CIMdata PLM Industry Summary Online Archive
20 December 2005
Company News
CollabNet Adds Ariba Founder to Board of Directors
CollabNet announced that Keith Krach, co-founder of Ariba, has joined the CollabNet Board of Directors. At Ariba, Krach created one of the fastest growing companies and recognizable software brands of the past decade.
The company will leverage Krach's notable software industry expertise and business successes to help direct the corporate vision and ensure the long-term success of CollabNet distributed application lifecycle management and software development solutions. CollabNet boasts six years of industry experience delivering integrated collaborative software development solutions across all phases of the application development lifecycle for distributed teams. More than 700,000 people currently use the CollabNet software development environment.
"Keith is one of the most highly regarded software industry executives in Silicon Valley history, and we look forward to his insight and valuable contributions to our board and our business," said Bill Portelli, president and CEO of CollabNet. "We have established aggressive business goals for 2006 to further promote distributed software development and extend our leadership position in this market, and will rely on Keith and all of our board members to help CollabNet navigate the paths that will result in greater business benefits for our company."
Keith Krach is currently the president of 3points, LLC, an investment holding company. Krach co-founded Ariba in 1996. He served as the company's chairman for seven years and CEO for the first five years. Under his leadership as CEO, Ariba grew rapidly to become the dominant global player in the ever-evolving business-to-business (B2B) e-commerce industry. Krach helped Ariba achieve a run rate of $500 million in revenue and 13 quarters of positive cash flow from operations. In 2000, he was honored at the World Economic Forum where Ariba was presented with the Technology Pioneer Award. Additionally in 2000, Ernst & Young named Krach National Entrepreneur of the Year in recognition of his accomplishment in e-business.
After earning his B.S. degree in industrial engineering from Purdue University and an MBA from Harvard University, Krach spent 10 years with General Motors, and became General Motors' youngest-ever vice president, heading up the robotics operations. Krach then took a position as COO at Rasna Corporation that was sold in 1995 for $500 million. Krach later became the first entrepreneur-in-residence at Benchmark Capital and in 1996 he assembled a team of six others to form Ariba.
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