Naeem Zafar teaches entrepreneurship and innovation as part of the faculty of the Haas School of Business, University of California Berkeley, and is the founder of Concordia Ventures. He is also a charter member of TiE Silicon Valley. Here is his review: “Vision India 2020 is unlike any other book that I have ever read.
SM: What was Fortinet’s revenue last year? KX: We had $250 million in revenue. We are as large as NetScreen was when Juniper acquired them.
SM: What was your per-share price for your C round? KX: Sequoia came in at $3.50. One of our investors introduced us to Sequoia. They became interested in us once we won the head-to-head evaluation against Cisco.
SM: Knowing you have a two-year run up front provides a lot of security. KX: It was. When we started NetScreen, the largest hurdle we faced was credibility. Even though we had a prototype developed, when we went out to raise money we did not have credentials behind us. We did not have business experience.
SM: How were you living if you did not make enough money from Stanford Systems? KX: I also worked full-time jobs. My wife grew up here in Berkeley. I had a family, and I needed to make sure that I made a living. I made good money with consulting. The startup is great, but I
SM: How long did you stay with the PC company doing network installations? KX: I was there for one year. I jumped around quite a bit, and sometimes I was working for multiple companies at a time. The second year I was in a grant program at Stanford. The electrical engineering program is very difficult
Ken Xie started his first network security company, Stanford InfoSystem, Inc., in 1993. A few years later, he realized the performance limitations of a software firewall and started NetScreen. NetScreen later was acquired by Juniper for $3.5 billion. At the end of 2000, Xie founded Fortinet, which pioneered Unified Threat Management (UTM). Ken earned his
SM: Why did you list in China instead of Hong Kong? JW: The main decision was made by the CEO and CFO. Since I did not make the decision directly, I cannot say what were the final reasons for choosing the Chinese markets over the Hong Kong markets.