“This is very exciting for us, not just because big data is a $50 billion market, but because its implementation will change the world”
patent he had created that could allow you to replicate data for a wide area network. David had just sold a business and exited, realising pretty quickly that what he was hearing was groundbreaking stuff. “The idea for WANdisco came from that very meeting - between listening to an inventor speak about this unbelievable technology teamed with my vision to see its potential.”
Today, WANdisco’s software is used by over five million businesses globally, including a host of Fortune 1000 companies such as Disney, Merrill Lynch, Hewlett-Packard, Cisco and Walmart. In 2012, the company was floated on the London Stock Exchange and was oversubscribed by more than 300 per cent – raising £15m and valuing the company at £37m. Since then the share price has leapt from 180p to 570p and the valuation to £125m. And despite phenomenal success David has stayed true to his British roots, employing 60 people in his hometown of Sheffield and a further 10 in Belfast. Equipped with a game-changing product and what David believes is a uniquely motivated UK workforce [“Intel told me that our UK team provided them with the best support they had ever had from a software product,” he tells me] WANdisco has huge plans for a world now dependent on big data. “We currently have two products. The first is a development tool that enables software engineers spread across the world to collaborate efficiently by ensuring data is always available to them – it’s powerful stuff. A big company might have 50,000 engineers in all different locations and they can lose a lot of money if this system breaks down – NatWest being a recent example.
“The second thing we do is data play. We acquired a big data software firm called AltoStor last November and it was the best acquisition I’ve done in my career at $5 million.” AltoStor’s founders are also the creators of Apache Hadoop, a big data technology that is managing the databases of Yahoo, Facebook, Netflix, Amazon and eBay. WANDisco’s acquisition of AltoStor, David tells me, will enable the company to launch products quickly into the big data market. “This is very exciting for us, not just because big data is
10 entrepreneurcountry
a $50 billion market, but because its implementation will change the world. Big data means that you can do things like analyse the NHS database and find a correlation to discover the causes of cancer. Or you can figure out why your GP tells you to take two tablets 4 times a day and whether that is the right thing to do when everyone has different drug tolerances. Big data will provide solutions for these types of issues – and we want to play a part in that.”
With a bright future ahead for what has now become one of Britain’s most successful technology companies, what did David attribute to be the key to his success so far? “We’ve executed,” he says simply.
“For example, people
tell you floating a business is hard, but it’s not if you execute constantly. We are growing really quickly and it is because we are so focused on execution. We’re always working to stay one step ahead and develop new products based on what the market needs.”
“Also, too many people are scared of disruption but I believe when you see room to disrupt you have to jump on it very quickly and try to get into those markets as early as possible. Big data is one of those markets and too often I see people with good ideas who stall and won’t attempt to get involved and sell their product.”
On that note, what advice did David have for start-ups applying themselves in a similar space? “My advice would be if you see an opportunity, take it. In the early stages you don’t need to raise capital so quickly. Focus on the market you are trying to enter and on the nuts and bolts - don’t worry about what investors want to focus on.
“Also, as a start-up you need to raise smart money at the right time and from people who understand what you are doing – people who aren’t going to drag you in different directions. Don’t be tempted to present something that people want to hear and get a smart investor who understands what you are trying to achieve.”
Despite his encouragement for UK start-ups, David is keen to stress that Britain’s entrepreneurial ecosystem is in need of some work, and that it has a way to go before manifesting the same type of culture that he has witnessed in the Valley over the years. How did he see the UK improving?
“I’d like to see entrepreneurs come together to create opportunities for other entrepreneurs. I attended Tech London Advocates recently and that was excellent – it was such a joy to be with the who’s who of UK technology. It’s great to be a part of something dedicated to supporting UK tech companies, a big sector but a sector where there’s still lots we can do to encourage growth.
“I’d also like to see people who don’t wait for government to give them a handout and genuinely want to do something. I think the sentiment around London’s Silicon Roundabout is good although I think the name needs to change to reflect the bold ambitions it has and the great things that it can
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