incubating mobileiron

IncubationMay 2010

Bob Tinker, cofounder and CEO, MobileIronEmail: [email protected]

Phone: (415) 505-6544

MobileIron Confidential 21/10/2011

Topics

1. What makes the Storm incubation process interesting?

2. Why did I do it again?


MobileIron Context

Most recent incubation

Software for smartphones

Outside: Frank Marshall(NetScreen chairman)

Egg-stage

Feb 2008

Initial thesis with Storm

Flush out idea

Customer validation

Shift to execution

Build the team

Mar 2008

Apr 2008

Fundraising from Norwest and Sequoia- And Storm

Fall 2007

Incubation

Hatch

Learn to Fly

Leave the nest

Aug 2007


Last time…Airespace

2002 2003 20042001 2005

Incubation �S

er A

�E

ng

rT

eam

�E

xec

Tea

m

�F

CS

/ N

EC

500 customers

~180 people

Y-Rev = $26M

~100 Customers

~75 people

Rev = $4M

30 people Rev = $17M/Q

�A

rub

a/

Tra

pez

e

�M

ajo

r cu

sto

mer

s

�F

idel

ity

Win

�N

YS

E

�S

er B

(2

2M)


What makes Incubation interesting?

� Raise money in tough market

� Survive iterations of idea with low burn rate

� Intellectual honesty

� Genetically engineer team

� Avoid “founder-itis”

� Find a rich vein. Mine it.

� Focus on customer validation; capacity to iterate

� Genetically engineer team

� Scar tissue / pattern recognition

� Baked ideas attract best talent

� Frank Marshall

� Unusually fast fundraising

� Hiring people

� Quick shift to execution


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

incubating mobileiron

Technology