ࡱ> ),*g4QdQd 0XNppp@  <4BdBd? %, SIPA Presentation Pavan Nigam How the Internet Changed my Life!!  Netscape Ebay Healtheon Background Founded in 1996 by Jim Clark and Pavan Nigam Business Plan - Connect everyone in $1.2 Trillion health-care industry and make some money in TBD fashion R1.0 (96-end) connected employees, employers & plans ahead of the curve, limited success initial euphoria leads to despair Recruited CEO (Mike Long) in mid-97 R2.0 (98-end) connected providers, labs and plans visio( / 0LDTimes New RomanȷȷԳ0 0  @n?" dd@  @@`` Hc $@g4QdQd 0XNppp@  ? %R How the Internet Changed my Life!!  Healtheon Background Founded in 1996 by Jim Clark and Pavan Nigam Business Plan - Connect everyone in $1.2 Trillion health-care industry and make some money in TBD fashion R1.0 (96-end) connected employees, employers & plans ahead of the curve, limited success initial euphoria leads to despair Recruited CEO (Mike Long) in mid-97 R2.0 (98-end) connected providers, labs and plans vision update rallies company real and significant revenues Oct 98 IPO attempt unsuccessful due to market conditions R3.0 (mid-99) simplifies offerings as consumer & provider portals finally every employee can recite the Healtheon elevator-pitch Highly successful IPO in Feb/99 ($2.5B company on opening day) Announced $7B acquisition of WebMD on 5/99 Market cap of Healtheon/WebMD has moved within $7B-$26B range FV<{?j?FV<{?j=, "Lessons Learnt Constant assessment and refinement of Business Plan is important Real test of Leadership is during the down times loyalty is key (employees, customers, VCs) It s never too early to acquire Domain expertise A True Internet company s growth has to be tied to the Internet s growth It is easier to migrate an installed base than to acquire new customers A revenue-enhancing value proposition is easier to sell than a cost-cutting one Go for short-cycle staged product development where possible <r+Rr+RTThings to Remember - Part I Branding is critical to rise above the crowd advisors, board, VCs, management, partners, customers Time to critical-mass usage is key funding, early customer/partner, domain experts, savvy mgmt Stay focused and balanced on the multiple value propositions actual users and actual revenue-customers Rely on your instincts - remember the 10% rule applies to VCs, bankers, analysts, industry experts also-6#<=*/9-6#<=*/8,>"+Things to Remember - Part II Never fall in love with your Business Plan Use equity currency liberally - pie growth test Eventually, the Fundamentals will matter =Most of the Internet-era Wealth Creation is still Ahead of us u ` ̙33` ` ff3333f` 333MMM` f` f` 3>?" dd@,|?" dd@   " @ ` n?" dd@   @@``PR    @ ` ` p>> c(    6Tz P z T Click to edit Master title style! !  0 z  z RClick to edit Master text styles Second level Third level Fourth level Fifth level!     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Netscape Ebay Healtheon Background Founded in 1996 by Jim Clark and Pavan Nigam Business Plan - Connect everyone in $1.2 Trillion health-care industry and make some money in TBD fashion R1.0 (96-end) connected employees, employers & plans ahead of the curve, limited success initial euphoria leads to despair Recruited CEO (Mike Long) in mid-97 R2.0 (98-end) connected providers, labs and plans vision update rallies company real and significant revenues Oct 98 IPO attempt unsuccessful due to market conditions R3.0 (mid-99) simplifies offerings as consumer & provider portals finally every employee can recite the Healtheon elevator-pitch Highly successful IPO in Feb/99 ($2.5B company on opening day) Announced $7B acquisition of WebMD on 5/99 Market cap of Healtheon/WebMD has moved within $7B-$26B range FV<{?j?FV<{?j=, "Top 10 Lessons Learnt/Enforced Constant assessment and refinement of Business Plan is important Real test of Leadership is during the down times It s never too early to acquire Domain expertise A True Internet company s growth has to be tied to the Internet s growth It is easier to migrate an installed base than to acquire new customers A revenue-enhancing value proposition is easier to sell than a cost-cutting one Go for short-cycle staged product development where possible Simple ideas have a better shot at winning than complex ones Cut your losses early (especially when it comes to senior mgrs) There is nothing like too much Communication nn82Things to Remember Branding is critical to rise above the crowd advisors, board, VCs, management, partners, customers use equity liberally (pie growth test) Time to critical-mass usage is key funding, early customer/partner, domain experts, savvy mgmt Stay focused and balanced on the multiple value propositions actual users and actual revenue-customers Rely on your instincts - remember the 10% rule applies to VCs, bankers, analysts, industry experts also Eventually the Fundamentals will matter revenues, profits, execution, execution, execution -]#<=*/9(4-]#<=*/9(3,>I=Most of the Internet-era Wealth Creation is still Ahead of us    (  l  C $zp  z l  C $z  z H  0޽h ? ̙33  @(  l  C (z@   l  C )zp  H  0޽h ? ̙33  P(  l  C 4vPp  z l  C v`P z H  0޽h ? ̙33r$)6 89pv$;'( / 0LDTimes New Roman0ܳܳ 0  @n?" dd@  @@`` X$ c $@c $@g4QdQd 0XNppp@  <4BdBd? %, SIPA Presentation Pavan Nigam How the InterRoot EntrywwxdO)@K%  PowerPoint DocumentPbDf<ww(?@wwbSummaryInformation8(INNT\pavan<DocumentSummaryInformation8T -. !"#$%&'3+/012(456789:Current User#+ % !"$&'Design Template Slide Titles 6> _PID_GUIDAN{63F3BDC1-85B4-11D3-9880-0080C7#_b Ravi Padaki8780DD}Pavan   !.--"Systemwf  -&TNPP &2 ;ting one Go for short-cycle staged product development where possible Simple ideas have a better shot at winning than complex ones Cut your losses early (especially when it comes to senior mgrs) There is nothing like too much Communication nn82Things to Remember Branding is critical to rise above the crowd advisors, board, VCs, management, partners, customers use equity liberally (pie growth test) Time to critical-mass usage is key funding, early customer/partner, domain experts, savvy mgmt Stay focused and balanced on the multiple value propositions actual users and actual revenue-customers Rely on your instincts - remember the 10% rule applies to VCs, bankers, analysts, industry experts also Eventually the Fundamentals will matter revenues, profits, execution, execution, execution -]#<=*/9(4-]#<=*/9(4,>I=Most of the Internet-era Wealth Creation is still Ahead of us  $$( Ow@ $r $ S Y`p  r $ S Z` `    H $ 0޽h ? ̙33r< @Np;,P '( / 0LDTimes New Roman0ܳܳ 0  @n?" dd@  @@`` X$ net Changed my Life!!  Netscape Ebay Healtheon Background Founded in 1996 by Jim Clark and Pavan Nigam Business Plan - Connect everyone in $1.2 Trillion health-care industry and make some money in TBD fashion R1.0 (96-end) connected employees, employers & plans ahead of the curve, limited success initial euphoria leads to despair Recruited CEO (Mike Long) in mid-97 R2.0 (98-end) connected providers, labs and plans vision update rallies company real and significant revenues Oct 98 IPO attempt unsuccessful due to market conditions R3.0 (mid-99) simplifies offerings as consumer & provider portals finally every employee can recite the Healtheon elevator-pitch Highly successful IPO in Feb/99 ($2.5B company on opening day) Announced $7B acquisition of WebMD on 5/99 Market cap of Healtheon/WebMD has moved within $7B-$26B range FV<{?j?FV<{?j?, "Top 10 Lessons Learnt/Enforced Constant assessment and refinement of Business Plan is important Real test of Leadership is during the down times It s never too early to acquire Domain expertise A True Internet company s growth has to be tied to the Internet s growth It is easier to migrate an installed base than to acquire new customers A revenue-enhancing value proposition is easier to sell than a cost-cutting one Go for short-cycle staged product development where possible Simple ideas have a better shot at winning than complex ones Cut your losses early (especially when it comes to senior mgrs) There is nothing like too much Communication nn82Things to Remember Branding is critical to rise above the crowd advisors, board, VCs, management, partners, customers use equity liberally (pie growth test) Time to critical-mass usage is key funding, early customer/partner, domain experts, savvy mgmt Stay focused and balanced on the multiple value propositions actual users and actual revenue-customers Rely on your instincts - remember the 10% rule applies to VCs, bankers, analysts, industry experts also Eventually the Fundamentals will matter revenues, profits, execution, execution, execution -]#<=*/9(4-]#<=*/9(4,>I=Most of the Internet-era Wealth Creation is still Ahead of us rhPpDPb