Viasat Joins Stand for Small Initiative, Spearheaded by American Express, to Support U.S. Small Businesses during the COVID-19 Pandemic

Rhea-AI Summary

Viasat (NASDAQ: VSAT) has partnered with American Express on the Stand For Small initiative, aiming to assist U.S. small businesses during the COVID-19 pandemic. This program provides access to essential services through a digital platform, helping businesses reduce costs and enhance digital capabilities. Viasat is offering discounted satellite-enabled internet services to new small business customers, supporting 96% of the U.S. population with plans featuring up to 100 Mbps speeds. This initiative also includes grants and prioritizing network resources for business applications.

Positive

• Partnership with American Express enhances brand visibility and support for small businesses.
• Offering discounted satellite internet services to new small business customers expands customer base.
• Coverage reaches 96% of the U.S. population, ensuring significant market penetration.
• Commitment to support small businesses during COVID-19 crisis may improve long-term customer loyalty.

Negative

• Risks associated with satellite operations could affect service delivery and customer satisfaction.
• Dependence on small business market could pose challenges if economic conditions worsen.

CARLSBAD, Calif., Aug. 10, 2020 /PRNewswire/ -- Viasat Inc. (NASDAQ: VSAT), a global communications company, announced today it is proud to partner with American Express and a growing group of companies on the Stand For Small program, an initiative to provide meaningful support to millions of small businesses during the COVID-19 pandemic.

The Stand for Small initiative provides support and access to business-critical services, offers, tools and expertise, among other benefits through a centralized, digital platform. These resources aim to help small businesses during the COVID-19 crisis and their recovery efforts, by helping business owners reduce operating expenses, manage teams remotely, enhance digital capabilities and address other needs.

Through the program, Viasat will provide discounted satellite-enabled business internet services to new U.S. small business customers in need during these challenging times. Currently, Viasat's business internet service covers 96% of the U.S. population, and offers a variety of unlimited and metered data plans with download speeds up to 100 Mbps in select areas. The Company also implemented a number of initiatives to help U.S. small businesses stay connected during the COVID-19 crisis. Programs include offering current small business customers the opportunity to apply for grants to help make their businesses more resilient; making commitments through the FCC's 'Keep Americans Connected' program; and optimizing its satellite communications network when businesses turned to work-from-home environments, by giving priority to real-time business communications applications, network storage and other business-critical online tools.

Cody Catalena, Viasat's vice president and general manager of Global Business Solutions, commented, "We're proud to participate in the Stand for Small effort, joining American Express and other leading companies, to help small businesses endure and adapt during these difficult times. Our goal is to help small businesses thrive in their communities by enabling them to reliably stay online and connected to customers, partners and prospects."

Information on Viasat's participation in the Stand for Small program can be found here.

Information on Stand for Small, including a list of partners, resources and available services can be found here.

About Viasat 
Viasat is a global communications company that believes everyone and everything in the world can be connected. For more than 30 years, Viasat has helped shape how consumers, businesses, governments and militaries around the world communicate. Today, the Company is developing the ultimate global communications network to power high-quality, secure, affordable, fast connections to impact people's lives anywhere they are—on the ground, in the air or at sea. To learn more about Viasat, visit: www.viasat.com, go to Viasat's Corporate Blog, or follow the Company on social media at: Facebook, Instagram, LinkedIn, Twitter or YouTube.

Forward-Looking Statements 
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward looking statements include statements about Viasat's participation and response to the COVID-19 outbreak via the Stand for Small initiative, our small business discount for new satellite-enabled business internet services, and continued offering of prior announced initiatives. Readers are cautioned that actual results could differ materially and adversely from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: risks associated with the operation of the satellite used to supply these services, including the effect of any anomaly, operational failure or degradation in satellite performance; and changes in relationships with, or the financial condition of, key customers or suppliers. In addition, please refer to the risk factors contained in Viasat's SEC filings available at www.sec.gov, including Viasat's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Viasat undertakes no obligation to update or revise any forward-looking statements for any reason.

Copyright © 2020 Viasat, Inc. All rights reserved. Viasat, the Viasat logo and the Viasat signal are registered trademarks of Viasat, Inc. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners.

 

 

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SOURCE Viasat, Inc.

FAQ

What is the Stand For Small initiative by Viasat (VSAT)?

The Stand For Small initiative is a partnership with American Express aimed at supporting U.S. small businesses during the COVID-19 pandemic by providing access to essential services and discounted internet solutions.

How will Viasat (VSAT) support small businesses during COVID-19?

Viasat will offer discounted satellite-enabled internet services to new U.S. small business customers, along with grants and priority network services to help them stay connected.

What internet services does Viasat (VSAT) offer for small businesses?

Viasat provides satellite-enabled internet services with plans covering 96% of the U.S. population, including options with download speeds up to 100 Mbps.

When was Viasat's partnership with American Express announced?

The partnership was announced on August 10, 2020, as part of the Stand For Small initiative.

How does the Stand For Small initiative benefit small businesses?

It offers tools, resources, and expertise to help small businesses manage expenses, enhance digital capabilities, and recover from the COVID-19 crisis.