Ryan Vinson, CEO and co-founder of Fort Worth, Texas-based MineralWare, is today’s featured Forty Under 40 honoree.
Vinson’s first experience in oil and gas was as a roughneck on an oil rig at age 17. Out of college, he worked as a landman. Over the years, however, he recognized an unfilled need for a better-organized source for oil, gas and mineral asset management.
At the age of 30, with a newborn at home and a new home under construction, he quit his job to start a mineral management company called MineralWare with two other partners. They boot strapped the company for three years with a $40,000 loan and grew the company with existing cash flow.
A new opportunity arose once Vinson met Larry Brogdon, whose investment and partnership fueled the accelerated growth of the company. Since then, each year MineralWare has doubled or tripled the prior year’s recurring revenue.
“We set a bold goal in 2016 to increase our monthly recurring revenue 10X by 2020,” Vinson said. “We achieved this milestone a year and a half early. Our team’s commitment to our success was the key reason we achieved it earlier than expected.”
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