( ESNUG 484 Item 4 ) -------------------------------------------- [03/12/10]
Subject: EDN Atoptech management data wrong, Jue-Hsien Chern its first CEO
> What's odd about this is that usually CEOs and Presidents of EDA start-ups
> don't typically leave a company that they've baby sat since 2003 all the
> way to profitability. From AtopTech's coming out back in 2007:
>
> "The company's lead executives include co-founders Don-Min Tsou, PhD,
> president of ATopTech, and Kaiwin Lee, CEO; well-noted architect
> Ping-San Tzeng; Eric Thune, VP of sales and marketing; and Eddie
> Araki, president of ATopTech KK in Japan."
>
> - EDN (12/10/2007)
>
> yet if you look at AtopTech.com today, you'll find Don-Min Tsou (founding
> president) and Kaiwin Lee (founding CEO) are now both nowhere to be seen.
>
> - from http://www.deepchip.com/wiretap/100118.html
From: Eric Thune <eric=user domain=atoptech not calm>
Hi, John,
I read your Wiretap article regarding Atoptech and wanted to correct some
errors in the piece. First, we did not "replace" any management. Atoptech
has never had a CEO as we were waiting for the proper point in our growth
to add the right person. After doubling our business and installed base
last year, and reaching profitability, we thought now was the right time to
bring a CEO in to help Atoptech with the next phase of our growth.
Jue-Hsien Chern had been consulting with Atoptech for many months and after
both sides feeling like this was the perfect fit, he accepted the position
of CEO. We couldn't be more excited to have a seasoned EDA veteran at the
helm of our company at this point in our growth.
The EDN article you reference incorrectly identified Kaiwin Lee as the CEO;
he was the COO. Don-Min Tsou was originally our President and became
Chairman of the Board several years back and remains that still. At the
same time, Ping-san Tzeng became President and CTO and continues in this
position. Kaiwin Lee left the company almost a year ago to start a new
venture. The rest of the management team remains intact as well, so the
concept of "replacing management" is just incorrect.
Atoptech has not raised any VC money since 2005 and has only raised a total
of $14 million. We have been operating on revenue from our customers since
then and have significant cash in the bank. Although our competitors would
like to tell you we are stumbling, it is quite the opposite. We are very
open to sharing this financial data with prospective customers if needed.
I'd also suggest your readers talk to the users of our tool and get their
feedback; there is nothing better than speaking to someone who has used our
tool in a tape-out environment. What is unfortunate is that many companies
have not been willing to give press releases for many reasons; including
the fear of reprisal from some of their existing EDA vendors. We are happy
to remain low key while growing significantly!
- Eric Thune, VP Sales and Marketing
Atoptech, Inc. San Jose, CA
---- ---- ---- ---- ---- ---- ----
From: Lou Covey <lou=user domain=vitalcompr not calm>
Hi, John,
While you're right that most EDA CEOs prefer to hang on once the company
becomes profitable, it's not always the smartest thing. EDA startups
almost invariably begin with a technologist as the CEO. That's a good
thing when the company is trying to build a successful product, but most
engineering CEOs don't have the business/marketing experience to make the
company grow. Investors like to see a change in management at the point
of profitability to take the company out of engineering mode and into
business mode.
There is also the potential of Atoptech being acquired, which is the exit
strategy of choice in EDA. The investors want their return ASAP, and
hiring a guy like Chern is a good way to take the next step.
- Lou Covey
VitalCom Public Relations, Inc. Redwood City, CA
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