Some interesting stats for you:
- In 2004, there were 640 Series A investments in startup companies
- Of those 640 companies, only three have gone public
- One of those golden three is MA based LogMeIn
I attended LogMeIn's IPO celebration party last week held at Fenway Park with company employees and investors. The event was hosted by Polaris Ventures, their venture capital firm. It was exciting to see the the employees' energy and hear remarks from LogMeIn CEO Michael Simon (in picture) and Polaris General Partner Dave Barrett. I was impressed by the appreciation and humility of their message to the team: We've come a long way, but we've got a long way to go.
The other exciting news of the evening was that LogMeIn's Ignition had just become #23 on the top grossing apps on the iPhone. Michael added that if you subtract out all the game apps, it was #5. Not bad. Oh, and let's also acknowledge that LogMeIn has been featured in Apple print ads - no small feat, and according to LogMeIn CMO Carol Meyers, apparently cloaked in secrecy as to how one even gets considered
MITX honored LogMeIn in June at our Annual Technology Awards Ceremony taking home two awards - Best Mobile Application for its LogMeIn â€oIgnitesâ€ app and a Best of Award for Customer Impact. LogMeIn (Nasdaq: LOGM) is a provider of on-demand, remote-connectivity solutions to small and medium-sized businesses, IT services providers and consumers.
Congratulations to everyone at LogMeIn - keep up the good work!