Dan Price Biography

Dan Price is the founder and CEO of Gravity Payments, which he started at age 19 to process credit cards.

The company grossed over $150 million last year, processing more than $10 billion in credit card transactions. Today, more than 12,000 community businesses across all 50 states use Gravity Services for its ease of accepting payments. Price’s entertaining story inspires people to accomplish more by helping others. He performed with a touring teen-age rock group playing in front of thousands. As a college student he negotiated from his dorm room to score an agreement with a major auto retailer. The company model has avoided industry jargon that confuses, and fees hidden in fine print. Gravity practices honesty, transparency, and business with integrity.

Price has won the Entrepreneur Magazine national 2014 Entrepreneur of the Year award. In addition to this award, Dan’s leadership and entrepreneurial spirit have earned recognition with the 2014 Seattle Business Executive Excellence Award, as the 2013 GeekWire “Young Entrepreneur of the Year,” and the 2010 SBA “National Young Entrepreneur of the Year.” Forbes, CNBC, Business Week, and Inc., among many business publications, have featured him in articles, and he’s about to appear in The New York Times and on ABC-TV.

Price elected to give his employees a 2% raise in response to the 2013 two-percent payroll tax reduction lapse. The day after the nation’s lawmakers let the tax reduction lapse, Price took action. He decided all Gravity Payments employees earning less than $100,000 — the vast majority — would get a 2 percent pay bump to offset the payroll tax increase.

In April 2015, Price announced that over the next three years, the company would raise the pay of all employees to at least $70,000 per year, saying this was the minimum needed to secure them from financial hardship when hit by unexpected expenses. Price said he would take a cut in his own pay to cover the increased pay for employees.

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