Trevor Ng
Ping, Inc. (stylized as PING) is an American sports equipment manufacturing company based in Phoenix, Arizona. It is a private, family-owned company that focuses on golf equipment, producing golf clubs, club bags, headwear, gloves, travel gear, and accessories. Ping is not a publicly traded company, and it prioritizes quality and innovation over short-term profits. The company was founded by Karsten Solheim, an engineer at the General Electric company, who started making putters in his garage in 1959.
| Characteristics | Values |
|---|---|
| Publicly traded | No |
| Type of company | Private, family-owned |
| Ownership | The Solheim family |
| Company size | Smaller than competitors like TaylorMade and Titleist |
| Top market | US |
| Other markets | Europe, Asia |
| Number of PGA Tour players using PING equipment | 36 |
| Notable players | Viktor Hovland, Tony Finau |
| Number of wins on the PGA Tour | Over 10 |
| Social media presence | Instagram (over 500,000 followers), Twitter (over 250,000 followers), TikTok (30,000 followers) |
| Revenue | Around $500 million in 2021 |
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What You'll Learn
Ping is a private, family-owned company
Ping, Inc. (stylized as PING) is an American sports equipment manufacturing company based in Phoenix, Arizona. It is a private, family-owned company that is not publicly traded, meaning that you cannot buy stock in the company.
Ping was founded by Karsten Solheim, an engineer at the General Electric company. In 1959, Solheim began making putters in his garage in Redwood City, California, out of frustration with the difficulties of putting with the equipment available at the time. He applied scientific principles to golf club design, which had previously been largely based on trial and error, and invented a new putter known as the "PING 1A". Instead of attaching the shaft at the heel of the blade, he attached it in the centre, transferring much of the weight of the club head to the perimeter.
The name "PING" came from the sound that Solheim heard as the metal struck the ball. By the end of 1960, he had made over 2,000 putters in his garage and had six designs, intentionally muffling the "ping" sound. In 1961, the Solheims moved to Phoenix, Arizona, where the company would find a permanent home. Solheim continued to create his putters single-handedly in his garage after departing General Electric.
Ping has maintained its status as a private, family-owned company since its founding. The company is currently run by the third generation of the Solheim family. As a private company, much of Ping's data is not public, and its growth statistics are not available. However, it is believed that the company has grown in recent years due to the increased popularity of its clubs. The latest Ping revenue data that is publicly available is from 2021, when the company had a revenue of around $500 million.
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The company was founded by Karsten Solheim in 1959
Ping, Inc. (stylized as PING) is an American sports equipment manufacturing company based in Phoenix, Arizona. It was founded by Karsten Solheim in 1959, following a career as an engineer at the General Electric company. Solheim was born in Bergen, Norway, in 1911 and emigrated to the United States with his family in 1913, settling in Seattle, Washington. He trained as a mechanical engineer and worked in the defence industry during World War II.
In 1959, Solheim started making putters in his garage in Redwood City, California, frustrated by the difficulties he faced in putting with the equipment available at the time. He applied scientific principles to golf club design, which had previously been largely based on trial and error, and invented a new putter known as the "PING 1A". Instead of attaching the shaft at the heel of the blade, he attached it in the centre, transferring much of the weight of the club head to the perimeter. By the end of 1960, he had six designs and had made over 2,000 putters in his garage.
In 1961, Solheim moved his family to Phoenix, Arizona, where the company would find a permanent home. He continued to create his putters in his garage after departing General Electric. In the same year, he invented his first set of irons, which he named "69", which he considered to be a good round of golf. He continued to experiment with the effects of good heel-toe weighting in his irons and also milled a cavity into the steel back of the irons for added forgiveness.
In 1966, Solheim sketched a design for a new putter on the dust cover of a 78 RPM record. His wife, Louise, suggested the name "Answer" for the new putter, as it was "an answer to the vexing problems in putting". As the name was too long, it was shortened to "Anser", and without a "w", it could be trademarked. The Anser putter became a huge success, with the first major championship won using a PING putter coming in 1969 at the Masters. In 1967, Solheim resigned from General Electric to focus on developing the PING company, moving his business from his garage to a factory and establishing Karsten Manufacturing Corporation (KMC), makers of the Ping brand of clubs.
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The name Ping came from the sound the club made when striking the ball
Ping, Inc. (stylized as PING) is an American sports equipment manufacturing company based in Phoenix, Arizona. It was founded by Karsten Solheim, an engineer at the General Electric company. In 1959, Solheim started making putters in his garage in Redwood City, California. He noticed that his putters made a “ping” sound when they struck the ball, and this inspired the name of his company.
Solheim's frustration with the equipment available at the time led him to invent a new putter, the "PING 1A", in 1959. Instead of attaching the shaft at the heel of the blade, he attached it in the center. He applied scientific principles to golf club design, which had previously been largely based on trial and error. By transferring much of the weight of the club head to the perimeter, Solheim was able to increase the club's sweet spot, producing better results from off-center hits.
The first PGA Tour victory using a PING club came in 1962 at the Cajun Classic Open Invitational, won by John Barnum. Sales of the PING putters rose steadily after this. The Golf World Cup of 1965 brought even greater sales as many of the top players used the PING putters during the televised event in Japan. In 1966, Solheim designed a new putter, sketching it on the dust cover of a 78 RPM record as he couldn't find a piece of paper. After finalizing the design, Solheim's wife Louise suggested the name "Answer" for the new putter as it "was an answer to the vexing problems in putting". As the name was too long, it was shortened to "Anser", and without a W, it could be trademarked.
In 1967, Solheim resigned from General Electric to focus on developing the PING company, moving his business from his garage to a factory. He established Karsten Manufacturing Corporation (KMC), the makers of the Ping brand of clubs, in Phoenix, Arizona. The patent for the PING Anser putter was granted on March 21, 1967, and the first major championship victory using a PING putter came in 1969 at the Masters. In the same year, Ping introduced irons based on the same principle of perimeter weighting, which quickly became successful and set industry standards.
Ping has continued to innovate in golf technology, launching popular irons such as the Ping Eye 2, G15, G710, i210, and i500. They were the first to offer factory fitting, with a variety of clubheads in different lies and offsets. They also offer a fitting program based on a checklist of the player's physical characteristics, common problems, and distances. Ping manufactures some iron clubheads with a small notch, allowing the clubhead to be bent to the required specification without breaking.
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Ping's top market is the US, followed by Europe and Asia
Ping, Inc. (stylized as PING) is an American sports equipment manufacturing company based in Phoenix, Arizona. It was founded by Karsten Solheim, an engineer at the General Electric company. Frustrated with the equipment available at the time, Solheim began making putters in his garage in 1959. The name "PING" came from the sound that Solheim heard as the metal struck the ball.
Today, Ping is a private company that is family-owned and operated by the third generation of Solheims. It is not publicly traded and, therefore, does not have stock. Ping's revenue data from 2021 shows earnings of around $500 million. The company has a global presence and distributes its products worldwide, with its top markets being the US, followed by Europe and Asia.
Ping's marketing strategy includes engaging with its sponsored golfers and creating inclusive marketing campaigns to appeal to a broad audience. They have a significant social media presence, with over 500,000 followers on Instagram and 250,000 on Twitter. They also sponsor female professional golfers, promote women's golf events, and offer women-specific golf clubs and equipment.
Ping has maintained endorsement deals with many professional golfers, including Tony Finau, Viktor Hovland, Louis Oosthuizen, Sahith Theegala, Bubba Watson, and Lee Westwood. Their products have been used by top players in major championships and have even been featured in gifts during international meetings, such as the 2018 White House meeting between President Donald Trump and Norwegian Prime Minister Erna Solberg.
With their innovative club designs, custom fitting options, and global distribution network, Ping has established itself as a leading golf equipment manufacturer with a diverse customer base worldwide.
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Ping's custom club adoption rate is less than 20%
Ping, Inc. (stylized as PING) is an American sports equipment manufacturing company based in Phoenix, Arizona. It was founded by Karsten Solheim, an engineer at the General Electric company, in 1959. The name "PING" came from the sound that Solheim heard as the metal struck the ball. The company focuses on golf equipment, producing golf clubs and golf bags, and utilizing a range of materials in its club manufacturing, including stainless steel, titanium, carbon fiber, and various alloys.
Despite the quality of their products, Ping's custom club adoption rate is less than 20%. This is likely because most golfers do not tweak their golf equipment, and Ping is a smaller brand than its competitors, such as TaylorMade and Titleist. However, Ping has a strong social media presence and a loyal customer base, with a high average buyer rating of more than 4.5 out of 5. Their customers include many professional golfers, such as Tony Finau, Viktor Hovland, and Louis Oosthuizen.
Ping's relatively low custom club adoption rate can be attributed to various factors. Firstly, most golfers tend to stick with their standard equipment and do not frequently customize their clubs. This may be due to the added cost of customization or the belief that stock options are adequate for their needs. Additionally, Ping is a smaller brand compared to some of its competitors, which may contribute to lower adoption rates.
However, Ping has several strengths that could potentially increase its custom club adoption rate in the future. They have a strong social media presence across platforms like Instagram, Twitter, and TikTok, allowing them to showcase their products and engage with golfers. Their sponsored golfers and tournament endorsements also elevate their brand recognition and credibility. Moreover, Ping's high customer loyalty and satisfaction rates, with over half of their customers being repeat customers, suggest that those who use their products tend to stick with them.
Ping's future plans include continued innovation, improved custom fittings, and the use of advanced technology to enhance club performance. They are committed to industry-leading forgiveness and distance in their clubs, and their skilled club builders are based in Phoenix, Arizona, where their biggest facility is located. With their focus on innovation and commitment to improving the golfing experience, Ping may see an increase in its custom club adoption rate over time.
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Frequently asked questions
No, Ping Golf is not a publicly traded company. It is a private, family-owned company.
Ping Golf is owned by the Solheim family, now in their third generation.
Ping Golf manufactures golf equipment, including golf clubs, bags, headwear, gloves, travel gear, and accessories.
As a private company, Ping Golf can prioritise quality and innovation over short-term profits. This allows them to focus on their craft and make better products, which boosts profitability and builds goodwill with employees and customers.
