Jay Stamper
| Jay Stamper | |
|---|---|
 |
|
| Personal details | |
| Born |
June 14, 1972 Spokane, Washington, U.S. |
| Political party | Democratic |
| Alma mater | Connecticut College |
| Religion | Roman Catholicism |
Jeremy "Jay" Stamper (born June 14, 1972) is an American entrepreneur, nonprofit leader and politician from South Carolina. Stamper first gained national media attention for pranks targeting incumbent politicians and has since founded several internet companies, including The Delaware Company, Progressive Homesellers and PersonRatings.com. In February 2013, he announced his candidacy for the Democratic nomination for the 2014 United States Senate election in South Carolina.
Stamper attended public, private and parochial schools in the Seattle area and later earned his undergraduate degree in Government from Connecticut College. Stamper is the grandson of Malcolm T. Stamper, the Boeing Company President best known for leading 50,000 people in the race to build the 747.
Stamper began his entrepreneurial career in 2002 when he founded The Delaware Company, a business filing company that specialized in Delaware incorporation. He served as CEO until 2006, when he sold the company to the Dutch multinational Wolters Kluwer for an undisclosed sum.
In 2005, Stamper founded Progressive Homesellers. The company connected sellers with agents at brokerages who agreed to sell properties for a flat fee for people who, according to Stamper "don't need someone to baby-sit them through the process of selling a home." Progressive Homesellers was so controversial within the real estate community that it was asked to stop operating by the state Department of Licensing. Progressive Homesellers was deemed by the Department of Licensing to be "procuring prospects" for real estate agents. Under Washington law, people making the initial contact with potential clients, whether through cold calling or direct mailing, have to be licensed. Stamper's promise to cut real estate commissions in half coincided with the federal anti-trust case against the National Association of Realtors.
In November 2011, Stamper's Delaware holding company, IPIC Group Ltd. made a tender offer to buy as many as 500 million Bank of America shares at $6 per share. If consummated, the offer would have been worth $3 billion and made IPIC the largest Bank of America shareholder with about 4.9% of all shares.
Bank of America recommended that its shareholders not accept the offer, even though it was made at a premium to the stock's market price.
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