The Next Chapter: AppNeta To Be Acquired by Broadcom
by Matt Stevens Matt Stevens on

AppNeta To Be Acquired by Broadcom

By now, I’m sure you’ve heard the latest news – that AppNeta will be acquired by Broadcom! As I reflect on this momentous occasion, I can’t help but think back on the amazing, challenging journey that got us here.

We launched AppNeta in 2010 with a singular mission: bring network and end-user experience performance visibility to the enterprise with a sharp focus on operational insight into the minute-by-minute performance of business-critical applications across any combination of internal or 3rd party networks that delivered them.

Our unique (and patented) approach was able to look across any TCP/IP network and understand the true end-to-end performance of any application regardless of where it was hosted to any user regardless of where they were consuming that application. While this represented a very powerful value to enterprises who owned and ran their internal networks, the real magic happened when looking across 3rd-party networks where traditional infrastructure-centric approaches left IT blind as to what was really going on.

When we started, the enterprise journey into cloud and SaaS was pretty new and the early adopters were dominated by mid-tier firms who had projects that teased agility and scale in this new world of “not in my data center”. We were fortunate to partner with hundreds of these companies and we learned a lot in those early years - about our customer’s wants and needs, about the market’s direction, and most importantly, about ourselves as a company and our ability to adapt and thrive in a rapidly evolving space.

Without the help of some forward-looking and incredibly patient investors like Bain Venture Partners, Egan Managed Capital, and JMI Equity, we never would have made it through this first critical part of our journey. For this, we’ll be eternally grateful.

The learnings came together in the 2016-2017 time frame when we embarked on the next leg of our journey. An increasing number of large enterprises were embracing SaaS-based applications or embarking on their 2nd or 3rd major foray into a cloud-based world. The combination of the distributed nature of these businesses, the complex set of multiple networks that connected them, along with a rapidly expanding set of business critical applications set the stage for a perfect storm at the higher end of the market.

And that’s where we shifted our attention.

This part of the journey was greatly accelerated through a strategic investment from a PE firm that few had heard of back then, but is quickly emerging as the “hot ticket” for SaaS entrepreneurs looking to dominate their markets - Rubicon Technology Partners. Rubicon empowered us to more than double the size of our product development teams, triple our go-to-market capacity, and build out key areas of our customer success organization needed to address the needs of the world’s largest companies who had also become AppNeta’s largest customers by ARR.

Without Rubicon, our journey would have kept us pretty close to home the whole time. Their support, guidance, and trust enabled us to take chances and embrace the opportunity that lay before us. In short, the second leg of our journey could never have happened without them and we’ll always be forever grateful.

Today, I’m thrilled to share the next leg of the AppNeta journey:

AppNeta is going to be acquired by Broadcom!

Our mission and focus remains solving the toughest performance and network operations challenges for the world’s most distributed and complex networks. But when combined with the expertise of Broadcom’s proven leadership and the added power of the award-winning DX platforms, we’ll accelerate the value of both platforms, delivering unprecedented value in order to delight a world-class list of customers that is the envy of the entire industry.

Customers are our lifeblood - our source of truth and our north star for what comes next. Appropriately, we got to know Broadcom better when we were fortunate to add them to our growing list of customers. The more we talked, the more we realized the huge potential of our combined efforts, and thanks to the crisp and clear vision outlined to us by Serge Lucio and team, it became clear that this combination could indeed be that rare “1 + 1 = 5” level of partnership.

To say that we’re excited for what comes next would be a massive understatement. We’re ecstatic and can’t wait to bring our combined strengths together to the delight of our mutual customer bases.

Thank you

When I started this journey, I was heavily focused on customers and product, and I often ranked my priorities as 1) customers 2) the product and services we delivered to the customers and 3) the teams that empowered the execution and delivery of the product and services.

It took a bit - but I finally figured out that I had the order completely backwards. In order to “put your customers first” - you actually need to prioritize them last.

Wait - huh?

By always focusing on the TEAM first, then the product and services they build, sell, and support second, then you can always operate and grow knowing that your customers will have the best chance of success. That’s right - placing team members’ success first is the best way to actually consistently ensure the overall sustained success of your customers.

With that knowledge (and the change in our growth and success rate that came from it…), I must express my deep and heartfelt gratitude to the entire AppNeta team - both past and present. What you did when we were “figuring it out”, what you do today, and what we’ll continue to do tomorrow, has all culminated in a set of tremendous business values to our customers that has empowered them to reach levels of success they’ve never enjoyed before. Your belief and steadfast support of the “AppNeta way” of working together every day in the spirit of transparency, performance, and trust (TPT!) has been the secret sauce of AppNeta’s success!

To my first team, Larry Whitman, Mike Hustler, Amanda Bohne, Adam Edwards, Sean Armstrong, Eva Maloney, and Mike Mattei - this is actually the last part of this blog I’m writing because it’s the hardest to type. It may border on the inappropriate to use the word “love” in a business context, but after trying, no other word fits. I can never, ever, begin to express my deepest appreciation for your countless late hours away from your families, for every seemingly impossible task that you somehow managed to pull off, or the steadfast and forthright support you provided to your first teams, AppNeta in general, and to me.

To our customers - those that have been with us since the beginning (you know who you are, even if you don’t like me to say your names…), those that joined us along the way, and those who are about to learn what all the excitement is about - thank you. You challenged us, you supported us, and you called us out when we weren’t living up to our commitments. But more than anything else, you embraced us on your own individual cloud and SaaS journeys and we couldn’t be more proud to be your partner today and to become an even better one tomorrow as part of Broadcom.

Last, but certainly not least, I want to thank a nearly endless set of people that have supported us - and put up with me, on this journey. People like Jack Sweeney, Jim Melvin, Mike Shanahan, Andrew Lugsdin, and Jit Sinha - you all listened, coached (sometimes vigorously when it was needed) and helped us navigate. And then there’s Ben Nye, who both cared deeply about and helped to actively drive the success of AppNeta, but is also a personal mentor and friend to me - thank you Ben. In a similar vein, I also want to thank Tom Mendoza who was my boss and mentor oh so many years ago. Tom taught me so many lasting lessons (and still does …) that I’ve tried to live up to and pass along to others. Thank you, Tom - you’ve had a major impact on my life and that of my family. I know I’m not alone in that sentiment.

In closing, it truly isn’t about the destination, nor the journey - it’s really all about who you travel with. We AppNetians have been truly blessed with our travel partners and I can’t wait for the next leg of this journey.

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