Sources: Good Know-how Axes Additional Than 100 Jobs
Based mostly on a variety of sources, Good Know-how, a corporation that sells mobile system administration suppliers, has laid off higher than 100, and perhaps as many as 100 forty of its staff. According to LinkedIn, the company has higher than 1,000 employees, making it an enormous low cost to its workforce, if the rumor is true.
Good Know-how filed for a $100 million IPO in May of ultimate yr. Its financial information on the time confirmed a corporation with shortly rising revenue, and losses. Its cash present was not notably extreme as compared with its web losses, which made the timing of its offering reasonably priced — the company was looking out for capital.
Its IPO was delayed, caught within the equivalent vortex that pushed Subject to delay its offering. Good Know-how raised $eighty million additional from private markets in September.
According to the most recent agency filings from December nineteenth remaining yr, revenue was up and product sales and promoting spending remained flat, all good indicators for the company. Truly, an enterprise provide suggested TechCrunch that this layoff was not about revenue, nevertheless what this particular person known as “investor correct-sizing.” In several phrases, although that that they had an excellent quarter, the consumers actually really feel the company should run leaner going forward.
One potential purple flag, however was the cash amount inside the latest submitting. Whatever the cash influx in September, the paperwork confirmed merely $38.9M cash obtainable.
Good is part of the mobile system administration market (MDM), which is supposed to help firms protected cell telephones at a time when employees are bringing their very personal models to work, a improvement that has been labeled BYOD. The capability to hint these models is notably vital as employees do various personal and work duties on the equivalent phone, making it all the harder and important that organizations work out a way to protected them. That’s the place MDM devices can be found.
Good’s rivals embrace the likes of MobileIron and AirWatch. It’s worth noting that there was various consolidation on this space over the ultimate couple of years, starting when Citrix bought Zenprise in January, 2013, adopted by IBM grabbing Fiberlink in November that yr and VMware shopping for AirWatch remaining January. In response to IDC, MobileIron and AirWatch are the massive canine on this space, with Good, Citrix and IBM inside the second tier.
It’s needed to remember once more when BlackBerry dominated the enterprise pre-2010, this was BlackBerry’s world and everyone else was secondary, nevertheless they’ve dropped correctly once more inside the pack now, based mostly on IDC.
In keeping with a provide with an unimaginable deal info of the enterprise mobile market, Good was strong between 2007 and 2010, notably in financial markets, and had success going up in the direction of BlackBerry when firms began shifting to iOS, Android or House home windows telephones. This provide suggests they’re slipping, and dropping an entire lot of accounts correct now (which could account for layoffs).
In a protracted assertion emailed to TechCrunch, a Good spokesperson did not deny the layoff rumors, nevertheless neither did she reply on to the question.
Proper right here is Good’s response to our inquiry:
“2014 was Good Know-how’s strongest yr in its historic previous. We delivered additional innovation than ever sooner than, we set the framework for Good Dynamics to show into the de facto commonplace cloud-based mobile platform inside the enterprise and significantly grew our purchaser and affiliate base. As Good continues to develop all of the issues from revenue and market share to turning right into a cloud-based SaaS agency, we’re laser focused on profitability. With our product strains shifting to the Good Dynamics platform, we’re delivering world-class mobile security choices and turning into additional surroundings pleasant. In consequence, we’ve under no circumstances been larger positioned as a result of the chief in protected mobility and are persevering with to ship revolutionary choices to market that fortify our administration place.”
Good has raised over $293M to-date over 6 funding rounds, in response to Crunchbase. The company has moreover made eight acquisitions along with three ultimate yr as a result of it tries to put itself to compete with the other players inside the space.
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