: FedEx, which bought Kinko’s in 2004 for $2.4 billion, announced on June 2 that it was changing the name of its stores from FedEx Kinko’s to FedEx Office, which “better describes the wide range of services available” at the stores, the company said…
But [Paul] Orfalea, who founded Kinko’s in 1970, said in a statement on Friday that FedEx’s decision “hit me hard.”
He built Kinko’s from a single shop in Santa Barbara to a national chain with more than 1,000 locations and 25,000 employees. (Orfalea was called “Kinko” because of his frizzy red hair, and named the shop after that sobriquet…
In his mournful comments, Orfalea said that Kinko’s used to be about “shared power, shared profits, and shared knowledge,” but that the Kinko’s he created “has been gone for a very long time.”
Just like Elvis — in more ways than one, he suggests.
Photo by morissette.martin from Flickr
Business Insider Emails & Alerts
Site highlights each day to your inbox.