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September - 2007 - issue > Cover Feature

The Audacity of Faith

Dev Ittycheria
Tuesday, September 4, 2007
Dev Ittycheria
On the afternoon of July 25th, two siliconindians rang the Nasdaq closing bell to mark the closing of the US stock market. That day also signified a milestone many entrepreneurs can only dream about. It was the day the company they founded six years ago – BladeLogic – had become a public entity. July 25th was also the culmination of the hard work and dedication of many different people across all parts of the business and a huge milestone in the company’s history. The company’s path to the IPO is also a story about the power of faith:

* It was faith that two siliconindians worked extremely hard to start a software business in the technology sector’s post-bubble dark days of the summer of 2001, even though neither of them had any direct experience running a software company. Most of their friends and family members thought they had gone mad to attempt this given the tech “bubble” had burst.

* It was faith that in a period when raising venture capital was extremely difficult – many VCs didn’t even bother returning their phone calls – they were fortunate enough to find two top tier venture capital firms – Battery Ventures and Bessemer Venture Partners – who believed enough to give them a home for a few months to work on their idea.

* It was faith that they met another entrepreneur based in California who had built an interesting utility designed to make systems administrators very productive. This entrepreneur’s own faith told him it made sense to let these siliconindians acquire his small business, relocate 3,000 miles to Boston and essentially put his life’s work in the hands of people he had known for less than 2 months.

* It was faith that they closed their first round of financing just 5 days before the awful events of 9/11. They, like most other people at the time, were in complete shock at what had occurred. Their commitment to the business made them continue on. They hired their first set of employees and began working on the product even though they had the nagging worry that with the world forever changed, would anyone really care about the problems they were trying to solve.

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Reader's comments(1)
1:A greatly inspiring story....be it the US or Australia and any other part of the A greatly inspiring story....be it the US or Australia and any other part of the A greatly inspiring story....be it the US or Australia and any other part of the A greatly inspiring story....be it the US or Australia and any other part of the A greatly inspiring story....be
Posted by: - 04th Oct 2007
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