Profits and Prophets: May
From May 2006
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Seriously Low Profile
By Art GarciaMost companies revel in publicity, but not the management folks at Serious Magic Inc., especially when it comes to finances and funding. As an inaugural Baby Blue Chip company (Prosper, April 2005) it was flagged as a potential regional winner.
Mark Randall, president and chief product officer of the five-year-old software company, told the Sacramento Bee that SMI’s major source of funding came from the Mayfield Fund, a Menlo Park venture-capital firm.
SMI had effectively put a lid on its funding sources to keep competitors in the dark. “It’s a practice of this company to be as low profile as we can,” says Bob Crist, who was named CEO when Serious Magic completed a reorganization in March 2005. Randall, a company co-founder, stepped out of the CEO role, and Crist stepped up from CFO, a position he’d held since joining Serious Magic in April 2004.
“We’re not members of the Sacramento Area Regional Technology Alliance, and we don’t do a heck of a lot of local, particularly business, exposure,” Crist says. “And as a private company, we really have no obligation to do so.”
Hide-and-Seek?
Continued...
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