insane success of the Utah tech market--and it is a wild and incredible success (I'd argue one of the most unlikely and incredible economic success stories of a region in US history)--the story of Inside Sales.com is truly baffling.
- They were one of the tentpole tech companies in the early days of Silicon Slopes. Massive growth, insane valuations, one of the first Utah unicorns. They were the HOT company to work for in the 2012-2014 range
- Got over $250M of funding during it's lifespan
- Had offers from SFDC to buy the company for around $1B at various points, but turned them all down for the dream of something bigger (a multi-billion dollar IPO)
- Had a less than cordial split from their Founder and longtime CEO
- Had wave after wave of layoffs. If you work in the Utah tech scene you know someone who was laid off by InsideSales.com at some point.
- Universally understood as not a good place to work--meddling from Sr Execs and Founders, constant fear of getting let go, a culture of 'churn and burn' with money and employees. Again, if you work in the Utah tech market you know people who have horror stories from their time there.
- Waves of layoffs continued
- Changed the name, rebranded, hired new CEO...and within 18 months were sold for parts for (rumors are) around $25M
It's a cautionary tale for about 100 different reasons.
Anyway, maybe I'll write the book.