Stream Energy was established in 2004. It is traded as Stream Gas & Electric Ltd. Rob Snyder, Chris Domhoff, and Mr. Pierre Kokshaji founded the firm. The main business activity is the provision of energy services, such as electricity, clean energy, and natural gas.
The firm also engages in the sale of mobile services, such as mobile devices and data plans. Its protective services arm provides credit-monitoring devices, identity protection among other technology support devices.
The company’s inception rode on the energy deregulation in Texas. This meant that power consumers who were not customers of a power company owned by the municipality could choose any retail provider to serve their needs.
Texas State is one of the largest power consumers in the United States. This resulted in the formation of this company to satisfy the rising demand.
To serve numerous power consumers in the state, Stream Energy devised a plan to be among the cheapest providers of this resource. This plan paid off, and the firm started its expansion program to other states.
It sold electricity in seven states including Georgia and Washington D.C.
Successful companies use a strategy known as multilevel marketing, network marketing or referral marketing. This is where the company sells products through distributors and salespeople.
Unlike an ordinary setting, Stream Energy does not pay these people. Instead, the salespeople earn money from the sale of the company products or by recruiting more distributors into the network. A distributor then earns a commission from the people they have recruited.
The firm also holds meetings where they gather people and market this idea. The aim is to recruit more people into the network. This model paid off, and it continues to earn massive profits for Stream Energy.
The company uses these profits to fund the corporate social responsibility (CSR) arm of the business. CSR is where businesses give back to the community by donating to charity organizations, or by starting charity projects themselves.