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“this is the end…my friend…”*
November, 1991. The company’s Initial Public Offering of its common stock was a rousing success. Everyone in the company was holding his/her head up high. The stock price seemed to reach new heights every week. Sales were hitting record levels, backlog was building, manufacturing was hustling. The air was thick with optimism. Anything seemed possible. Continue reading
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five years after the founding – ipo time?
June, 1991. Wellfleet marked its five-year anniversary since the closing of the founding funding. We had a large outdoor celebration with most of the company’s employees in attendance. A lot of beer flowed, plenty of food was devoured, and the atmosphere was a mixture of satisfaction and anticipation. We had a lot to celebrate – Continue reading
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new york, new york – bear, bell, and the bouncer
The center of commercial activity for the nation has been New York City since the completion of the Erie Canal in 1825. By then, New York had surpassed Philadelphia in imports and exports, but the center of banking was the Second Bank of the United States chartered in Philadelphia in 1816. Being the only federally Continue reading
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growing pains
An unexpected consequence of enterprise networking in the early 90’s was the emergence of private international data networks. An investment bank in Zurich required access to data held in their offices in Manhattan. Stock traders in London needed access to accounts in Milan. Remember, there was no Internet as we know it today. Routers purchased Continue reading
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“the world’s greatest face-to-face salesman”
Even given the optimism exuded by our southern flank, the fact remained that sales remained difficult owing in no small part to the propaganda emanating from our principal Left Coast competitor. Today we would call this campaign one of spreading “misinformation”. Cisco launched its IPO in February, 1990. The stock increased in value from the Continue reading
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sales growth – the southern view
Bringing Gary Bowen on-board as the Vice President, Sales & Marketing, proved to be a seminal milestone in Wellfleet’s evolution as a leading player in the router market. He had come from Masscomp, a Westford, MA based manufacturer of engineering workstations that competed with products from Apollo Computer, Sun Microsystems, and Digital Equipment. Gary had Continue reading
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early promotion – “geeks by the bay in monterey”
The first public appearance of our products was at the Comnet trade show in Washington, D.C. in January, 1988. As the recently anointed Chief Technology Officer, I was shipped off to the event with the marketing folks. It was an inauspicious beginning as we attempted to demonstrate the products in a modest operational setting. It Continue reading
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wellfleet crosses the atlantic
Jeff Lindholm joined Wellfleet in early 1989 as Director, International Sales. Jeff wrote an excellent, comprehensive business plan designed to introduce Wellfleet to international markets starting in Europe. Unlike the U.S. market, Jeff had identified several European distributors who were competent and capable of selling our products. Most were focused on specific countries, so Jeff Continue reading
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direct sales – “cisco killers”
The direct sales operation officially launched in the spring of 1989 with the hiring of Ben Minsk by Paul Sylvia to augment our efforts in the Eastern Region of the U.S. Ben was a perfect fit for Wellfleet – he was highly motivated, eager to learn about the products, and was relentless in his pursuit Continue reading
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the early adopters
Every startup technology company has a set of customers willing to assume the risks of purchasing products from them. Geoffrey Moore terms them “early adopters” because they aspire to be among the first to explore the costs and benefits of new technologies. In Wellfleet’s case, we were offering a new product category, one that the Continue reading
About Me
I am an electrical engineer, a founder of three successive, successful data communications companies – Interlan, Wellfleet Communications, Agile Networks – from 1981 through 1997. Find me on LinkedIn, https://www.linkedin.com/in/william-seifert/
