David Schneider helped scale Data Domain from $0 to $1B revenue
“I spent almost nine years at a company called Data Domain, where I joined at zero dollars in revenue, and by the time I left, we'd gone through an IPO, took it to about a billion dollars, and then we got acquired by EMC in a hostile acquisition in 2009.”
Schneider: Data Domain had $550M revenue and 75-80% margins at acquisition
“Yeah, but imagine buying a company at the time, five hundred and fifty million in revenue, 75, 80% margins for two billion dollars.”
Schneider: Data Domain reached $2B in revenue two years post-acquisition
“That company inside of EMC, we drove it to a billion that first year, and two billion dollars in the second.”
Schneider: Data Domain spent its first year selling a paid beta
“The first year we didn't have the right product. We had an initial product that I almost would refer to as a paid for beta.”
Schneider: Data storage buyers prioritize fast data recovery over backup
“It's not about the backup guys. It's about the recovery. It's about how fast can I recover this data so I can do my job and not get in trouble if something is corrupt.”
Schneider limited ServiceNow management reviews to three green and three red items
“When I led the review of any portion of ServiceNow or Data Domain, I started with the three things that were working, that were really green, and the three things that were red. If somebody wanted to help me on something in the red, be my guest. But if you wan…”
Data Domain returned $2.4B to shareholders on just $28M in net capital
“Data Domain took in twenty-eight million dollars of net capital and six years later returned 2.4 billion dollars to shareholders.”
Data Domain's 2009 exit exceeded its next ten competitors combined
“We were a bigger exit, and then the 10 next, the next 10 competitors combined, all this kind of stuff”
Slootman: Data Domain had zero revenue and 15 employees when he joined
“That was, they had no revenue, no customers, nothing. There were 15 people there.”
Slootman: Data Domain generated $3M in revenue during his first year
“So we stayed alive and we did do that three million dollars that first year.”
Slootman: Data Domain had no revenue or customers when he joined
“When I joined Data Domain, I had no idea what I was getting into. I mean, there was no revenue, there were no customers, there were 15 people”