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Rackspace Technology

Rackspace Technology – Helping Business Grow By Managing Cloud For Them.

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Cloud computing is the field that has contributed a lot to the IT industry. In fact, the very technology is the basis of many leading companies and their success. Though cloud computing has been there for a while now, and many have adopted it for their businesses. But there are still many struggling to adapt to the rapidly changing environment and requirements for cloud computing. To solve these issues for businesses, Rackspace Technology came with its cloud computing platforms and management tools. For the past more than twenty years, the company has not only grown itself but has helped its client grow as well.
Rackspace is mainly known for its private cloud environment named OpenStack. OpenStack is a reliable cloud environment based on Red Hat, which has been built to provide affordable deployment, updating, and support for cloud solutions to companies.

About Rackspace Technology

RackSpace is twenty-three years old American Cloud-computing company, providing multi-cloud solutions across applications, data, security, and infrastructure. The company headquarters is based in San Antonio, Texas, U.S., serving customers all around the world. The company has 7,200 employees working for it in its various offices established globally. Apart from its headquarters in Texas, the company has offices in countries like the U.K., Dubai, India, Switzerland, the Netherlands, Canada, Australia, etc. RackSpace has also established its data centres in Virginia, the UK, Chicago, Germany, Hong Kong, Australia, and Kansas City. It is a publically traded company and trades on the NASDAQ market with ticker RXT. As of 2019, the company made annual revenues worth US$2+ billion.

Rackspace Technology
Image source: www.rackspace.com

The Back Story

The founding team of RackSpace included Richard Yoo, Dirk Elmendorf, Patrick Condon, Morris Miller and Graham Weston. When cloud technology was a new and emerging field, well-established companies got easily comfortable with it. But the small and mid-size firms found it difficult to adapt to cloud computing and were lagging behind. The main reason behind the issue was that the companies really don’t know about cloud computing or were unaware of how to use it for their businesses. This way, from starting a business of application development, the founders ended up thinking of building an outsourcing company for hosting and managing the cloud services for businesses.

Richard Yoo as its CEO, all five founders founded RackSpace Technology in October 1998. From the beginning of the company, it was entirely focused on better services and support for its customers. The company received its first capital investment through a round of funding in March 2000, Norwest Venture Partners and Sequoia Capital being the major investors.
The unique idea behind the company helped it grow really fast, but alongside the facilities and growth opportunities for the employees also won 32nd place for RackSpace in Fortune’s “Top 100 Best Companies to Work For 2008”. The company was listed in the same again in 2011 and 2013. In 2008, the company went public on New York Stock Exchange and raised $187.5 million in its first IPO.
RackSpace worked independently for 18 years, and in 2016, Apollo Global Management announced that it will be buying RackSpace for a sum of $4.3 billion. The acquisition was completed in November of the same year, and RackSpace stopped trading on NYSE. In 2020, the company went public again, this time on the NASDAQ market with the symbol RXT.
In its more than twenty years of journey, RackSpace made some acquisitions that helped in its rapid growth. The companies acquired by RackSpace include Webmail.us (2007), Jungle Disk (2008), SliceHost (2008), SharePoint911 (2012), TriCore Solutions (2017), Datapipe (2017), RelationEdge (2018), Onica (2019), etc.

The Founder/CEO

Kevin M. Jones is the current CEO at RackSpace Technology. He is one of the leading business people in the field and has over thirty years of experience in technology services. Kevin went to James Madison University and earned a BBA degree. He is also a Certified Management Accountant.
Before becoming the CEO at RackSpace, Kevin has handled many leadership roles at various leading technology companies. He has served as the Vice President of HP’s Enterprise Services (the Asia Pacific and Japan). He was also the Vice President at EDS and Chief Customer and Sales Officer at Dell. At DXC Technology (DXC), Kevin worked as the Senior Vice President and General Manager of the Americas region. He was also the CEO at MV Transportation. In April 2019, Kevin joined RackSpace as the Director and the CEO.

Bloomberg L.P.

Bloomberg L.P. – One Of The Most Famous Companies In The Mass Media Industry.

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Founded in 1981, Bloomberg L.P. is one of the most renowned media companies based in Manhattan, New York City. The company is famous for offering financial software tools, enterprise applications, and news to various financial organizations. Bloomberg L.P. offers these services to various companies through the Bloomberg Terminal which is the core revenue-generating platform of the company. Currently, the company has established offices in 167 different locations and has nearly 20,000 employees. BloombergL.P. is a private company and there is a limited partnership.

About the Company

In 1981, Michael Bloomberg with help from Thomas Secunda, Duncan MacMillan, and Charles Zegar founded Bloomberg L.P. Apart from these four founders, Merrill Lynch invested in the company (12% ownership investment). Bloomberg has multiple services and products that include Bloomberg Terminal, Bloomberg News (wire service), Bloomberg Television (a global television network), Bloomberg Radio, magazines, and newsletters. The revenue generated by Bloomberg has crossed the $10 billion mark (in 2019). The company is currently under the leadership of Michael Bloomberg (co-founder and CEO).

Bloomberg L.P.
Image source: prnewswire.com

History of Bloomberg L.P.

The major contribution behind establishing Company as an independent company goes to Michael Bloomberg. Back in 1981, when Salomon Brothers, a huge American international bank was acquired, Michael Bloomberg received settlement money of $10 million. Before the acquisition of Salomon Brothers, the bank used Bloomberg as the computerized financial system. The company was designed in-house and when Michael received $10 million he used that money to start Innovative Market Systems (IMS).

Michael decided to develop his own computerized system that will provide real-time market data and various financial analytics to the Wall Street firms. In 1982, Michael released the Market Master Terminal (later known as the Bloomberg Terminal) into the market and Merrill Lynch became its first customer. Merrill Lynch made a deal with the company that on behalf of buying 20 terminals and a 30% equity stake for $30 million Bloomberg won’t be able to market the terminal to any of Merrill Lynch’s competitors for the next five years.

In 1986, the name of the company was changed to Bloomberg L.P. (Limited Partnership) and in the upcoming years launched other products like Bloomberg News and Bloomberg Terminal Subscription. In 1993, Bloomberg.com was first launched to provide information on markets, currency conversion, the latest news, and events in the financial sector. In 1996, the company decided to acquire ⅓ of the stake owned by Merrill Lynch for $200 million. This acquisition valued the company at $2 billion. During the financial crisis, Merrill Lynch decided to sell the remaining stake back to the company and it valued Bloomberg at $22.5 billion approximately.

Since 1981, the company has made several acquisitions ranging from magazines to software companies. In 1992, the company purchased New York Radio Station WNEW for $13.5 million. It was later renamed Bloomberg Radio. In 2009, a weekly business magazine from McGraw-Hill called BusinessWeek. This magazine was relaunched as Bloomberg Businessweek and this acquisition was done to bring general business to the media audiences.

Major Acquisitions

The same year, the company also purchased New Energy Finance, a data company based in the UK. This acquisition was done so that company becomes an industry source with abundant information to support low-carbon energy development. Some of the other companies acquired by Bloomberg are Arlington (Bureau of National Affairs based in Virginia), Dublin-based software company PolarLake, Barclays indices business, and CityLab.

Michael Bloomberg – CEO and Co-Founder

Michael Bloomberg, mostly famous as Mike Bloomberg, is a famous American businessman and politician. He is the co-founder and also the majority owner of the company. Michael went to John Hopkins University as graduated as an electrical engineer in 1964. Later he went to Harvard Business School and acquired his MBA degree. Michael was a general partner at the Salomon Brothers upon acquisition of which led Michael to establish his company. Currently, Mike Bloomberg is among the top 20 billionaires in the Forbes billionaires list.

RingCentral

RingCentral – The Leading Cloud-based Communications Solutions Provider.

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An uninterrupted communication system is a basic requirement for the success of a business. And when you have to deal with international clients, it becomes really necessary to set up a communication system which allows you to have a smooth conversation with the client without making any extra efforts. The American company RingCentral is one of the best business communication services providers which is one of the leaders of the field. When it comes to seamless communication lines for their business, RingCentral is the first choice of most businesses.

About The Company

RingCentral is an American company providing cloud-based communication SAAS services to businesses. The company was founded in 1999, and its headquarters is based in Belmont, California, U.S. It is a publicly traded company and trades as an RNG on New York Stock Exchange. The company had its first IPO in 2013. The company specializes in cloud computing-based business phone systems, and RingCentral Office, RingCentral Mobile, RingCentral Fax are some of its popular products. The company has also launched RingCentral Professional offering services like universal telephone numbers, voice mail, web conferencing, etc., through a dedicated app for both iOS and Android.
Apart from the US, the company has established offices in countries like Denver, Toronto, London, Paris, Singapore, Manila, etc. As of 2019, the company had employed 2,363 people and made annual revenues worth $902.8 million.

Founding RingCentral

Vlad Shmunis and Vlad Vendrow founded RingCentral in 1999 when they sold their previous business RingZero Systems to Motorola. Vlad Shmunis was the founder, and the CEO of RingZero, whereas, Vlad Vendrow worked as the Director of Engineering at RingZero. The company provided communication services to businesses that worked on Microsoft Windows. After they sold the company to Motorola they founded the company in 1999, this time, providing similar services as of RingZero, but using the emerging cloud technology. As the way of doing business was changing with the birth of new technologies, the two founders thought of using those new technologies for the benefit of the business.
RingCentral launched its first cloud phone system in 2003. Though the company was founded in 1999 but received its first capital investment in 2006 through a round of funding, Sequoia and Khosla Ventures being the major investors. In 2009, the company established its services in the UK, and in 2012, the company partnered with AT&T. The next year, RingCentral went public on NYSE, raising $39.8 million in the IPO. The company also partnered with UK’s BT in 2014.
In 2015, Company acquired Glip, and in 2018, it took over the operations of Dimelo, followed by the acquisition of Connect First. The company, in partnership with Avaya, launched the Avaya Cloud Office application in 2020. The same year it also introduced RingCentral Video, a video conferencing product for businesses, and acquired DeepAffects. The next year, Company acquired Kindite.
As per the records, RingCentral is providing its services to 350,000 businesses globally. The company is also one of the fastest-growing cloud-based communication services providers. In fact, Synergy Research ranked RingCentral number one cloud communications solutions in 2017.

RingCentral
Image source: businesswire.com

The Founders Of RingCentral

Vlad Shmunis, along with Vlad Vendrow, founded RingCentral in 1999. Shmunis is also serving the company as the CEO. He went to San Francisco State University, where he earned a bachelor’s as well as a master’s degree in computer science. Shmunis has been in the software industry for more than thirty years. Before founding RingCentral, he has handled prominent positions in companies like Ampex Corporation and had founded another communication system company named RingZero Systems.
On the other hand, Vlad Vendrow is serving the company as the CTO. He has got a master’s degree in computer science and applied mathematics from Saint Petersburg Electrotechnical University in Russia. Before founding the company, he worked as the Director of Engineering at RingZero. Vendrow has been granted over 40 patents in the field of unified communications and cloud services. He is also credited for the success of the RingCentral cloud phone solution.

DocuSign

DocuSign – An US-based Software Company Famous For Its e-Signature Service.

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DocuSign is a famous American company that is based in San Francisco, California. The company provides DocuSign Agreement Cloud that allows various organizations to manage electronic agreements. And, as a part of its cloud service, DocuSign also offers e-Signature so that the users can sign electronically on different devices. The company was founded in 2003 by three founders, Court Lorenzini, Tom Gonser, and Eric Ranft.

About DocuSign

DocuSign provides worldwide services and its products are used in more than 180 countries by 1 million customers approximately. US ESIGN Act and the European Union’s eIDAS regulation both approves the digital signature produced by DocuSign. The CEO of the company is Daniel Springer. DocuSign became a public traded company in 2018 when it filed its first IPO. Former CEO Keith Krach was the largest individual shareholder of the company at the time of IPO. Other major shareholders are Sigma Partners, Ignition Partners, and Frazier Technology Ventures.

Founding Story

In 2003, Tom Gonser came up with the idea of DocuSign when he was working for NetUpdate. Tom founded NetUpdate in 1998 and he served as the CEO of the company back then. Throughout the journey of NetUpdate, the company has acquired several companies and among these companies, DocuTouch was a start-up. This company was a Seattle-based start-up that provided e-Signature services.

DocuTouch received $4 million in funds from Timberline Venture Partners, Bill Kallman, and Jeff Tung. When NetUpdate acquired DocuTouch, Timberline invested another $1 million in the company. The company also held various patents for web-based digital signatures and collaboration. Tom Gonser wanted to establish the e-Signature start-up as a different company and hence with the support of Court Lorenzini, they purchased the assets of DocuTouch from NetUpdate and started DocuSign. After establishing the company, Gonser left NetUpdate to focus full-time on his new start-up.

DocuSign
Image source: cloudinary.com

History of Company

After buying out DocuSign from NetUpdate, the company began its sale in 2005. zipLogix was one of the first customers of the company as it integrated the DocuSign e-Signature to its real estate virtual forms. The e-Signature of DocuSign became a very convenient service especially for court-based events like mock trials and encrypted audit logs. When the company was founded, Court Lorenzini became the CEO of the company but he stepped down in 2007 both as CEO and Chairman of the Board. He took his role as Executive Vice President of Business Development.

Matthew Schiltz replaced Lorenzini in early 2007 and he served as the CEO of the company until 2010. Till this time, the headquarters of the company was based in Seattle but when Steven King became the new CEO of the company it was shifted to San Francisco. In June 2010, DocuSign expanded its services to phone-based authentication including for both iPhone and iPad. It named the e-Signature service as e-Signature Transaction Management. The growth of the company truly escalated during this period as DocuSign alone was responsible for 73 percent of the total SaaS-based e-Signature market.

Recent Years

The massive growth of the company attracted many new investors including Scale Venture Partners that led a funding round and raised $27 million. In 2011, the company opened a new office in San Francisco that today has become the headquarters of the company. It also opened a new office in London in the same year. In 2012, DocuSign signed a deal with PayPal to carry out transactions with DocuSign Payment. After this joint partnership with PayPal, the company also entered into joint ventures with Google Drive and Salesforce.com.

In mid-2012, a report in Business Insider showed that the majority of the Fortune 500 companies have signed up for using DocuSign. In the last couple of years, DocuSign has acquired two companies, Spring CM and Seal Software. In 2016, the company ranked 3 on the Forbes Cloud 100 list. The company hired a new CEO in 2017, Daniel Springer.

Daniel Springer – CEO of DocuSign

Daniel Springer has 30 years of experience in leadership and innovation across the SaaS industry. Before joining DocuSign, Daniel served as the Chairman and CEO of Responsys and prior to that, he worked at several other companies including Modem Media, Telleo, NextCard, and McKinsey & Company.

SS&C Technologies

SS&C Technologies – An American Tech Company That Provides SaaS To The Finance Sector.

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SS&C Technologies Holdings Inc is a fintech company based in Windsor, Connecticut. The company mainly sells software and SaaS (software as a service) to financial service companies. SS&C has a worldwide market and it is traded as a public company and listed in Russell 1000 component. William C. Stone founded this company in 1986 and he is still serving as the chairman of the board. The company has more than 24,000 employees and in the past years, it has acquired numerous businesses that specializes in specific fintech markets.

History Of SS&C Technologies

Founded in 1986, SS&C Technologies went public after ten years but again it was privatized in a leveraged buy-out followed by a second IPO. Currently, SS&C is a public company and it is known for acquiring companies from various horizons which brings a new customer base and unique product lines for specific sectors. They are mainly focused on bringing new products and talents into the company and increase its subsidiaries.

Till 2017, SS&C completed 47 acquisitions in total from the day it was officially launched. In its history of acquiring companies, SS&C made the largest acquisition went it bought Advent Technologies for $2.7 billion. This helped SS&C increase the intensity of its presence in the financial tech sector because Advent was one of its biggest competitors. This acquisition helped SS&C gain a big software company whose products were used by 4,300 various investment fund managers.

In 2005, SS&C Technologies acquired a company called Financial Models Company Inc for $17.70 per share. The company was a leading technology solutions provider for the investment world. The acquisition was completed in cash. SS&C spend a total of $10.13 million for buying the shares of this company and at the end of the deal, the total share of 91 percent was owned by SS&C. This marks another important acquisition in the history of SS&C because the company had to win a bidding war where several other companies participated as well.

SS&C Technologies
Image source: www.worldipreview.com

Recent Years

The last decade started with SS&C acquiring a broker-neutral system provider called Tradeware Global. After two years, SS&C acquired a Texas-based business called Hedgemetrix and this new deal brought twenty customers to the company. Currently, Hedgemetrix is a part of SS&C’s GlobeOp business. The same year, SS&C acquired another company called Thomson Reuter’s PORTIA. The deal was closed for $170 million. For $95 million in cash, SS&C acquired DST Global Solutions and it helped the company target Asia-Pacific locations and EMEA.

In 2015, the company announced that it would be acquiring Citigroup’s Alternative Investor Services business. This deal was closed for $425 million and the acquisition included Hedge Fund Services and Private Equity Fund services. The next company SS&C acquired was Primatics Financial for $122 million from the Carlyle Group and in 2016 the acquisition of Wells Fargo’s Global Fund Services Business took place. This strengthened the fund relationship of SS&C and also brought 384 new employees to the company. Some of the other companies acquired by SS&C in recent years are Salentica, Conifer Financial Services, DST Systems, etc.

Awards

In the last 35 years, SS&C Technologies has been the recipient of several awards and accolades. William C. Stone, for his immense contribution to the financial service industry, received the 2012 Entrepreneurial award from Marquette University. In 2015, the company received Custody Risk Americas Awards for the GlobeOp business unit. It also received the best portfolio accounting title for the Advent Geneva platform and also won WealthManagement.com industry awards for account aggregation.

SS&C Technologies – Founder

William C. Stone is famous as the founder, CEO, and chairman of the board of SS&C Technologies. Stone went to Marquette University and acquired a business administration degree in 1977 and started his company in 1986. Stone initially started the business from his home in Connecticut which has taken a gigantic shape today. Before founding the company, he worked at KPMG.

paychex

Paychex – Helping The Small-Medium Business With Their Payroll & Human Resources Services.

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In the old times, people were hired just because they were needed, but with the industrial revolution, the process of hiring people became a skillful trade. With time and advancements in technology, the field of human resources became a separate entity and an equally important part of a company like the others. Today, the field itself has a different set of rules, programs, software, and in fact, companies. Paychex is one of the leading human resource, payroll, and benefits outsourcing companies that is providing its services for small to medium-sized businesses around the world. It is a fifty years old corporation and has clients in almost every country in the world.

About the Company

Paychex is an American company with its headquarters based in Rochester, New York. B. Thomas Golisano founded Paychex in 1971, and for the past 50 years, the company has established over 100 offices in different sites across the globe. The company has a client base as big as 670,000 in the U.S. and Europe only, and as of 2018, about 14,300 are working for the company. The company deals in Payroll, HR, Benefits, and Insurance services, whereas, the United States, Germany, Brazil, Denmark, Norway, Sweden are the major countries of service for Paychex. As per the 2018 records, the company held assets worth US$ 7.46 billion and made revenues worth US$ 3.38 billion.

paychex
Image source: prnewswire.com

Founding of Paychex

B. Thomas Golisano founded Paychex in 1971 in Rochester, New York. Before founding the company, he worked at Electronic Accounting Systems (EAS) as a sales manager. EAS was a human resource company that offered its expensive services to well-established companies in the area. This ignited the idea in Golisano’s mind of having similar services for small to medium size businesses at affordable prices. After researching for quite a while, he realized that his idea had a lot of potentials, so he decided to start a payroll service for small businesses that was also affordable for them.
Before starting his company, Golisano reached out to the head of EAS with the idea to market a similar service for the small business. But the company was not interested in targeting the small businesses, despite it helped Golisano to rent a space, and he started Paychex as PayMaster with a $3000 capital in 1971.
Since PayMaster was going to target small businesses, the fees were quite minimal and based on the number of employees in the company. Also, there were no unnecessary formalities of form filling and submitting to the company. In fact, the clients just had to contact PayMaster through a phone call, and the rest was in the hands of Paychex. Within a year, Paychex had got 42 clients, and in the next five years, the number raised to 300 clients in the Rochester area.
The expansion of the company started with opening a branch in Syracuse in partnership between Golisano and his friend and selling a franchise to another friend to work in Miami. By 1979, the company had reached 22 cities and employing 200 people to serve 5,700 clients. In 1983, the company went public on NASDAQ, setting a record of steady growth.
By 1986, Paychex had raised to 60,000 clients and 58 offices. By the end of the 80s, the company profits were doubled. During the same time, Paychex also made some acquisitions like Minneapolis-based Purchase Payroll. The company also spent money on staff training and made sure that the clients were served professional assistance. At the beginning of the 90s, Paychex added services like Paylink, Reportlink, Taxpay service, and Human Resource Services, etc.
In 1996, Paychex acquired Californian company Olsen Computer Systems Inc. and Florida’s National Business Solutions. In 2002, the company was listed in the Fortune’s list of “100 Best Companies to Work For” in the United States. The company’s revenues also exceeded $9 billion in 2017. The next year, Paychex won the World’s Most Ethical Companies by Ethisphere for the 11th time in a row, and Forbes listed it 76th on its list of the World’s Most Innovative Companies.

The Founder/CEO

Blase Thomas Golisano founded Paychex in 1971. He is an American entrepreneur and author. He was born on 14 November 1941 in Rochester, New York, the U.S. He went to Alfred State College and has a degree in Business Administration. Before founding Paychex, he worked at EAS as a sales manager. He served the company as the president and the CEO from 1971 to October 2004. Currently, he is the chairman of the board of the company. According to Forbes 400 list, he is the 238th wealthiest person in America.