Delphix appoints new CEO – but hasn't filled vacant CTO spot

Founding chief exec promoted upstairs to exec chair

Structured data copy virtualising startup Delphix has appointed Chris Cook as president and CEO, with founding CEO Jedidiah Yueh become executive chairman of the board. Why?

Cook has been president and COO of New Relic since September 2011, joining from CA where he held exec-level positions since 2005. He was a sales VP at Quest Software before that.

Delphix tells us it has been growing fast:

  • Increased revenue by more than 70 per cent year-on-year in its most recent fiscal year
  • New customer acquisition increased by 66 per cent year-on-year with more than 30 per cent of the Global 500 as customers across all major industries
  • More than 400 employees, and customers in over 30 countries on all continents
  • V5.0 of its flagship product added extended masking for sensitive data plus support for IBM DB2 databases and multi-node Oracle EBS deployments

Yueh’s canned statement indicated Delphix’s growth hasn’t been fast enough: "Although we've grown quickly over the last seven years, we've only scratched the surface of the opportunity. Continuing to scale at this level really becomes a matter of talent. Over the last few decades, Chris Cook has established a reputation as one of the top operating executives in the software industry, and we're looking forward to having him lead our team."

Two board members, Asheem Chandna and Chris Schaepe, partners at Greylock Partners and Lightspeed Venture Partners, respectively, also had a canned quote: "Delphix has established itself as the market leader in data virtualization. Chris Cook is a world-class leader and brings over two decades of enterprise experience to Delphix. We are delighted to welcome Chris to the company and look forward to seeing Delphix scale significantly under his leadership."

Translation: Delphix’s investors think it hasn’t grown enough, and can’t, unless there is a CEO change.

Also, Cook helped scale software analytics startup New Relic’s operations over four years to its IPO in 2014.


Delphix CEO and president Chris Cook.

His canned quote read: "When you walk into Delphix, you see the customer logos on the wall – a who's who list of companies that would be the envy of any enterprise software company at this stage. But when you peek under the covers and see the renewal and expansion rates – that's when you really see the power of data virtualisation and the potential for Delphix to be a very large company.”

Often a founding CEO becomes the CTO of the company they founded; not in this case. Adam Leventhal was Delphix CTO until he left in February this year, and no CTO is currently listed at Delphix.

The company, founded in 2008, has taken in $119.5m in VC funding with the last round being $75m in 2015. As exec chairman, Yueh will have a hand on Cook’s shoulder as he spends the money in scaling Delphix’s operations. It wouldn’t be surprising for Delphix to substantially scale up its sales and marketing organisations and broaden its sales funnel substantially.

Maybe there could be an IPO in 2018, or earlier if the company hits a $100m run rate before then. ®

Similar topics

Other stories you might like

  • Twitter founder Dorsey beats hasty retweet from the board
    As shareholders sue the social network amid Elon Musk's takeover attempt

    Twitter has officially entered the post-Dorsey age: its founder and two-time CEO's board term expired Wednesday, marking the first time the social media company hasn't had him around in some capacity.

    Jack Dorsey announced his resignation as Twitter chief exec in November 2021, and passed the baton to Parag Agrawal while remaining on the board. Now that board term has ended, and Dorsey has stepped down as expected. Agrawal has taken Dorsey's board seat; Salesforce co-CEO Bret Taylor has assumed the role of Twitter's board chair. 

    In his resignation announcement, Dorsey – who co-founded and is CEO of Block (formerly Square) – said having founders leading the companies they created can be severely limiting for an organization and can serve as a single point of failure. "I believe it's critical a company can stand on its own, free of its founder's influence or direction," Dorsey said. He didn't respond to a request for further comment today. 

    Continue reading
  • Snowflake stock drops as some top customers cut usage
    You might say its valuation is melting away

    IPO darling Snowflake's share price took a beating in an already bearish market for tech stocks after filing weaker than expected financial guidance amid a slowdown in orders from some of its largest customers.

    For its first quarter of fiscal 2023, ended April 30, Snowflake's revenue grew 85 percent year-on-year to $422.4 million. The company made an operating loss of $188.8 million, albeit down from $205.6 million a year ago.

    Although surpassing revenue expectations, the cloud-based data warehousing business saw its valuation tumble 16 percent in extended trading on Wednesday. Its stock price dived from $133 apiece to $117 in after-hours trading, and today is cruising back at $127. That stumble arrived amid a general tech stock sell-off some observers said was overdue.

    Continue reading
  • Amazon investors nuke proposed ethics overhaul and say yes to $212m CEO pay
    Workplace safety, labor organizing, sustainability and, um, wage 'fairness' all struck down in vote

    Amazon CEO Andy Jassy's first shareholder meeting was a rousing success for Amazon leadership and Jassy's bank account. But for activist investors intent on making Amazon more open and transparent, it was nothing short of a disaster.

    While actual voting results haven't been released yet, Amazon general counsel David Zapolsky told Reuters that stock owners voted down fifteen shareholder resolutions addressing topics including workplace safety, labor organizing, sustainability, and pay fairness. Amazon's board recommended voting no on all of the proposals.

    Jassy and the board scored additional victories in the form of shareholder approval for board appointments, executive compensation and a 20-for-1 stock split. Jassy's executive compensation package, which is tied to Amazon stock price and mostly delivered as stock awards over a multi-year period, was $212 million in 2021. 

    Continue reading

Biting the hand that feeds IT © 1998–2022