Pure Software was founded in October 1991 by Reed Hastings and Mark Box. The original product was a debugging tool for Unix/C engineers called Purify. After adding new products such as Quantify and PureLink, and doubling its revenue every year for four years, Pure Software went public with the help of Morgan Stanley in August 1995. In August 1996, Pure Software merged with Atria to form Pure Atria Corporation. Later in August 1997, Rational Software acquired Pure Atria, giving Hastings the capital to start Netflix.
When Pure Atria was acquired by Rational Software, it triggered a 42% drop in both companies' stocks after the deal was announced. Hastings was appointed Chief Technical Officer of the combined companies and left soon after the acquisition. "I had the great fortune of doing a mediocre job at my first company," says Hastings. "We got more bureaucratic as we grew." After Pure Software, Hastings spent two years thinking about how to avoid similar problems at his next startup, Netflix.
Other articles related to "pure software, software":
... was at Adaptive Technology, where he invented a tool for debugging software ... left Adaptive Technology in 1991 to found his first company, Pure Software, which produced products to troubleshoot software ... was when Morgan Stanley took the company public in 1995." In 1996, Pure Software announced a merger with Atria Software ...
... After selling Pure Software and making a fortune, Hastings found himself without a goal ... In 1995, after Hastings' company Pure Software was acquired for $750 million two years later, his personal wealth allowed him to pursue his passion for school reform ... "After Pure Software, I had a bunch of money, and I didn't really want to buy yachts and such things," said Hastings ...
Famous quotes containing the word pure:
“Im telling the truth.
Im standing at deaths door
and even today
my sight falls
on that thicket
on the Tpts pure banks,
just as before.”
—Hla Stavhana (c. 50 A.D.)