QlikTech holds its first Analyst Day in New York
Tom Paine
Radnor-based QlikTech, the rapidly growing Business Intelligence software vendor that went public in the summer of 2010, went to New York this past Thursday to hold what it called its first annual "Analyst Day" for people in the financial community who follow the company ( Listen to Webcast). Any quant jocks just there simply hoping to update their spreadsheets might have been disappointed, as there was barely a mention of QlikTech's financials except for CFO Bill Sorenson reaffirming the 4th quarter guidance the company issued in late October (full year revenue of $315.0 million to $320.0 million, same bottom line guidance). He did, however, suggest the possibility of some uncertainty in Europe, where 56% of its revenue comes from.
What the presentation was about was the product and market, and I have to admit
that it was a very polished and powerful message, whether or not you buy the whole pitch. It is worth listening to just for learning how to give better presentations. QlikTech CEO Lars Bjork started off by comparing the company's core principle to innovators Google, Apple and Salesforce.com: simplicity, with depth. Bjork sees the "traditional" BI market, estimated at about $9 billion per year, as addressing only a small number of heavy users in mostly the large enterprise market, plus some penetration of mid-sized and small enterprises. The rest of the market is largely undeveloped, he said.
Newly named Vice President of Product Management and leading BI evangelist Donald Farmer, who joined QlikTech early this year from Microsoft, focused on the 28% penetration of potential users reported by Gartner, a figure he says has gone unchanged for many years, and talked about how QlikTech is working to change that with a solution that is mobile, social, and personal. Chief Technology Officer and Senior Vice President, Products Anthony Deighton compared what he calls BI's traditional, IT-driven and top down BI model with limited report flexibility to QlikTech's associative, user driven and dynamic real-time model. Its key technologies are its in-Memory processing (combined with data compression) and user interface. Deighton described in-Memory technology, which processes chunks of data in memory rather than from disk, as the enabler, not the end goal in itself, of QlikTech's product strategy.
COO Les Bonney summarized the major points of QlikTech's go to market strategy: Rapid Time to Value (quick initial deployment), Balanced (diversified) Business, Land and Expand (start small within enterprise and grow), Love Every Lead, and Customer Success. Bonney emphasized that Qliktech is getting more large contracts from major enterprises, and is also getting a boost from its relationships with some of the big systems integrators. QlikTech relys on its partners to reach much of the middle market, and an inside sales group to serve smaller customers. One partner who presented was Business & Decision, a large BI consulting firm with its US headquarters in Wayne.
QlikTech's market value is currently just over $2.1 billion. It went public in July 2010 at $10 per share, and has traded as high as $35. Today it was at slightly over $25. Revenue growth has continued in the 50% range, though some have questioned a lack of short-term emphasis on profits. I think the point of QlikTech's presentation was to show how big a market opportunity the company believes is in front of it.
QlikTech just announced the general availablty of it latest version, QlikView 11.
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Comcast CFO Angelakis named Vice Chairman
Tom Paine
Comcast EVP & CFO Michael Angelakis now has the title of Vice Chairman, according to an SEC filing by the company today.
His new contract extends his terms of employment through 2016. While Angelakis' base salary and annual bonus potential (up to three times annual base compensation) remain the same, he will receive signing bonuses in excess of $4 million. The filing says the agreement "continues the structure of Mr. Angelakis’ prior employment agreement of crediting contributions to the Company’s deferred compensation plan", although its not clear right now if the amounts involved change from his previous arrangement. Angelakis' base salary in 2010 was $1,682,448 and his total compensation was almost $23 million, according to Comcast's Proxy statement (pdf).
Angelakis joined Comcast in 2007 from PE firm Providence Equity Partners.
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Daily Links 11/23/2011: SAP places PR Account up for review; Comcast raising prices
SAP PR Review Puts Burson-Marsteller On Alert (The Holmes Report)
SAP CIO predicts in-memory HANA will replace relational databases
(computing.co.uk)
'Tis The Season for Another Comcast Rate Hike
Comcast Rings in New Year With Significant Increases (Broadband Reports)
Why Microsoft bought VideoSurf for $70 million (Gigaom)
Daily Links 11/22/2011: Is Netflix's development arrested?
Has Netflix overextended itself? (Gigaom)
Netflix’s development has been arrested
Analysis: Video rental giant faces even more reprogramming ahead (Marketwatch)
iPad, Xoom Get First Crack at Comcast's AnyPlay (Light Reading Cable)
What Will Comcast Charge to Get Live TV on Tablets? (Multichannel News)
Comcast shows off its new 'Barcelona' HD guide upgrade (Engadget)
AppMobi open sources its mobile HTML5 technology (Gigaom)
AppMobi is based in Lancaster.
Software Vendor Says Partnership With SAP Led to Stolen Trade Secrets (PC World)
Remember, IP plaintiffs: Always file in the U.S. District Court for the Southern District of Texas.
UT partners with SunGard, research safe way to file-share (Daily Texan)
Keeping quiet about the public financing for the Inquirer and Daily News (NewsWorks)
FCC Says AT&T, T-Mobile Merger Diminishes Competition, Recommends Hearing
(Mashable)
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Daily Links 11/21/2011: Will SAP buy Jive?
John Malone's Liberty Interactive Keeps Options Open on HSN (Hollywood Reporter)
Liberty Interactive owns QVC, and 34% of HSN.
DirecTV Plans to Cut Back on Spending, Hiring to Prepare for Any Slowdown (Bloomberg)
Comcast goes full-footprint with Dory gateway (CED Magazine)
NBC News announces changes to technology, social media staff
(Poynter)
OVER 635,000 ADD BROADBAND IN THE THIRD QUARTER OF 2011
77.8 Million Get Broadband from Top Cable and Telephone Companies (Leichtman Research Group Press Release)
SAP to buy social networking company Jive? (Computerworld UK)
On the Move, in a Thriving Tech Sector (New York Times)
AT&T developing a home energy service (Gigaom)
The Smart Grid: What's our next move? (Boston Globe)
Discusses Viridity Energy of Philadelphia.
Experts say industries in the Mercer area should consider benefits of collaboration (Times of Trenton)
On Central New Jersey's Einstein's Alley
organization.
HRM extending its growth
Company makes specialty of pharmaceutical marketing (Cincinnati.com)
Also has growing Lawrenceville office.
Panel OKs $500,000 grant to help IT firm add 250 jobs
CAI also gets money to expand Newark center (Wilmington News Journal)
Philly Tech People News 11/20/2011
Recently retired ADP CEO arrested a few days before Nov. 9 retirement announcement (Washington Post)
Key NBC executive Marc Graboff to leave the network (LA Times: Company Town)
NBCU Taps John Shea As EVP, CMO of E&DN/IM Division
Exec Strikes First-Look Development Deal As Part Of His Hiring (Multichannel News)
NBCU Expands Digital Research With Hiring Of Gibs
Former Nielsen Exec To Head Lead Reseach For NBCU's Entertainment & Digital Networks, Integrated Media Unit (Multichannel News)
Cable-Tec Expo: SCTE Board Names LaJoie Chairman
Engineers' Group Elects Slate Of Officers At Atlanta Gathering (Multichannel News)
The SCTE is based in Exton.
Liberty Interactive Corporation Announces Management Changes (Business Wire)
Liberty Interactive is the parent of QVC.
The Judge Group CEO Honored by Local Technology Nonprofit (Business Wire)
MTI Appoints DePinto Vice President, Strategic Services
(Business Wire)
Petplan Pet Insurance Names Chuck Virtu as Director of Information Technology (PR Web)
Kate Gomulka joins MayoSeitz Media as Emerging Media Specialist (Philly Ad Club News)
DEDO adds more job-chasers (Delaware Online: Delaware Inc.)
Fun Fact of The Week: Path to Revenues (Josh Kopelman/Redeye VC)
3Q11 Was a Solid Quarter for our SaaS Portfolio (Enterprise Irregulars)
CNBC's Jim Cramer interviews Airgas CEO
Peter McCausland (CNBC Video)
Discusses progress of Airgas' $200 million SAP implementation, among other things.
What Microsoft, Oracle, IBM, And SAP Don't Tell Customers (Silicon Alley Insider)
Daily Links 11/18/2011: Clearwire shares plummet on default fears
Urban Outfitters Losing Investors With Failing Fashions (Bloomberg)
ACS Transit nets $130M SEPTA fare-system upgrade (Philadelphia Business Journal)
Salesforce Tumbles After Billings Miss Analysts’ Estimates (Bloomberg)
‘Sup with SAP? (Gigaom)
Some possible SAP acquisition targets.
Site Tracks 'love,' 'hate' of SAP, Oracle and Other Software Vendors (PC World)
Motorola Mobility shareholders vote yes on a buy-out by Google (VentureBeat)
Cable-Tec Expo: SCTE Lures More Than 10,000 To Atlanta Confab
Attendance Up 24% from Last Year's Event in New Orleans (Multichannel News)
Can cable take the lead on social TV? (Fierce Cable)
Q&A: How Comcast is adjusting to our changing TV habits (GeekWire)
Interview with Tom Blaxland, senior director of product management for Comcast Interactive Media.
Clearwire shares plunge 31 percent on default fears (Reuters)
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Daily Links 11/17/2011: SAP co-CEO Snabe's comments reignite acquisition speculation
SAP Aims to Enter New Product Categories, Snabe Says (Bloomberg)
Comments spur new round of acquisition speculation. My recollection is that the last time Snabe started talking about big acquisitions, Sybase was announced shortly thereafter.
SAP co-CEO talks new product areas, in-memory computing (Computerworld)
Localisation is not the problem facing SAP - boosting take-up is
(Dennis Howlett/CloudPro)
Salesforce Drops 6% After Hours On Earnings Miss (Silicon Alley Insider)
Starz and Liberty Capital merged (Variety)
Liberty Capital's holdings include TruePosition of Berwyn and the Atlanta Braves.
Philly Fed Manufacturing Index Slips (Wall Street Journal: Real Time Economics)
Philly Fed's Press Release
Connexin Software, Inc. Receives Strategic Investment from Bluff Point Associates; Deal Will Accelerate Growth and Leadership Position of Pediatric EHR Software Provider (Business Wire)
Safeguard Scientifics Leads $7M Series a Financing for Medivo
New York-based Healthcare IT Company Leverages Clinical Data to Improve Health Through Faster, Easier Access to Lab Testing and Actionable Information (Business Wire)
ICW Announces Improved Networking Solutions for Patient Identification and Data Sharing (Marketwire)
Monetate Launches National Search for Top Engineering Talent
Philadelphia Technology Company Offers $2,000 Referral Bonus for Hired Engineers (PR Web)
AppLabs founder Reddi back on startup scene in Phila. (Philadelphia Business Journal)
Please Turn On Your Cell Phone: Comcast's Fandango Embraces Mobile Movie Tickets (Mashable)
Philadelphia Media Network goes to Saxotech for 400-seat deployment (News & Tech)
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