washington february 2004 2004 02 headquarters ballard seattle washington united states key people dan price co founder and ceo products credit card processing number of employees 100 200 website www.gravitypayments.com gravity payments is a credit card processing and financial services company . the company was founded in february 2004 by brothers lucas and dan price . the company is headquartered in the ballard neighborhood of seattle washington and employs over 100 people . the company received media attention in 2015 when ceo dan price announced that all employees would receive a minimum wage of 70 000 . 1 history edit gravity payments was co founded in february 2004 by lucas and dan price . 2 by june 2008 the company was the largest credit card processor in washington serving over 15 000 clients country wide . 2 in 2013 dan price increased pay for all employees earning less than 100 000 by 2 % as a response to the lapse of the middle class tax relief and job creation act of 2012 . 3 the company also provides unlimited paid time off to employees . 4 in april 2015 dan price announced that over the next three years the company would raise the pay of all employees to at least 70 000 per year stating this was the minimum needed to secure them from financial hardship when hit by unexpected expenses . price who previously paid himself a 1 million yearly salary cut his own salary down to 70 000 to partially cover the increased pay for employees . 1 5 the change lost the company two long standing employees due to the flat payment structure . 5 6 in october 2015 dan price was sued by his brother and co founder lucas price over claims that dan received excessive compensation and that he had been working against lucas interests . dan prevailed in the case on july 8th 2016 and was awarded attorney s fees and other expenses incurred from the lawsuit . 7 references edit a b one company s new minimum wage 70 000 a year . ny times . 2015 04 13 . retrieved 2015 01 21 . a b burton lynsi june 22 2008 . credit him with business savvy . seattle post intelligencer . grunbaum rani january 5 2013 . seattle company gives 2 % raises to make up for pay tax . seattle times . volastro anthony february 17 2004 . unlimited paid vacation too good to be true . cnbc . a b cohen patrica 2015 07 31 . a company copes with backlash against the raise that roared . the new york times . retrieved 2015 08 20 . millward david 2015 08 02 . ceo counting cost of 45 000 minimum wage decision . the daily telegraph . retrieved 2015 08 20 . bishop todd 2016 07 08 . dan price the 70k ceo prevails in lawsuit filed by his brother and gravity payments co owner . geekwire . retrieved 2016 07 21 . retrieved from https en.wikipedia.org w index.php title gravity payments & oldid 739970248 categories credit cardsmerchant servicescompanies based in seattlecompanies established in 20042004 establishments in washington state navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages italiano edit links this page was last modified on 18 september 2016 at 07 33 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view