Infoblox 2014 woes 'self-inflicted', says CMO
Vendor remains bullish on addressable market, following appointment of new CEO
Infoblox's organisational troubles in 2014 were "self-inflicted", according to the company's CMO, who insisted last month that the requirement for what Infoblox provides continues to grow.
In 2014, Infoblox - a publicly traded company - missed revenue estimates, causing investors to worry and for the stock to tumble. Some investors felt misled, with some even alleging fraud. However, the company is under new leadership now, having appointed Jesper Anderson as CEO in December.
Speaking to ITP.net in Dubai, David Gee, Infoblox CMO, said that the company had diagnosed the problems that led it to miss its revenue targets, and that the overall market was on an upward trend. He said that, having taken steps to remedy its internal problems, Infoblox is now poised to ride that upward trend.
"Certainly I think we struggled in the first calendar half of the year with our execution. But I also want to make the point that, did the addressable market shrink or grow? It grew. Was the requirement for what we do still present and growing? Yes," he said.
"We were going through a transition, which is pretty typical for growing companies where our sales coverage, sales execution, marketing model, all had to evolve to a business that's on a growth curve from $200m to $500m and above, versus $100m to $200m. Culturally it's a very different thing."
Gee also hit back at accusations that the addressable market for DNS security - Infoblox's bread and butter - was shrinking due to increasingly competent freeware offerings from the likes of Microsoft. He said that, due to the focus that Infoblox has on its products, it had the best offerings, and that customers were willing to pay for that.
"It's not a hobby for us. We get asked a lot why doesn't Microsoft eat your lunch, or why doesn't Cisco go do this - pick a networking vendor or an operating system vendor of choice. We've carved out a niche that 7,000 customers have written us a cheque for up to this point, and that number continues to grow," he said.
Gee also claimed that, since the stock crash last year, Infoblox had met or exceeded its publicly described expectations for the last two quarters. Gee sold 10,000 of his shares in the company earlier this month, though there is a consensus on Wall Street that places Infoblox stock under "buy" status.