BlueJeans was an early pioneer in video-conferencing that tried to solve the IT interoperability problem that had stymied adoption of this technology previously.
Background:
BlueJeans was founded in 2009 by Krish Ramakrishnan, an entrepreneur who had sold two previous companies to Cisco. At the time of Battery’s investment in 2013, we felt video conferencing would eventually gain broad adoption and replace many in-person meetings, with joining a video call becoming as easy as dialing into an audio bridge. BlueJeans’ platform was built for corporate IT leaders and focused on allowing people to conduct video conferences across platforms, including enterprise-conferencing systems; Internet browsers; and landline and mobile phones.
Battery’s Impact:
Battery helped hire several key members of the leadership team; refine product and go-to-market strategy; execute multiple financing rounds; and ultimately strategize around the company’s exit.
Outcome:
Acquired by Verizon in 2020.
The presented case study investment was made in particular economic and market conditions. There can be no assurance that Battery Venture would elect, or be able, to exploit similar opportunities in a similar manner under similar or different economic and market conditions. More generally, there can be no assurances that the Battery vehicles will have comparable investment opportunities in the future. No assumptions should be made that any investments identified above were profitable. It should not be assumed that recommendations made in the future will be profitable or comparable to the portfolio company described in this case study. For a full list of all Battery Ventures investments, please click here.
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