Last week we checked in with two beauty and fashion focused start-ups that we had profiled back in 2006. Time revealed that the two companies birthed out of similar ideas had grown in completely different directions. You can read about them here.
This week we are looking back to 2007 – the year of the YouTube boom and Britney Spears’ shaved head – to see what came of the Canadian network service start-ups that we predicted would hit the big time (and yes, I’m using a Britney Spears haircut as a historical reference).
Jump to the bottom of the article for links to the other ‘Where are they now’ posts
BlueCat Networks
Where they were:
When we first met BlueCat Networks back in 2007, they already had a good thing going. The company was in their fifth year to market with revolutionary IP management services. The Toronto-based business had made a name for itself providing organizations with custom software solutions to manage “everything IP” from one simple platform – a major game changer. BlueCat’s revenue had grown by 1,219% from 2002 to 2006, earning them the 18th spot on the Deloitte Technology’s Fast 50 list in 2007. Business was booming and Red Canary was beaming with pride over their homegrown success.
Read the BlueCat Network article here.
Where are they now?
Today, BlueCat Networks is doing incredibly well and continues to dominate the IP market. The popularity of IP technology grew over the last five years making BlueCat’s services all the more in demand. A sixth version of IP (IPv6) was introduced in 2010 to keep up with the need for new addresses. BlueCat received an impressive amount of funding from Silicon Valley’s Trident Capital to facilitate the integration of the new version. The company has managed to maintain an extremely flat, startup-like structure throughout their growth. All 200 employees have CEO Micheal Hyatt’s cell phone number and everyone eats lunch in the same cafeteria. Bluecat Networks has grown in the right direction without compromising the pillars that have built their success.
Strangeloop Networks
Where they were:
Founders of Strangeloop Networks, Joshua Bixby, Jonathan Bixby, and Kent Alstad, knew they were on to something big when they got together back in 2007. They had dreams of becoming leaders in the “dynamic acceleration market” with their new web content optimization (WCO) company. The idea had come from watching businesses struggle to create a Web 2.0 experience without compromising their website functionality. Red Canary spoke with the guys from Strangeloop shortly after they had secured $11.5 million in private funding, one of the largest rounds of funding for a tech start up in Canadian history. It was obvious big things were in store for Strangeloop.
Read the Strangeloop Networks article here.
Where are they now?
Five years later, Strangeloop certainly has experienced big things. The company has been growing by 200% quarter over quarter as customers like eBay and Visa sing its praises. Word of Strangeloop has spread globally, and they are experiencing huge demand in Latin America, Europe and Asia. Despite all of the success, the company only consists of 40 employees. This was done intentionally to keep the team small and dynamic. Their management style seems to be working as Strangeloop has been named “Best Company to Work for in BC” for the last four consecutive years. It was also announced this past November that the company would be receiving $10 million in Series B funding from a second private investment group. It would be easy to predict that Strangeloop continues its boom well into the next 5 years.
Read Strangeloop Founder Joshua Bixby’s predictions for what other web space trends will make it big in 2012 on his blog Web Performance Today.
As predicted back in 2007, both BlueCat and Strangeloop Networks are wildly successful businesses today. Now, don’t go assuming that the secret to a successful start up is naming it a “Network”- the two have more in common then that. Both founders saw a need in the marketplace and struck while the iron was hot. As international investors continue to take notice, BlueCat and Strangeloop Networks are both testaments to the talent and success that the Canadian start up culture nurtures.
Previous posts
- Where are they now? Part III (Ecobee vs. Bullfrog Power)
- Where are they now? (Cherry Chula vs. ChickAdvisor)
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