In 2009, Saul Castanon founded LifeProof, two years after the release of the original iPhone. The problem was clear, there was no protection for dropped phones, and Apple was making bank on repairs and replacements. Saul saw that everyone dealt with the issue of being careless and having their phone accidentally slip from their hand or from the surface it was resting on. So, he decided to ensure phone safety by developing a case that would protect the phone from everyday impacts and other damages. In the space of 18 months and after investing $1 million, his product debuted at the 2011 Launch Conference where it won the award for best product and best presentation. The commercial featured the iPhone 4 being dropped on the ground, covered in dirt and mustard and ketchup and then rinsed off in a fish tank and being completely unharmed. In 2013 Otterbox acquired LifeProof.
A new technology had been introduced into the market, the smart phone, and Saul Castanon recognized the opportunity to capitalize on the iPhone. This is another example of entrepreneurship, when new innovation and technology arise, one must be able to recognize and see the possibilities that come with the new markets and Saul Castanon did just that.
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https://en.wikipedia.org/wiki/LifeProof
I never new that the LifeProof started with an individual entrepreneur; I had assumed it was some big company that introduced this case. It goes to show how it is possible for anyone to innovate on concepts that are already out there- like a protective phone case- Saul just took this to another level
I would like to respectfully point out that ‘anyone’ isn’t in the possession of 1 mil $ for spending. I for one would find myself to be very fortunate to have at the least a net worth of 1 mil.
That is really interesting read into the start of such a prolific company. It was mindblowing that he invested 1 million dollars into the start of the company. That was monstrous, especially because it felt like it was such a small enterprise at first. Thank you for sharing!
I totally thought that Lifeproof was this corporate product designed along iphones. It’s so cool to know one guy set out to fix this problem of people breaking phones and spent 1 mission dollars and came out successful. Awesome story, thank you for sharing.