In 1911, Henry Phipps founded Bessemer Securities to reinvest the proceeds of his sale of Carnegie Steel for the benefit of his descendants. The start-up investment operations were spun out into Bessemer Venture Partners. Bessemer Venture Partners (BVP) continues one of the longest-running records of success in the venture capital industry. Over the course of its history, investors at the firm formed or funded over 100 startups that grew into independent public companies. They provided seed funding for early industrial companies like WR Grace, Ingersoll Rand and International Paper, retail innovators like Staples, The Sports Authority and Blue Nile, new drug developers like Isis and Perseptive Biosystems, service pioneers like Gartner Group, Bright Horizons and Celtel, and high-tech innovators like Ciena, Parametric, VMX, DSP Group (now Intel), Maxim, Flarion (now Qualcomm), Skype, and LinkedIn. Today, BVP has offices in New York, Silicon Valley, Boston, Mumbai and Herzliya and manages more than $4 billion of venture capital invested in over 130 companies around the world. In the past three years, BVP realized eleven IPOs including OnMobile, Shriram EPC, IPC: The Hospitalist Company, Cornerstone, Broadsoft, LinkedIn, Yelp, and multiple major acquisitions of companies in our portfolio (IAG by Nielsen, Sirtris by Glaxo, Gracenote by Sony, Bladelogic by BMC, PA Semi by Apple, Pure Networks by Cisco, Storwize by IBM, Vertica by HP, and Endeca by Oracle to name a few).