MicroStrategy Incorporated is a company that provides business intelligence (BI), mobile software, and cloud-based services. Founded in 1989 by Michael J. Saylor and Sanju Bansal, the firm develops software to analyze internal and external data in order to make business decisions and to develop mobile apps. It is a public company headquartered in Tysons Corner, Virginia, in the Washington metropolitan area. Its primary business analytics competitors include SAP AG Business Objects, IBM, Cognos, and Oracle Corporation's BI Platform. Saylor is the CEO and chairman of the board. The company holds 31 granted patents and 9 additional applications under review.
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History
Saylor started MicroStrategy in 1989 with a consulting contract from DuPont, which provided Saylor with $250,000 in start-up capital and office space in Wilmington, Delaware. Saylor was soon joined by company co-founder Sanju Bansal, whom he had met while the two were students at Massachusetts Institute of Technology. The company produced software for data mining and business intelligence using nonlinear mathematics, an idea inspired by a course on systems-dynamics theory that they took at MIT.
In 1992, MicroStrategy gained its first major client when it signed a $10 million contract with McDonald's. It increased revenues by 100% each year between 1990 and 1996. In 1994, the company's offices and its 50 employees moved from Delaware to Tysons Corner, Virginia.
On June 11, 1998, MicroStrategy became a public company via an initial public offering.
In 2000, the company founded Alarm.com as part of its research and development unit.
On March 20, 2000, after a review of its accounting practices, the company announced that it would restate its financial results for the preceding two years. Its stock price, which had risen from $7 per share to as high as $333 per share in a year, fell $120 per share, or 62%, in a day in what is regarded as the bursting of the dot-com bubble. In December 2000, the U.S. Securities and Exchange Commission brought charges against the company and its executives. A lawsuit was subsequently filed against MicroStrategy and certain of its officials over fraud. In December 2000, Saylor, Bansal, and the company's former CFO settled with the SEC without admitting wrongdoing, each paying $350,000 in fines. The officers also paid a combined total of $10 million in disgorgement. The company settled with the SEC, hiring an independent director to ensure regulatory compliance.
In February 2009, MicroStrategy sold Alarm.com to venture capital firm ABS Capital Partners for $27.7 million. The company introduced OLAP Services with a shared data set cache, to accelerate reports and ad hoc queries. In 2010, the company began developing and deploying business intelligence software for mobile platforms, such as the iPhone and iPad.
In 2011, the company expanded its offerings to include a cloud-based service, MicroStrategy Cloud. In 2013, MicroStrategy sold Angel to Genesys Telecommunications Laboratories for $110 Million. In January 2014, the company announced a new feature of the platform called PRIME (Parallel Relational In-Memory Engine), co-developed with Facebook.
In October 2014 the company announced plans to lay off 770 employees, a month after reducing Saylor's salary from $875,000 to $1 at his request.
In June 2015, MicroStrategy announced the general availability of MicroStrategy 10.
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Products
MicroStrategy 10, the latest suite of software, consists of MicroStrategy Analytics, MicroStrategy Mobile, and Usher. MicroStrategy 10.10, released in December 2017, added MicroStrategy Workstation. It uses business intelligence and predictive analytics to search through and perform analytics on big data from a variety of sources, including data warehouses, Excel files, and Apache Hadoop distributions.
MicroStrategy Analytics allows organizations to analyze large amounts of data and securely distribute insights. MicroStrategy Analytics delivers reports and dashboards, and enables users to conduct ad hoc analysis and share insights via mobile devices or the web. It is available as on-premises software and as a hosted service offering in MicroStrategy Cloud.
MicroStrategy Mobile, introduced in 2010, is a software platform integrating Analytics capabilities into apps for iPhone, iPad, Android, and BlackBerry. It allows easier access without needing to reformat the data for different platforms.
Usher is a digital credential and identity intelligence product that provides a secure way for organizations to control digital and physical access. It replaces physical badges and passwords with secure digital badges, and generates information on user behavior and resource usage. Usher uses three-factor authentication, out-of-band channels, time-limited codes, and bidirectional public key infrastructure encryption.
Awards and recognition
In 2011, Apple Inc. recognized MicroStrategy's iOS app as one of the best business apps of the year. In 2012, the Business Application Research Center (BARC) ranked MicroStrategy first overall in Mobile BI in the BI Survey 12. Also in 2012, Information Management named MicroStrategy one of the "Forty Vendors We're Watching" for its ability to understand new business trends.
References
External links
- Official website
Source of article : Wikipedia
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