When Citrix was created in 1989, its founder, Ed Iacobucci could never have guessed where technology would take his small start-up company. The internet itself was barely in its infancy and “cloud” technology was as distant as the clouds themselves. A former developer at IBM, Iacobucci understood the importance of emerging technology and formed an early partnership with Microsoft. Due to his foresight, Citrix was able to stay afloat; despite an inability to turn a profit during its first six years following inception. The company earned no revenue at all between 1991 and 1993 and had it not been for funding from Microsoft, Intel and a few other venture capitalists, Citrix would have gone belly-up during that difficult time.
Fortunately, the acquisition of a product created by Novell called “Network Access Server” proved to be a turning point for the struggling Citrix. After further development and some fine-tuning, Network Access Server was released by Citrix under the name WinView. This commodity become the very first released by the company to turn a profit and paved the way for what Citrix provides in today’s market.
What is Citrix?
Citrix occupies a unique niche in the computer science industry. Their introduction of WinView in 1993 marked one of the first remote-access technological breakthroughs; it provided a connection for multiple users with programs and other applications from one main server (a system still utilized by many companies today). WinView laid the groundwork for Citrix to be a top provider of remote access services.
Today’s focus on mobile internet has put Citrix in a very enviable position. Users expect high functionality from small devices that may not have been possible were it not for the Cloud technology introduced by Citrix. As the demand for increasingly comprehensive, mobile-internet access rises, so has the company’s revenue. In fact, Citrix’ services are so in demand that despite downward-trending profit margins for much of the technology sector, the company is surpassing its market projections.
Citrix third-quarter profits rose a sizeable 5% as a result of its online services and product license sales. This prompted the company to increase its projected fourth-quarter earnings to a 76 cent increase per share, instead of the originally stated 75 cents. While an additional one cent per share may not sound like much, that figure represents adjusted revenue of roughly 10 million dollars. In light of its successes, Citrix has purchased several key domains that further its position as the top provider of remote technology, not the least of which is cloud.com.
Citrix is a shining example of what adapting to emerging computer science can do for your business. The thriving cloud technology market of today would have seemed like science fiction if presented to Ed Iacobucci in 1989. Don’t make the mistake of thinking this rags-to-riches story is specific only to businesses involved in computer science; today’s technology has the potential to increase revenue for virtually everyone! Don’t get stuck thinking the hi tech industry has nothing to offer your business; call us and discover your expanded marketplace today!