Brett Adcock
| Brett Adcock | |
|---|---|
| Born | April 6, 1986 Moweaqua, Illinois |
| 🏫 Education | University of Florida |
| 💼 Occupation | Co-founder of Archer |
| Known for | Co-founder of Vettery, Co-founder of Archer |
| 🌐 Website | www.brettadcock.com |
Brett Adcock (born April 6, 1986) is an American entrepreneur.[1] He is currently the co-founder of Archer Aviation, an electric vertical take-off and landing (eVTOL) company focused on "advancing the benefits of sustainable air mobility."[2] In September 2021, Archer went public via a SPAC on the NYSE.[3] Prior to this Adcock was the co-founder of Vettery, a hiring marketplace that Adcock founded in 2013.[4] In February 2018, Vettery was bought by the Switzerland-based staffing firm Adecco Group for around $100 million.[5]
Early life
Adcock grew up in Moweaqua, IL where he was raised in a "farming family that grew corn and soybeans." Aside from helping out in the fields, Adcock enjoyed 'creating and solving engineering problems,' which, he said led to what he called his life’s focus, 'working on harder engineering problems to make the world a better place to live and I like to work on stuff that gets me excited and inspired everyday to make the future better.'[6]
Career
Early career
After graduating from the University of Florida,[7] Adcock worked in the mergers and acquisitions investment banking team at Bank of America Merrill Lynch.[8] During his time there he advised Wellpoint, Inc. on the $4.675 billion sale of NextRx to Express Scripts, Inc. In 2009, Adcock joined the hedge fund Cedar Hill Capital Partners[9] and founded the recruiting content platform StreetofWalls.com.[10]
Vettery
In 2013, Adcock launched the online talent marketplace Vettery.[11] Vettery was ranked as Crain’s NYC top places to work in both 2016 and 2017 as well as Inc Magazine's 2018 best places to work in NYC.[12]
Vettery started at NYU's Varick Street Incubator[13] and by 2017 had raised $12 million in venture backed funding lead by Greycroft, The Raine Group, and Pritzker Group.[14]
In February 2018, Adecco Group announced it would acquire Vettery for $100 million in cash. Adecco purchased Vettery as a way to "accelerate the development of the Adecco Group’s digital strategy, broadening our offering into the fast-growing digital permanent recruitment market and complementing their professional recruitment businesses."[15]
Archer Aviation
In October 2018, Adcock founded electric aircraft company Archer Aviation an electric vertical take-off and landing (eVTOL) company focused on "advancing the benefits of sustainable air mobility."[16] Archer was originally started with a research grant from Adcock at the University of Florida and today is headquartered in Palo Alto, CA.[17][18]
In February 2021, United Airlines announced it was investing in Archer and making an initial purchase of aircraft worth $1 billion. United, in partnership with regional carrier Mesa Airlines, intends to use the Archer aircraft to "provide urban service to airports within five years."[19]
Archer announced it would go public on February 10, 2021 with investors such as United Airlines, Stellantis, Exor, Baron Capital, Marc Lore, and founders Adcock and Adam Goldstein.[20] Archer went public on September 17, 2021 on the New York Stock Exchange ticker ACHR and completed cash proceeds of $860 million.[21]
According to The Wall Street Journal, "Just as Archer and Atlas completed the merger in September, Archer said it received an early-stage regulatory approval of its aircraft. That unlocked a quarter of the award, a combined $99 million at the SPAC’s closing share price on Sept. 16, the filings show."[22]
In late 2021, Archer completed its first flight.[23]
Personal life
In May 2021, Adcock appeared alongside Ray Lewis, Michael Vick, Jerry Rice, and others on the NFL Network's coverage of the NFL Draft as a part of Rich Eisen's Run Rich Run for St. Jude Children's Research Hospital. The event raised over $1.7M for charity.[24]
References
- ↑ "10 Things You Didn't Know About Brett Adcock".
- ↑ "With Money From Walmart's Marc Lore, Stealth Startup Archer Buys Its Way Into The Electric Air Taxi Race".
- ↑ "Archer Aviation stock to begin trading on NYSE, after merger with SPAC is completed".
- ↑ "Vettery raises $9M as it expands its hiring marketplace to San Francisco".
- ↑ "Adecco Group acquires recruiting startup Vettery for $100M".
- ↑ "Archer Aviation Unveils Electric Vertical Takeoff/Landing Air Taxi".
- ↑ "Archer Aviation Unveils Electric Vertical Takeoff/Landing Air Taxi".
- ↑ "Hedge fund analysts take Uber model to recruiting".
- ↑ "Hedge fund analysts take Uber model to recruiting".
- ↑ "Former Bankers Create A Way Of Getting A Wall Street Job — Even If You Didn't Go To A Top School".
- ↑ "This 25-person startup just raised $9 million using these 9 slides".
- ↑ "Best Workplaces NY".
- ↑ "NYU's Tech Incubators Boost City's Economy, Resiliency".
- ↑ "This 25-person startup just raised $9 million using these 9 slides".
- ↑ "Adecco Group acquires recruiting startup Vettery for $100M".
- ↑ "With Money From Walmart's Marc Lore, Stealth Startup Archer Buys Its Way Into The Electric Air Taxi Race".
- ↑ "UF Warrington alumni taking intracity travel to new heights".
- ↑ "Take Off In A Flying Car with UF Engineers and Alumni".
- ↑ "Archer to go public, United Airlines invests and orders electric aircraft".
- ↑ "Archer Lans 1B Order From United Airlines and a SPAC Deal".
- ↑ "Archer Aviation stock to begin trading on NYSE, after merger with SPAC is completed".
- ↑ "Today's Tech Founders Don't Just Own the Company. They're Also Getting Huge Pay Packages".
- ↑ "Archer Electric VTOL Air Taxi Demo Passes Major Test".
- ↑ "Rich Eisen didn't let combine cancellation stop his 'Run Rich Run' movement".
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