New Relic raises $80M

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Wednesday, February 06, 2013

San Francisco software company New Relic raised $80 million from investors. The company has a large presence in Portland.

“We’re going to invest heavily in R&D, expanding into new businesses and preparing for an IPO and life as a public company,” [Founder and CEO Lewis] Cirne said. “We have a deep pipeline of product initiatives.”

That starts with mobile software, which New Relic expects to roll out this quarter. To date, the company has served 35,000 customers with technology that lets them locate bugs in their applications using a web-based dashboard. For a site that’s slow or not responding, the client can drill down to see if it’s a problem with the network, a failed server or a spike in traffic. Customers range from long-established businesses such as Nike and Sears to emerging web companies including Airbnb and Github. New Relic is taking on tech giants such as IBM, Hewlett-Packard and CA (which acquired Wily) by offering subscription software for $24 or $149 per month per server and a free product with fewer features.

Read more at OregonLive.com.

{biztweet}new relic{/biztweet}

 

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There’s a fascinating article in the December issue of the Harvard Business Review about a profound power shift taking place in business and society. It’s a long read, but the gist revolves around the tension between “old power” and “new power” as a driver of transformation. Here’s an excerpt:

Old power works like a currency. It is held by few. Once gained, it is jealously guarded, and the powerful have a substantial store of it to spend. It is closed, inaccessible, and leader-driven. It downloads, and it captures.

New power operates differently, like a current. It is made by many. It is open, participatory, and peer-driven. It uploads, and it distributes. Like water or electricity, it’s most forceful when it surges. The goal with new power is not to hoard it but to channel it.

The authors, Henry Timms and Jeremy Heimans, don’t necessarily favor one form of power over another but merely outline how power is transitioning, and how companies can take advantage of these changes to strengthen their positions in the marketplace. 

Our Powerbook issue might be viewed as a case study in the new-power transition. This annual book of lists provides information on leading businesses, nonprofits and universities in the state. Most of the featured companies are entrenched power players now pursuing more flexible and less hierarchical approaches to doing business. Law firms, for example, are adopting new technologies and fee structures to make legal services more accessible and affordable.

This month we also take a look at a controversial new U.S. Securities and Exchange Commission rule requiring public companies to disclose the median pay of workers, as well as the ratio between CEO and median-worker pay. 

Part of the 2010 Dodd-Frank financial reform law, the rule will compel public companies to be more open about employee compensation, with the assumption that greater transparency will improve corporate performance and, perhaps, help address one of the major challenges of our time: income inequality.

New power is not only about strategy and tactics, the Harvard Business Review authors say. “The ultimate questions are ethical. The big question is whether new power can genuinely serve the common good and confront society’s most intractable problems.”

That sounds like a call to arms. Or a New Year’s resolution. Old power or new, the goals are the same: to be a force for positive change in the world. Happy 2015!

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