Track Record

In our first dozen years, over 90 startups have graduated from TEN, including eBay, iPrint, Xros, Vertical Networks, Right Works, Intruvert Networks, Tukaroo, and Sensant. To date, 27 of our graduates have exited through IPO or M&A. $80 billion in market cap and thousands of jobs have been created by our companies. We are proud of our past and believe that TEN’s best days lie ahead in helping to launch innovative companies.

TEN’s Record in Supporting Startups

Since beginning in 1993, TEN has housed about 350 companies physically in its facility. Of these companies incubated, 96 have graduated from TEN, which means that they received sufficient venture funding or gained sufficient customer sales to proceed on their own, without the support of TEN. These graduate companies are shown in Table 1.

Many of the companies shown in Table 1 are still in operation, and some have ceased operations, particularly after the severe economic downturn following the Dot Com era. Of these graduate companies, 27 have had a financial exit, as shown in Table 2.

TEN and ATCC Companies Achieving a Financial Exit

Company IPO M&A M&A With Value at IPO/M&A   1997       1 Virtual Time Software   Nematron Undisclosed 2 Interval Logic Corp   PRI Automation $8 million 1998         3 eBay NASDAQ   $2.0 billion 4 ConsenSys Software   Augeo (France) Undisclosed   1999         5 ASL Technology   Rambus Undisclosed 2000         6 Xros   Nortel Networks $3.25 billion 7 Acuity Research   Schmitt Industries Undisclosed 8 Simplex Solutions NASDAQ     $332.6 million 9 Snaketech   Simplex Solutions Undisclosed 10 Angara Database Systems   Personify Undisclosed 11 iPrint NASDAQ     $45 million   2001         12 PocketMail.com   Pocket Mail Group Undisclosed 13 Redcreek Communications   Sonic Wall Undisclosed 14 Aviatis   R-Objects Undisclosed 15 Simplex Solutions   Cadence $300 million 16 Rightworks   I2 $114 million 17 Angara Database Systems   Personify Undisclosed   2002         18 Kickfire   TEEC (UK) Undisclosed 19 Paraform   Metris Undisclosed   2003         20 Boxer Cross   Applied Materials Undisclosed 21 Intruvert Networks   Network Associates $100 million   2004         22 Vertical Networks   Artisoft $19 million 23 Interactual Technologies   Sonic $8.8 million 24 Stream Theory   Tadpole Technology Undisclosed 25 Tukaroo   Ask Jeeves Undisclosed 2005         26 Photonic Power Systems   JDS Uniphase Undisclosed 27 Sensant   Siemens Undisclosed

Viewing the results overall for companies supported at TEN, approximately 1 in 4 companies that join TEN achieve a level of success that enables them to proceed on their own and to be categorized as a TEN graduate. Eventually, approximately 1 in 3 companies graduating from TEN achieve a financial exit through IPO or M&A. While we are working to improve our capabilities and track record in supporting startups, we believe that our statistics to date are reflective of a sound track record in supporting Silicon Valley's high-tech startups.