by BlackBerry, a tech biopic by Jay Baruchel and Glenn Howerton, is now streaming on Sky and NOW.
Directed by Matt Johnson and co-written by producer Matthew Miller, the comedy drama follows the journey of BlackBerry, a Canadian technology start-up that turned into a multi-billion dollar industry giant and suffered a spectacular fallout.
Read more: What to watch on Sky and NOW in April 2024
Here’s what you need to know about the real story behind BlackBerry.
The true story of the founders of BlackBerry
Founded in 1984 by Canadian university students, Mike Lazaridis and Douglas Fregin, Research in Motion (RIM) is the company behind the iconic BlackBerry, the parent company of which would be renamed BlackBerry Limited in 2013.
Initially, the company focused on electronics and computer science consulting and was joined by friend and fellow student Michael Barnstijn. In 1986, General Motors awarded RIM a $600,000 contract to create Research in Motion.
Immigrating to Canada with his Greek parents at the age of five, settling in Windsor, Lazaridis loved science as a child and by the age of 12 had won an award for reading every science book in a Public Library Windsor.
How RIM transformed into a technology giant
In the film, Lazaridis is portrayed as socially awkward but highly technological, while Fregin embodies a more eccentric style, often seen with a headband and strange graphic t-shirts.
In 1992, a crucial moment in the history of technology occurs when they meet the assertive businessman Jim Balsillie, who joined the company as co-CEO with Lazaridis, with the main goal of restructuring RIM.
At the time the company was operating from above a bagel shop but Balsillie believed in its potential.
Four years later, in 1996, Edge unveiled the Inter@ctive Pager 900, a two-way pager that can send faxes and emails. The following year when the pager was introduced, Imill became a publicly traded company.
In a significant move they managed to raise a significant $105 million from eager investors who recognized the company’s potential.
The Lazaridis-Balsillie synergy
It was the dynamic partnership between Lazaridis and Balsillie that really set them apart. Lazaridis, with his technical vision, and Balsillie, with his shrewd business acumen, made a great team.
Together, they transformed RIM from a small business with just about 10 employees in 1992 to a global corporation worth more than $68 billion by the end of 2007.
“I’m aggressive. I’m competitive. I’m ambitious. I have that,” Balsillie said of Jay Baruchel’s portrayal of him as a ruthless businessman, Cp24 reported.
Baruchel told Complex Canada: “For every kind of outbreak born from greed, I knew I had to care more about quality. Every time he was yelling, I had to go inward and less. “
BlackBerry success
The BlackBerry was launched in 1999, credited with the meteoric rise of an edge that would eventually redefine the smartphone category.
Jim Balsillie’s marketing prowess was one of the main reasons for BlackBerry’s early success. He left no stone unturned to highlight the utility of the device. At technology conferences, he famously distributed blackberries to early adopters, igniting a buzz.
Balsillie’s strategy spread to Wall Street and Washington, where blackberries found their way into the hands of investment bankers and US politicians, further increasing their demand.
Meanwhile, RIM secured key supply agreements with major players, including BellSouth Wireless, IBM, American Mobile, and Rogers Cantel.
BlackBerry’s promise was to free users from the office, but it essentially made work follow them everywhere. Singer Beyonce slept with her blackberry, and she even dreamed of answering emails.
Blackberry, with its tactile keyboard and trackball, was so addictive that it earned the nickname ‘CrackBerry’ and became Webster’s Dictionary’s New Word of the Year in 2006.
Its sales peaked in August 2007 when it had a share price of $236.
The fall of blackberry
At first, the founders of BlackBerry did not see the launch of the 2007 iPhone as a threat. With a significant market share and a multi-billion dollar valuation, they underestimated its impact.
Ultimately, Apple’s introduction of the keyboard on the screen with the iPhone was a game-changer that blindsided BlackBerry, which left him down.
By 2014, BlackBerry had a net loss of more than 5.8 billion US dollars.
Balsillie’s controversial move to backdated stock options to attract talent prompted an investigation by the Ontario Securities Commission, which distanced Lazaridis from Balsillie, leading to Balsillie’s departure from the board. The company faced penalties but escaped prison time.
BlackBerry and its founders today
As of January 2022, BlackBerry’s flagship smartphone is officially obsolete. Its operating system, software and services were discontinued, marking the end of an era. BlackBerry Limited now focuses on cyber security software and services.
In 2007, Fregin parted ways with BlackBerry before winding down, selling his shares for an estimated $2 billion.
Lazaridis and Balsillie remained with the company until 2012. Despite BlackBerry’s decline, they left with considerable wealth.
Lazaridis joined Fregin and is now the Founder and Managing Partner at Quantum Valley Investments, as well as the Founder at the Institute for Quantum Computing, with an estimated net worth of $600 million.
Balsillie founded the School of International Affairs at the University of Waterloo and founded the Center for International Governance and Innovation (CIGI) think tank. He is also the chairman of the Canadian Council of Innovators, with an estimated net worth of $800 million according to Celebrity Net Worth.
Lazaridis’ famous last words at the 2007 iPhone launch were “we’ll be fine”. Seventeen years later the three people behind BlackBerry are fine.
BlackBerry is now streaming Sky and NOW
