Incubating MobileIron


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Storm Incubation of AireSpace and Mobile Iron

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Incubating MobileIron

  1. 1. Incubation May 2010 Bob Tinker, cofounder and CEO, MobileIron Email: Phone: (415) 505-6544
  2. 2. Topics 1. What makes the Storm incubation process interesting? 2. Why did I do it again? 1/10/2011 MobileIron Confidential 2
  3. 3. MobileIron Context Aug 2007 Initial thesis Most recent incubation with Storm Egg-stage Software for smartphones Fall 2007 Flush out idea Customer validation Incubation Fundraising from Feb 2008 Norwest and Sequoia Hatch - And Storm Mar 2008 Shift to execution Learn to Fly Outside: Frank Marshall (NetScreen chairman) Apr 2008 Build the team Leave the nest 1/10/2011 MobileIron Confidential 3
  4. 4. Last time…Airespace n Team i Team NEC ty W mers Trap a/ eze custojor E S er A Arub li / ( 22 M B Engr Exec NYS Fide FCS ) Ma S er Incubation 2001 2002 2003 2004 2005 30 people ~100 Customers 500 customers Rev = ~75 people ~180 people $17M/Q Rev = $4M Y-Rev = $26M 1/10/2011 MobileIron Confidential 4
  5. 5. What makes Incubation interesting? Raise money in tough market Find a rich vein. Mine it. Survive iterations of idea with Focus on customer validation; low burn rate capacity to iterate Intellectual honesty Genetically engineer team Genetically engineer team Scar tissue / pattern recognition Avoid “founder-itis” Baked ideas attract best talent Frank Marshall Unusually fast fundraising Hiring people Quick shift to execution 1/10/2011 MobileIron Confidential 5
  6. 6. Why again? Quality of the idea Team I know Incubation process basis to assess the opportunity improve likelihood of success Guidance and involvement (Storm & Frank) Trust and relationship 1/10/2011 MobileIron Confidential 6