It's been twelve weeks. 3 months. And what have I learned?
Well, I have re-learned that I love small companies. There is something very appealing about a group of people all coming together to accomplish something none of them could do alone. And being on the same page is so, so much easier when the number of employees is small. Clarity of mission - much easier. Clarity of plans - much easier. Changing course - much easier. Having fun - much easier.
I have also learned that I can more easily share leadership than I thought I could. I have really enjoyed working closely with the two co-founders, especially with Jim Waltrip the CEO to help him articulate and implement his vision for the business...rather than simply impose my own.
I am having a blast.
Tuesday, September 16, 2008
Friday, July 4, 2008
It's a new gig for Bill
After kissing a lot of frogs and not finding a princess (see below), my search has concluded.
This week I joined All Web Leads, one of the most successful online lead generation providers to the US insurance industry. AWL's team uses Internet marketing to turn consumer interest in insurance products into policy sales for most of the largest insurance carriers (and their agents) in the world. This company has grown revenues more than 100% annually over the three years, a remarkable track record for a young company. It is also a tight-knit team with a fast paced, energetic, and entrepreneurial company culture. Oh, did I mention the company is VERY profitable and is based right here in good, ole' Austin.
The two founders, Jim Waltrip and Ryan Patterson, are extremely bright and driven entrepreneurs who know how to build a business from the ground up. I am excited to be working with them to take AWL to the next level. My role is the company’s Chief Operating Officer or COO.
Stay tuned for more about this next journey of mine. I am pumped!
My new work email is bill.daniel@allwebleads.com. Check out our website for insurance agents at www.allwebleads.com and one of our main consumer sites at www.usinsuranceonline.com.
This week I joined All Web Leads, one of the most successful online lead generation providers to the US insurance industry. AWL's team uses Internet marketing to turn consumer interest in insurance products into policy sales for most of the largest insurance carriers (and their agents) in the world. This company has grown revenues more than 100% annually over the three years, a remarkable track record for a young company. It is also a tight-knit team with a fast paced, energetic, and entrepreneurial company culture. Oh, did I mention the company is VERY profitable and is based right here in good, ole' Austin.
The two founders, Jim Waltrip and Ryan Patterson, are extremely bright and driven entrepreneurs who know how to build a business from the ground up. I am excited to be working with them to take AWL to the next level. My role is the company’s Chief Operating Officer or COO.
Stay tuned for more about this next journey of mine. I am pumped!
My new work email is bill.daniel@allwebleads.com. Check out our website for insurance agents at www.allwebleads.com and one of our main consumer sites at www.usinsuranceonline.com.
Thursday, June 19, 2008
30 years is not that long...Dartmouth does that to you.
I just returned from my 30th college reunion. That means it was 30 years ago this month that I graduated from college. My alma mater, Dartmouth, is located in beautiful Hanover, New Hampshire, right on the Vermont border. Reunions are held for our class - the class of 1978 - very five years so this is the sixth time since we all graduated that we gathered in Hanover to...well, read on.
Laurel and I began our time at this reunion on Weds. 6/11 by spending the night in the Ravine Lodge at Mt. Moosilauke.
This lodge was built by members of the Dartmouth Outing Club, a club at Dartmouth focused on hiking, camping, canoeing, kayaking, etc. It has been around forever and maintains this rustic lodge as well as the portion of the Appalachian Trail that runs right through Dartmouth's campus (and more.)
We hiked up Mt. Moosilauke - a 7.6 mile round trip - on Thursday 6/12 with a small group of '78s (Lex Bond Bundschuh, Doug Wildes, and Paul Conklin; Dave Hov and Fred Siekert hiked later that morning.) This was my first time back to the Ravine Lodge and Mt. Moosilauke since September 1974 - my freshman year at Dartmouth. Like most freshman even to this day, my time at Dartmouth began with a hiking trip that ended at Mt. Moosilauke and the Ravine Lodge. It has not changed at all in 34 years.
It’s fun to think back to my freshman trip in the Fall of 1974. I saw several of the people on that trip this past weekend at Dartmouth. Of my closest friends in life, a majority came from my Dartmouth years. In fact, when I think of the friends I made during my four years at Dartmouth, followed by all the weddings, the raising our families, the pursuits of our lives, etc. and then realize that the bonds we formed in Hanover have not only lasted 34+ years but appear to be on their way to lasting a lifetime, I am truly amazed. Dartmouth does that somehow.
Laurel and I began our time at this reunion on Weds. 6/11 by spending the night in the Ravine Lodge at Mt. Moosilauke.
This lodge was built by members of the Dartmouth Outing Club, a club at Dartmouth focused on hiking, camping, canoeing, kayaking, etc. It has been around forever and maintains this rustic lodge as well as the portion of the Appalachian Trail that runs right through Dartmouth's campus (and more.)
We hiked up Mt. Moosilauke - a 7.6 mile round trip - on Thursday 6/12 with a small group of '78s (Lex Bond Bundschuh, Doug Wildes, and Paul Conklin; Dave Hov and Fred Siekert hiked later that morning.) This was my first time back to the Ravine Lodge and Mt. Moosilauke since September 1974 - my freshman year at Dartmouth. Like most freshman even to this day, my time at Dartmouth began with a hiking trip that ended at Mt. Moosilauke and the Ravine Lodge. It has not changed at all in 34 years.
It’s fun to think back to my freshman trip in the Fall of 1974. I saw several of the people on that trip this past weekend at Dartmouth. Of my closest friends in life, a majority came from my Dartmouth years. In fact, when I think of the friends I made during my four years at Dartmouth, followed by all the weddings, the raising our families, the pursuits of our lives, etc. and then realize that the bonds we formed in Hanover have not only lasted 34+ years but appear to be on their way to lasting a lifetime, I am truly amazed. Dartmouth does that somehow.
Monday, April 21, 2008
It was a hard days day (and night)
I recently spent the day with my college friend, Bill Petit, about whom I wrote in my very first post on this blog (see below, July 30, 2007 post). Bill has endured nine months of hell on earth since the unfathomable tragedy that befell he and his family on July 23, 2007. Bill is a hero to me. He gets up each day and finds a way to make it through. He is not yet OK...or as he says it: he has "ok days and horrible nights."
It is hard. Very, very hard. Yet on a warm spring day in march, in San Antonio the day of the NCAA men's basketball championship game between Kansas and Memphis, Bill took time out to be with me. We talked. We shared. We reminisced. We laughed. We cried. He may have thought of it as me spending time with him. Before I got there, so did I. But when I left, and looking back on it, it really was Bill spending time with me. It was hard for Bill. A hard days day. But he graciously and unselfishly poured out his heart that day to me.
I still think about that day. Every day.
It is hard. Very, very hard. Yet on a warm spring day in march, in San Antonio the day of the NCAA men's basketball championship game between Kansas and Memphis, Bill took time out to be with me. We talked. We shared. We reminisced. We laughed. We cried. He may have thought of it as me spending time with him. Before I got there, so did I. But when I left, and looking back on it, it really was Bill spending time with me. It was hard for Bill. A hard days day. But he graciously and unselfishly poured out his heart that day to me.
I still think about that day. Every day.
Thursday, March 13, 2008
WOW: Big Bend National Park - March 2008
Laurel and I just returned from a week in Big Bend National Park. We spent part of the time with her parents and part just the two of us. In a word, "WOW!"
At almost 1,000,000 acres, Big Bend is big. And the terrain is quite diverse - from the Rio Grande, to canyons, to mountains, to forests, to deserts. Sort of like Texas, I guess.
We drove 1,200 miles in the week - it's a long way there and back - and saw a whole new part of Texas (new to us). Beautiful. Inspiring.
Monday, March 3, 2008
Spring has sprung...and I am looking for a princess
There is no mistaking it is spring here in central Texas. The mountain laurels and bartlett pear trees are in full bloom and fields of blue bonnets are starting to sprout.
March is upon us.
I have spent the first two months of 2008 kissing frogs...looking for that proverbial princess. Now I know it was frog turning into a prince in the fairy tale, but that doesn't work for me...it's a princess.
After taking a very serious look at two companies on the West coast (Bay Area and the Pacific Northwest) in the Fall of 2007, I passed on both. My bar for leaving central Texas is high: something extraordinary; something I simply MUST do. Although both of these companies are great and will, in my opinion, be successful, neither one rose to the level of extraordinary...for me.
Neither one turned into a princess.
During January and February, I spent a significant amount of time on a buy-out opportunity right here in Austin. Great SaaS company (people), wonderful niche, strong cash-flow, good growth prospects - completely boot-strapped with no outside capital. Perhaps a princess? I'll never know as my private equity partners and I were outbid by a "strategic" (e.g. a public company) buyer at the last minute.
Spring is (usually) a rainy season here in central Texas. And sometimes when it rains, it pours. Four other opportunities occupy my time as I write this. Will one be that princess? Perhaps...
March is upon us.
I have spent the first two months of 2008 kissing frogs...looking for that proverbial princess. Now I know it was frog turning into a prince in the fairy tale, but that doesn't work for me...it's a princess.
After taking a very serious look at two companies on the West coast (Bay Area and the Pacific Northwest) in the Fall of 2007, I passed on both. My bar for leaving central Texas is high: something extraordinary; something I simply MUST do. Although both of these companies are great and will, in my opinion, be successful, neither one rose to the level of extraordinary...for me.
Neither one turned into a princess.
During January and February, I spent a significant amount of time on a buy-out opportunity right here in Austin. Great SaaS company (people), wonderful niche, strong cash-flow, good growth prospects - completely boot-strapped with no outside capital. Perhaps a princess? I'll never know as my private equity partners and I were outbid by a "strategic" (e.g. a public company) buyer at the last minute.
Spring is (usually) a rainy season here in central Texas. And sometimes when it rains, it pours. Four other opportunities occupy my time as I write this. Will one be that princess? Perhaps...
Friday, December 28, 2007
2008 - Three Key Technology Trends to Watch
2007 is about to end. 2008 is a new year.
I believe there are three significant technology trends that are behind the best company formation and growth opportunities in our industry:
1. The monetization of search by way of Internet-based advertising. This trend started with Overture and others but is best embodied by Google's AdWords and AdSense offerings and the attendant amazing revenue and profit growth Google has generated in the lst four years.
2. Software-as-a-Service(SaaS) or delivering the functionality of application software such as CRM or ERP over an Internet connection from a hosted, typically multi-tenant, instance of an application. This trend has not only created a new business model for new SaaS companies such as Salesforce.com and NetSuite but also spurred traditional software vendors such as SAP and Oracle to offer their solutions in this same fashion.
3. Virtualization or the simulation of an entire server or PC in software. This trend has driven the incredible growth of VMware culminating in a spectacular 2007 IPO and a $30 billion valuation for the company (which is 85% owned by EMC.) A large number of venture-funded companies have been (and are being) created to capitalize on this trend.
I believe there are three significant technology trends that are behind the best company formation and growth opportunities in our industry:
1. The monetization of search by way of Internet-based advertising. This trend started with Overture and others but is best embodied by Google's AdWords and AdSense offerings and the attendant amazing revenue and profit growth Google has generated in the lst four years.
2. Software-as-a-Service(SaaS) or delivering the functionality of application software such as CRM or ERP over an Internet connection from a hosted, typically multi-tenant, instance of an application. This trend has not only created a new business model for new SaaS companies such as Salesforce.com and NetSuite but also spurred traditional software vendors such as SAP and Oracle to offer their solutions in this same fashion.
3. Virtualization or the simulation of an entire server or PC in software. This trend has driven the incredible growth of VMware culminating in a spectacular 2007 IPO and a $30 billion valuation for the company (which is 85% owned by EMC.) A large number of venture-funded companies have been (and are being) created to capitalize on this trend.
Wednesday, October 10, 2007
Dartmouth Class of 1978 - An Amazing Group of Men and Women
President James Wright made the following remarks during his Tenth Annual Report to the General Faculty this week:
"And I am delighted to be able to announce today that the Class of 1978 Reunion Giving Committee, made up of Bill Daniel, Elissa VonHeill Hylton, Steve Mandel, and Barbara Dau Southwell, has committed to meeting two goals by the time of their 30th reunion next June. Now we need to understand that the Class of '78 broke all previous reunion records in 2003 when they raised over $14 million for their 25th reunion. They have agreed to do this again! They have committed to raise the $40 million necessary to name the College's new Life Sciences building and contribute at least $3 million in unrestricted gifts supporting the student experience. This current commitment raises the bar for class gifts to an unbelievable height. I am so pleased that we will be able to name the Life Sciences building for the Class of 1978."
I am thrilled. It really is astounding that this group of men and women has had such financial success and yet remains as generous and committed to giving back to Dartmouth at the same time. It is a honor to be a part of such a group.
"And I am delighted to be able to announce today that the Class of 1978 Reunion Giving Committee, made up of Bill Daniel, Elissa VonHeill Hylton, Steve Mandel, and Barbara Dau Southwell, has committed to meeting two goals by the time of their 30th reunion next June. Now we need to understand that the Class of '78 broke all previous reunion records in 2003 when they raised over $14 million for their 25th reunion. They have agreed to do this again! They have committed to raise the $40 million necessary to name the College's new Life Sciences building and contribute at least $3 million in unrestricted gifts supporting the student experience. This current commitment raises the bar for class gifts to an unbelievable height. I am so pleased that we will be able to name the Life Sciences building for the Class of 1978."
I am thrilled. It really is astounding that this group of men and women has had such financial success and yet remains as generous and committed to giving back to Dartmouth at the same time. It is a honor to be a part of such a group.
Friday, September 14, 2007
VMWorld 2007 - Thoughts
11,000 attendees. Incredible "buzz." Huge success for VMware.
Some companies I thought were interesting...
ManageIQ. Former Novadigm (acquired by HP in 2004) execs, bootstrapped (self-funded), product not yet released. This is a complete systems management solution - a framework e.g. Tivoli or BMC. Focusing on virtualized infrastructure. No VC funding yet. No revs. Very limited traffic or buzz at VMWorld.
Innovawave. They have built a driver that accelerates I/O between the hypervisor and the physical I/O devices. Just got the VMware ESX version working - won't be generally available until early 2008. No revs. No customers. Good VCs - Matrix and Silverton (which is Bill Wood formerly of AV). Chris Ostertag (CEO) has a great track record in direct sales but this has to be a channel/distribution model so we'll see if he can do that. Very early days. Lots of interest from VMware folks....maybe they want to acquire them or kill them or both.
Q-Layer. Belgium company. Funded by Partech (whom I know - OK VCs). Trying to boil the ocean - "data center virtualization" is a HUGE set of problems to go solve. I am skeptical. Also, selling to service providers (hosters) which is not a great market in my opinion. I don’t like European-based software companies trying to sell into the US - rarely works. Good amount of traffic/buzz at the show.
TeamQuest. 15 years+ old company, profitable, 57% employee owned, based in Clear Lake, IA (where Buddy Holly died in a plane crash). Showing new product for reporting and Analysis of Virtual Machine performance. Very niche. Have about $25 million in revs from existing products for physical machines - performance reporting and analysis. Good traffic at their booth.
VKernel. 15 people, no revs. Have created a virtual appliance (a packaging mechanism where you combine your app with the VZN bits and it can run directly on VMWare with out installing anything else) that does charge back and capacity analysis/planning. Have had 2,000 downloads in last 30 days (since they released the product) and 100 are actively playing with the product. That is impressive. No VCs yet - bootstrapped. Lots of traffic/buzz.
FastScale. Creates the equivalent of virtual appliances - slimmed down packages that can be run directly on VMware ESX. Claim to fame is they make these very, very small - small disk footprint and memory footprint - by stripping out all the extraneous stuff the application being packaged does not really need to run. 10 beta customers, based in Sunnyvale, 2 VCs (ones I did not recognize). These guys were in the area of the show floor where you can rent a "stand" - a single station to demo your product. So, they were not getting much traffic.
Conclusions. Overall, lots of "features" masquerading as products and/or companies. But that is normal for this stage of a nascent market. VMware ESX 3 is the equivalent of Windows 3.1 (the first version of Windows that really worked well) - meaning it has just reached critical mass and the real big growth is in the future. Also, like the first working version of Windows, VMware ESX needs a lot of tools and other things around it to work better in a production data center environment. That means some of these things above are going to be successful in spite of their short comings or narrow focus. But, eventually, VMware will provide most of these things "in the box." The first "killer app" that uses virtualization as an enabling technology is not out there yet or at least not obvious to me.
Some companies I thought were interesting...
ManageIQ. Former Novadigm (acquired by HP in 2004) execs, bootstrapped (self-funded), product not yet released. This is a complete systems management solution - a framework e.g. Tivoli or BMC. Focusing on virtualized infrastructure. No VC funding yet. No revs. Very limited traffic or buzz at VMWorld.
Innovawave. They have built a driver that accelerates I/O between the hypervisor and the physical I/O devices. Just got the VMware ESX version working - won't be generally available until early 2008. No revs. No customers. Good VCs - Matrix and Silverton (which is Bill Wood formerly of AV). Chris Ostertag (CEO) has a great track record in direct sales but this has to be a channel/distribution model so we'll see if he can do that. Very early days. Lots of interest from VMware folks....maybe they want to acquire them or kill them or both.
Q-Layer. Belgium company. Funded by Partech (whom I know - OK VCs). Trying to boil the ocean - "data center virtualization" is a HUGE set of problems to go solve. I am skeptical. Also, selling to service providers (hosters) which is not a great market in my opinion. I don’t like European-based software companies trying to sell into the US - rarely works. Good amount of traffic/buzz at the show.
TeamQuest. 15 years+ old company, profitable, 57% employee owned, based in Clear Lake, IA (where Buddy Holly died in a plane crash). Showing new product for reporting and Analysis of Virtual Machine performance. Very niche. Have about $25 million in revs from existing products for physical machines - performance reporting and analysis. Good traffic at their booth.
VKernel. 15 people, no revs. Have created a virtual appliance (a packaging mechanism where you combine your app with the VZN bits and it can run directly on VMWare with out installing anything else) that does charge back and capacity analysis/planning. Have had 2,000 downloads in last 30 days (since they released the product) and 100 are actively playing with the product. That is impressive. No VCs yet - bootstrapped. Lots of traffic/buzz.
FastScale. Creates the equivalent of virtual appliances - slimmed down packages that can be run directly on VMware ESX. Claim to fame is they make these very, very small - small disk footprint and memory footprint - by stripping out all the extraneous stuff the application being packaged does not really need to run. 10 beta customers, based in Sunnyvale, 2 VCs (ones I did not recognize). These guys were in the area of the show floor where you can rent a "stand" - a single station to demo your product. So, they were not getting much traffic.
Conclusions. Overall, lots of "features" masquerading as products and/or companies. But that is normal for this stage of a nascent market. VMware ESX 3 is the equivalent of Windows 3.1 (the first version of Windows that really worked well) - meaning it has just reached critical mass and the real big growth is in the future. Also, like the first working version of Windows, VMware ESX needs a lot of tools and other things around it to work better in a production data center environment. That means some of these things above are going to be successful in spite of their short comings or narrow focus. But, eventually, VMware will provide most of these things "in the box." The first "killer app" that uses virtualization as an enabling technology is not out there yet or at least not obvious to me.
Friday, September 7, 2007
The Summer Is Over...
As the founding CEO of Surgient, Inc., I spent the past 4 1/2 years creating and leading the "new" Surgient. The story of the new Surgient is a wonderful "phoenix rising from the ashes" tale. In June of this year, I began transitioning my duties to our new CEO, Tim Lucas. I have spent the summer assisting Tim in the transition and helping to forge relationships between Tim (as the new CEO) and Surgient's key customers and partners.
The Summer is over.
Next week is VMware's - of newly heroic, blockbuster IPO fame - annual customer conference/partner called VMWorld. This should be a veritable feeding frenzy of small and new virtualization-technology focused companies, all hoping to bask in the glow of VMware's post-IPO halo. I believe this conference also signals a new phase in the ever-changing technology landscape. Virtualization is one of those disruptive technologies that changes the market landscape and this fall is a point in time when, I believe, we hit a tipping point.
We shall see.
The Summer is over.
Next week is VMware's - of newly heroic, blockbuster IPO fame - annual customer conference/partner called VMWorld. This should be a veritable feeding frenzy of small and new virtualization-technology focused companies, all hoping to bask in the glow of VMware's post-IPO halo. I believe this conference also signals a new phase in the ever-changing technology landscape. Virtualization is one of those disruptive technologies that changes the market landscape and this fall is a point in time when, I believe, we hit a tipping point.
We shall see.
Subscribe to:
Posts (Atom)
