Brief History
There are a few sound principles to adhere to when
starting a venture backed business — in almost
every scenario this is a difficult adventure with
the potential for drastic highs and lows. Your ability
to follow a framework and to maneuver quickly within
it greatly increases your chance of success.
GeoTrust is a case in point. Founded in 1998, GeoTrust
spent a few years following the get big quick scenario
of the technology boom focusing on the B2B exchange
market. As the boom times evaporated, the original
vision of the company was in need of revision. With
committed investors and some faith — the company
was restarted in March of 2001 when Neal Creighton
was brought in as CEO from Equifax. The business strategy
was changed and the organization was revamped. With
the support of St. Paul Venture Capital, GeoTrust
acquired the Equifax Security business and its employees
in September 2001. With a handful of original GeoTrust
employees, numerous Equifax employees and the uncorked
Equifax security business, the company chartered a
new course to become a dominant player in the information
security market.
Within months GeoTrust was a viable company with
tens of thousands of customers and an additional 21
million in venture money primarily from St. Paul Venture
Capital and Prism Venture Partners. Within the first
year GeoTrust captured over 15% share in the lucrative
transaction security market and became a leading provider
of enterprise security services for companies like
IBM, Equifax, BellSouth and Aegon. Today GeoTrust
has over 70,000 customers, 2000 resellers and conducts
business in at least 140 countries. The company has
a worldwide brand and phenomenal growth proving that
great organisations can be created in down markets.
In May 2003 we launched our International expansion
by opening regional headquarters in Japan, and August
2003 has seen the launch of GeoTrust Europe with regional
headquarters in the UK. With our enhanced ability
to service local markets with localised expertise,
resources and support centres, our position as a truly
International security services provider grows in
strength every day.
What's Next? Wait and see...
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