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Tutor Perini Corporation, founded as Perini Corporation in 1894 and headquartered in Sylmar, California, is not a typical construction story. The company operates as a diversified general contractor across three segments—Civil, Building, and Specialty Contractors—focusing on complex, high-value megaprojects that most competitors avoid. This positioning creates a natural barrier to entry: only a handful of contractors possess the bonding capacity, technical expertise, and risk management...

LCI Industries, founded in 1956 as Drew Industries and headquartered in Elkhart, Indiana, has evolved from a regional supplier into the dominant engineered components provider for the outdoor recreation and transportation markets. The company operates through two distinct segments: the OEM Segment (77% of nine-month 2025 sales) manufactures highly engineered components for original equipment manufacturers across RVs, boats, buses, trailers, trucks, and manufactured homes, while the Aftermarket...

Amazon.com, Inc., founded in 1994 and headquartered in Seattle, Washington, has evolved from an online bookseller into a dual-moat conglomerate that makes money through two fundamentally different but synergistic engines: a global retail and logistics network serving hundreds of millions of consumers, and Amazon Web Services (AWS), the cloud infrastructure backbone powering the AI revolution. The company generates revenue through three segments—North America retail, International retail, and...

Microsoft Corporation, founded in 1975 and headquartered in Redmond, Washington, has completed one of the most remarkable corporate transformations in technology history. What began as a personal computer software company has evolved into the world's second-largest cloud provider and, more importantly, the dominant platform for enterprise AI deployment. This matters because Microsoft's business model has shifted from selling perpetual licenses to operating a multi-sided platform where cloud...

17 Education Technology Group, founded in 2012 and headquartered in Beijing, operates at the intersection of China's education digital transformation and its stringent regulatory oversight. The 2021 crackdown on for-profit tutoring forced a existential business model overhaul, pushing the company away from consumer-facing services toward school-based SaaS solutions. This wasn't a strategic choice but a survival imperative that fundamentally altered its revenue DNA.

Hello Group Inc., founded in 2011 and headquartered in Beijing, began as Momo Inc., a pioneer in location-based social discovery in China. The company's 2021 rebranding signaled a deeper strategic evolution beyond its namesake app toward a diversified portfolio of social and entertainment services. Today, Hello Group operates through three distinct segments: the mature Momo app serving as a cash-generating social platform, the dating-focused Tantan, and a rapidly expanding overseas business...

Chewy, founded in 2010 and headquartered in Plantation, Florida, began as a pure-play e-commerce disruptor aiming to replicate the personalized service of neighborhood pet stores at national scale. The company established its foundation through three core pillars: an obsessive focus on customer service, competitive pricing on a wide selection of 100,000+ products, and the Autoship subscription program that now represents 83.9% of net sales. This wasn't merely a convenience feature—it was the...

VersaBank, originally incorporated in 1979 as Pacific & Western Bank of Canada and headquartered in London, Ontario, has spent the past decade perfecting a branchless digital banking model that turns traditional lending economics on its head. Unlike conventional banks that originate loans and absorb credit losses, VersaBank purchases streams of future payments from point-of-sale lenders through its Receivable Purchase Program (RPP), a model that has facilitated over CAD 9 billion in financings...