|| Print ||
|Wednesday, July 21, 2010|
My conference call with two Jive Software executives on Monday was quite a workout. It isn’t easy to type in time with people so excited about their prospects that they can barely complete a sentence without flinging out phrases like “ awesome growth trajectory,” “totally stoked” and (avert your eyes now) “kicking ass and taking names.”
Fortunately, there’s substance behind the bluster. Jive, which is headquartered in Palo Alto but keeps a major presence in downtown Portland, has hired 100 people over the past year and has scored a $30 million investment from the same pair of Silicon Valley firms that backed Google. Expect an IPO over the next year, and plenty of hype about “magic quadrants” and “momentum in the space” between now and then.
Jive first took off in New York in 2001, but founders Bill Lynch and Matt Tucker brought the company to Portland shortly thereafter to grow it into a leader in social networking software for businesses. The founders and their early hires created a great technology platform and a notoriously lively workplace, but they never revved up the growth engines sufficiently to go public.
That has changed. Over the past few years, fast-talking California tech/IPO veterans gradually have taken leadership of the company, culminating with the move of headquarters from Portland to Palo Alto in May. CEO Dave Hersh was replaced with Tony Zingale, who built Mercury Interactive into a billion-dollar company before engineering a $5 billion merger with Hewlett Packard. Other recent hires include executives from Cisco and Webtrends.
In addition to the new headquarters in California, Jive is also growing its office in Boulder, Colorado following the January purchase of Filtrbox, a social media monitoring company. The 100 new hires from last year were split fairly evenly between the California, Colorado and Portland offices, executives say. Jive’s Portland office at the Federal Reserve Building is humming with a new floor being built out and about a dozen hires over the past few months. More hiring is expected soon as Jive accelerates for a probable 2011 IPO.
Sequoia Capital had already invested $27 million in Jive, and is now partnering with Kleiner Perkins Caufield & Byers on the new $30 million deal. Sequoia and KFCB have backed some of the biggest tech companies of the past two decades, including Amazon, Apple and Google.
“You don’t get these types of firms to write these types of checks unless you’ve got something really special to offer,” says Jive CFO Bryan LaBlanc.
“We’re the fastest growing and most innovative independent company in our space,” adds Christopher Lockhead, Jive’s Chief of Strategy.
Let the hype begin.
Ben Jacklet is managing editor of Oregon Business.
|The Private 150: Bigger But Leaner|
|The Perfect Food|
|Powerlist: Staffing Firms|
|Taxis Uber Alles?|
|Google tests drone deliveries|
|Abercrombie to remove logos from most clothing|
|FBI investigates JPMorgan 'cyber-attack'|
|GoPro launches camera dog harnesses|
|Snapchat now worth $10B|
|Tomatoes may lower prostate cancer risk|
|WHO: Ban e-cigarette use indoors|
Vigilant enters a New Year with a new president.
How George Fox has become one of Oregon's largest private universities.
Forest Grove sees growth in the burgeoning food and beverage scene.
Lane Powell Shareholder William T. Patton has been appointed to the board of directors for Cascade AIDS Project, an organization that provides educational services and outreach to thousands of Oregonians living with HIV/AIDS.
Fifty-one Lane Powell lawyers were recently selected by their peers for inclusion in The Best Lawyers in America® (Best Lawyers) 2015; of those selected, 23 lawyers are from the Firm’s office in Portland, Oregon.
Barran Liebman is proud to announce that Andrew Schpak, a Partner of the firm, has been named Chair of the American Bar Association’s Young Lawyers Division for the 2014-2015 bar year.