Just met with a Minneapolis stealth startup that’s meeting with In-Q-Tel and the NSA next week. (Where do you meet with the NSA? As this guy was told, “Oh, we’ll tell you that when the time comes.”) Man, this harks me back to my days working with the first CEO of Secure Computing, Kermit Beseke, way back in late ’80s. He knew the NSA guys on a first-name basis. And the rest became history (starting in ’95, with one of the top-5 hottest IPOs for several years running). Wow, when you think of how many major technologies we take for granted actually started with the government, it’s amazing. How about a little thing called, oh, *email* for one? And the very Internet itself. I remember the guys at Secure Computing telling me about email, and then Mosaic and the Web, waay before they were much known outside of government circles. This world of stealth startups is so much fun I can hardly stand it! Oh, and by the way, for all you folks now scratching your head and wondering “Minnesota?” — this has nothing to do with government stuff, but, remember, that early search technology Gopher started right here, too…at a great school called the U of MN!
Category: Venture Capital/M&A/Angels (Page 54 of 54)
Interesting juxtaposition. How can you be open and still secret? Well, secret for a while, anyway. I attended a VC gathering the other day here in Minnesota, which was a panel about new trends and developments in software. One of the panelists was Matt O’Keefe, who founded Sistina Software, bought by Red Hat about two years ago. Matt now has a new (stealth) startup, about which I know little more than the name: Alvarri … even after the panel! And his web site sure is interesting! (If it’s even his.) But I sure know open source runs all through this new gig of Matt’s, with his stellar background.
Anyway, later in the panel, Matt came out with a comment about open source that jumped out at me: at Red Hat, only 2-3% of users actually pay for support. Another panelist, the software analyst at Piper Jaffray, said that’s the greatest challenge facing open source vendors, and the guy from Accenture tossed in that he doesn’t see that exceeding 5% anytime soon.
The whole notion of open source and new software startups came back to me when I saw Steve Larsen’s latest post on stealth company Krugle’s blog about the SD Forum’s meeting this week out in the Valley. Wish I could be a fly on the wall at that one.
Gets a bylined piece in the Minneapolis Star-Tribune business page today!
Rick Brimacomb, the current president of the MN Venture Capital Association, is a smart guy. He’s a friend and former client. But I didn’t know he could write so well — way to go, Rick!
Is it just me, or are more VCs writing (and blogging) these days? I see a lot of pieces by them on Always On Network, too. Maybe they’re bored with their jobs? (Just kidding, Rick.)
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