Speaker: In-Sik Rhee 10-04-06

From wiki

In Sik Rhee, Accel Partners; Chief Tactician and Co-Founder, Opsware, Inc.

• Watch Mr. Rhee's Lecture, "A Tale of Two Start-Ups (Kiva and Opsware)"
  
• Review Mr. Rhee's accompanying slides
  

Biography

In Sik Rhee has co-founded 2 successful startup companies and has developed technologies across a wide spectrum of domain knowledge – from end-user packaged software to high-end mission critical enterprise systems. In Sik self-taught software programming at the age of 12 and began developing commercial software as a 19-year old.

In Sik was most recently a co-founder and Chief Tactician at Opsware (NASDAQ: OPSW), formerly Loudcloud. There he played a diverse role - such as identifying and spearheading M&A projects, establishing new sales channels and regions, and highlighting new product opportunities by keeping abreast of emerging technology trends and categories in the enterprise market. Prior to Loudcloud/Opsware, In Sik co-founded Kiva Software Corporation, a pioneer of the J2EE Application Server market. There he architected and developed one of industry's first Java application servers, deployed by customers such as E*Trade and Bank of America. Kiva was acquired by Netscape Communications in 1997, and its product has evolved to become the Sun ONE Application Server. Prior to Kiva, In Sik was a Senior Software Engineer at Lotus Development Corporation, where he developed several versions of the Approach end-user database product for the Windows platform.

In Sik holds a B.S. in Electrical Engineering and Computer Science from the University of California, Berkeley, and is the recipient of the 2004 Distinguished Engineering Alumni Young Leader Award

Lecture Summary: A Tale of Two Start-Ups (October 4, 2006)

Mr. Rhee presented the tale of his two start-ups: Kiva, the first commercially available Java application server software, and Opsware, one of the fastest growing public enterprise software companies on the NASDAQ.

The Kiva Story
Even though there was not an established need for Java application server software, Mr. Rhee started Kiva to:
1) Build something from scratch and have a big impact
2) Capitalize on fortuitous timing
3) Perhaps experience financial rewards
4) Build a business when his personal risk was low

Convincing someone of a need that hadn’t previously existed proved difficult, and Mr. Rhee learned of the importance of new market evangelism. Identifying early adopters; sticking to the core audience; as well as employing rapid design and numerous iterations were keys to his success. Worldwide application server revenue skyrocketed from $0 in 1995 to $450 million in 1998, and finally to more than $2.2 billion in the year 2000. Kiva was one of the first movers in a big new market and betting on server-side Java turned out to be the right decision. Some early referenceable customers included ISN and E*Trade. Kiva was also the first to be acquired, starting a wave of consolidation.

Recipe for Success
Mr. Rhee ended his presentation with his personal recipe for success. He recommends that:
1) The team always comes first and is composed of a group of people with mixed skills. The team also strive for a common vision, and share a high level of trust.
2) A “problem worth solving” is clearly identified before focusing on the solution and that no time is wasted dwelling on a “secret sauce”.
3) One strives for flexibility and agility. Also, early trials and rapid iteration are key, but most importantly one should listen to customers.
4) The team work hard and enjoy the journey.