko Oko |
| Website | riduur.com.mk |
Riduur Corporation, known as Riduur simply, is a privately-owned, state-authorized, electronics manufacturing company in the Empire Of Makko Oko. Riduur was one of the first companies to produce electronic hardware such as CPU's, monitors and televisions. The company was incorporated on March 4th, 1992, one of the earliest companies to be founded within the nation. The company went private in 2017 after shortfalls of the nation's economy were increasing at an ever rapid pace.
Etymology
The name "Riduur" is Makuri for Partner, which means to collaborate or to work on something with somebody else.
History
Before Riduur's Incorporation
Before Riduur was formed, all technology, even before the formation of the Republic Of Makko Oko, had been obtained from overseas, with the tribe unable to get its ground into independence in that regard. The technology produced by the tribe at the time were woefully unstable, broken and poorly built. An individual, named William Nieves, had gone to college at the age of 17 in 1986 at the esteemed Etheinia College Of Engineering on a partial-ride scholarship, having close to 50% of his tuition covered.
By the time he was 20, he had learned a lot from living and working in Etheinia, so much so that he felt he had the capability to design and manufacture well-built, stable electronics.
Partnership & Unofficial Founding
William, being only 20 years old, knew that he couldn't launch a company by himself, as he had no degrees or knowledge in that field, so he enlisted the help of Etheinia Manufacturing Inc.'s own Founder, still alive at the time, Liam Haugseth. Liam had been interested in the expansion, and so Etheinian Manufacturing had entered into a partnership agreement with William, accepting a 30% share of the company and being a silent partner, helping to run the backend operations of the business such as accounting.
The agreement, according to historical records, was signed on September 1st, 1990, which some consider to be Riduur's official establishment date. The name Riduur was chosen by both Liam and William as a catchy name for their partnership, and to forever signal what sparked it.
Official Incorporation & Expansion
The business had been under the planning phases for quite some time, but before the first factory officially came online and employees were hired, both of them knew the company had to be legitimized. So, on March 4th, 1993, the incorporation of Riduur Corporation was filed and made legal. After the incorporation, the first factory, known as "R10", had begun operation. It didn't cause nearly as much pollution as some other types of factories did, which pleased the new government.
By 1994, the company had begun production on the first-ever dial-up modems in the nation, in cooperation with a deal made by the Makko Okoan Government. By 1996, the company had begun production on integrated DVD television sets, a first for the nation. Profits in 1996 exceeded $2.5M SLO's, the highest profits ever reported by a company at the time. In early 1997, Riduur had to expand to a second factory, nicknamed "R25", seemingly being named after the profits the company reported in 1996. That factory opened in late 1997 in record time, on August 17th, 1997.
Publicization & Hostile Takeover Attempt
In the year 2000, the company had seen massive success and William had wanted to stop leading the company, merely aiming to be in a founder and engineer position. William's goal to doing so was making the company public, which Liam had agreed with, with the company going public on the Jorian Stock Exchange (JSE) as RIDUURCORP (RDUUR shortened) on January 1st, 2001, with 1 million initial shares in the company's IPO.
William had been buying himself shares slowly over time, so as to not spend too much over time. This led to Etheinia Manufacturing Inc. (EMI) attempting a hostile takeover of the company, betraying William. Within the period of 6 months after the company went public, the company bought over 23% of the available shares. William had noticed this, as did the securities agency, which both filed suit in court to halt their shares and reverse the purchases, which was approved in a permanent injunction preventing EMI from being involved in Riduur in any way, shape or form.
William still stepped down, officially changing their position and becoming the Executive Chairman and Lead Engineer of Riduur Corporation on February 27th, 2002, with Jason Wesner, a family friend and finance major at college, taking on his former CEO position.
Economy Downfall & Conversion Into Private Entity
With the economy on a downturn throughout the years leading up to the war, many companies income went down, with Riduur being included in that. In 2013, Riduur experienced a $3.5B deficit, and Jason Wesner held a vote to privatize the company, potentially earning the company over 3 trillion Slotto's. The voting results were published on July 17th, 2013 with over 85% of voters agreeing to it. On January 1st, 2014, the company officially became private, and everybody's shares were sold back to Riduur Corporation.
After The War & Jason's Exit
After the war had ended, Riduur had begun to restore some of their destroyed/damaged manufacturing plants, with some of them even being abandoned all together. In the beginning of 2020, Riduur laid off over 90% of their contract workers, including outsourced employees. Jason was seen as highly unpopular by the move, and by mid-2020, Jason had announced their official departure from the company to "reevaluate the landscape of manufacturing" and to "pursue other opportunities". Jason reportedly attempted to join a competing company after the fact in a foreign nation, but Riduur threatened to sue due to a non-compete clause in his employment and termination agreements and he backed down.
By the end of 2021, over 700 plants across the nation had been abandoned, with only 5% of them being converted or torn down in replacement of other operations by other companies.
Company Brands & Products
Current brands & products:
- Riduur Empress Series (Tablet Devices)
