10 things: Perfect Company CEO Michael Wallace

Wednesday morning's Boardroom Breakfast

Michael Wallace, CEO of Vancouver-based Perfect Company, was the featured guest at Wednesday morning’s September 2016 Boardroom Breakfast, held at the Red Cross Building at Fort Vancouver.

Here are 10 things we learned about Wallace and his smart kitchen products during the discussion:

  1. Wallace began his career in coding and video games, working for The Learning Company in the mid ‘80s. During his time with the company he developed the game Robot Odyssey, which has been called “the most difficult computer game of all time.”
  2. In the late ‘80s, Wallace helped to develop the Power Glove – a controller accessory for the Nintendo Entertainment System.
  3. Wallace still has a passion for video games, and he shared the fact that he has “reached level 26” playing Pokémon Go.
  4. Before his company Pure Imagination LLC started focusing on smart kitchen products under the Perfect Company name, Wallace found success developing toys. Pure Imagination’s most popular toy – Paper Jamz guitars – was one of the best-selling toys at major retailers during the 2010 holiday season.
  5. Wallace came up with the idea for Perfect Drink – a patented smart bartending system that allows anyone to make world-class cocktails at home using a smart digital scale connected to a mobile app – while sitting in a martini bar overseas.
  6. Perfect Company’s big break came after cold-calling Brookstone. After pitching the company’s Perfect Drink concept, Brookstone ordered 50,000 units.
  7. Product users experience a “magic moment” when they realize they can pour something and see their connected app measure it in real time, Wallace explained.
  8. Wallace explained that measuring ingredients by weight instead of volume, as the company’s smart scale does, is the key to guaranteeing consistent results.
  9. Perfect Company doesn’t have to guess when it comes to figuring out how consumers are using its products. The company is able to look at the user data from its app to help inform product development.
  10. Looking ahead, Wallace said Perfect Company hopes to transition from a consumer brand to a platform. Partnering with food service companies represents a “huge opportunity,” he said.

Register for our October Boardroom Breakfast event featuring Banfield Pet Hospital’s CEO by clicking here.

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