Michael Baum (entrepreneur): Difference between revisions
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{{Short description|American entrepreneur and investor}} |
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{{BLP sources|date=March 2020}} |
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{{Infobox person |
{{Infobox person |
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| name = Michael Baum |
| name = Michael Baum |
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| birth_name = Michael Joseph Baum |
| birth_name = Michael Joseph Baum |
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| image = |
| image = Michael Baum 2014 3 Head-500x500.png |
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| imagesize = 250px |
| imagesize = 250px |
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| birth_date = {{birth-date and age|May 28, 1962}} |
| birth_date = {{birth-date and age|May 28, 1962}} |
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| birth_place = [[Philadelphia]], [[Pennsylvania]], [[United States|USA]] |
| birth_place = [[Philadelphia]], [[Pennsylvania]], [[United States|USA]] |
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| parents = Mardell A. Baum<br />Richard L. Baum, Sr. |
| parents = Mardell A. Baum<br />Richard L. Baum, Sr. |
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| residence = [[San Francisco]], [[California]] and <br/>[[Paris]], [[France]] |
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| occupation = Businessman, [[investor]], software engineer |
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⚫ | | known_for = Founder & CEO of Founder.org<br />Board member of Gemini Data<br />Co-founder & CEO of [[Splunk]]<br />Founder of Big Data Supper Club<br/>Co-founder of Collation<br />VP e-Commerce at Yahoo!<br />Co-founder & COO of DotBank<br />VP e-Commerce at Disney<br />Co-founder & CEO of 280<br />Co-founder & CEO of Pensoft<br />Co-founder & CTO at Reality<br />CEO & Propriétaire at Chateau de Pommard |
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| occupation = [[Entrepreneur]], [[Investor]] and [[Philanthrapist]] |
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⚫ | | known_for = Founder & CEO of Founder.org<br />Board member of Gemini Data<br />Co-founder & CEO of Splunk<br />Founder of Big Data Supper Club<br/>Co-founder of Collation<br />VP e-Commerce at Yahoo!<br />Co-founder & COO of DotBank<br />VP e-Commerce at Disney<br />Co-founder & CEO of 280<br />Co-founder & CEO of Pensoft<br />Co-founder & CTO at Reality<br />CEO & Propriétaire at Chateau de Pommard |
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| website = {{URL|FOUNDER.org}} |
| website = {{URL|FOUNDER.org}} |
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}} |
}} |
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'''Michael Baum''' (born May 28, 1962) is an |
'''Michael Baum''' (born May 28, 1962) is an American businessman and investor. He is best known as the founder & CEO of [[Splunk]], a [[big data]] software technology used for understanding [[machine-generated data]] primarily for [[systems management]],<ref>{{cite web |url=http://esj.com/articles/2006/02/21/splunk-touts-troubleshooting-rx.aspx |title=Data Center Troubleshooting Rx |author=Stephen Sowyer |work=Enterprise Systems Journal website |accessdate=February 2, 2006}}</ref> [[computer forensics|security forensics]],<ref>{{cite web |url=http://washingtontechnology.com/articles/2011/12/20/splunk-software-searches.aspx |title=Search fuels one small firm's dream of big data success |author=David Hubler |work=Washington Technology, The Authority for Government Contractors and Partners |date=21 December 2011 |accessdate=December 21, 2011}}</ref> [[Regulatory compliance|compliance reporting]]<ref>{{cite web |url=https://www.forbes.com/2008/04/22/washington-entrepreneurs-splunk-tech-enter-cx-atg_0423splunk.html |author=Andrew Gillies |work=Forbes |accessdate=April 23, 2008 |title=Mining Government Tech Dollars}}</ref> and real-time [[operational intelligence]].<ref>{{cite web |url=https://ntrs.nasa.gov/search.jsp?R=20130000255 |title= Revamping Spacecraft Operational Intelligence |author=Victor Hwang |work=NASA Technical Reports |date= 10 June 2012 |accessdate=June 10, 2012}}</ref> Baum is the founder of six technology start-ups, five of which have been acquired and one (NASDAQ: SPLK) which went public.<ref>{{cite web |url=http://www.thedeal.com/content/tmt/splunk-shows-spunk-in-market-debut.php |title=Splunk shows spunk in market debut |author=Olaf de Senerpont Domis |work=The Deal |accessdate=April 20, 2012}}</ref> He has also been a [[venture capital]] investor with Rembrandt Venture Partners, [[Advent International]] and Crosspoint Venture Partners. Baum graduated with a computer science degree from [[Drexel University]] and an MBA from [[Wharton School|The Wharton School at the University of Pennsylvania]]. In September 2014, Baum became CEO & Propriétaire of [[Château de Pommard]], a Burgundy winery established in 1726. |
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== Early life and education == |
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== Background == |
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Baum was born in [[Philadelphia]], [[Pennsylvania]] and attended high school at [[Cherry Hill High School East]] |
Baum was born in [[Philadelphia]], [[Pennsylvania]], and attended high school at [[Cherry Hill High School East]].{{citation needed|date=October 2018}} During his sophomore year at [[Drexel University]], he switched his major from electrical engineering to computer science after a visit to the campus by famed American business and technology icon [[Steve Jobs]];<ref name=BBC>{{cite web |author=Will Smale |url=https://www.bbc.com/news/business-51950286 |title='I bought a winery and it caused a US-French row |publisher=BBC News Business |date=March 23, 2020 }}</ref> the focus of his bachelor's degree was artificial intelligence and compiler and language theory. He went on to earn a Masters of Business Administration with a focus on corporate finance from [[Wharton School|The Wharton School at the University of Pennsylvania]].<ref>{{cite web |url=https://beacon.wharton.upenn.edu/whartonmagazine/blogs/giving-thanks-for-alumni-inspired-excellence/ |author=Jennifer Royer |title=Given Thanks to Alumni Inspired Excellence |work=Wharton Magazine |accessdate=November 27, 2012}}</ref> |
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==Business career== |
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During his time at college, Baum was curious to understand how computers and software could be applied to enable people to process large amounts of data in complex decision-making. He published his thesis titled ''Information Chunking and Human Decision Making''.<blockquote>“When I graduated from Drexel my plan was to become a researcher, but I realized after being offered positions with companies like IBM and Microsoft that being an entrepreneur would give me a better opportunity to see my ideas make an impact on the world around me," says Baum.</blockquote>{{cn|date=March 2020}} Baum pursued a career in technology and entrepreneurship. He teamed with co-founders [[Mark Goldstein]] and Doug Alexander and started [[Reality Online]] where they leveraged 100 years of historical financial instrument data to simulate market conditions, investment outcomes and portfolio optimizations for individual investors and certified financial planners. Reality Online was funded by [[Venrock]], the venture capital arm of the [[Rockefeller family]], and later acquired by [[Reuters]] in 1989. |
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During his time at college, Baum expressed curiosity in understanding how computers and software could be applied to enable people to process large amounts of data in complex decision-making.{{cn|date=January 2020}} |
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Baum pursued a career in technology and entrepreneurship. He co-founded Reality Online, a stock market modeling company.<ref name=BBC/> Reality Online was funded by [[Venrock]], the venture capital arm of the [[Rockefeller family]], and later acquired by [[Reuters]] in 1989.{{cn|date=January 2020}} |
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After graduate school, Baum moved to [[Silicon Valley]] and started his second company, [[PenPoint OS|Pensoft]], a software company that created a small footprint [[object oriented|object-oriented]] database for wireless devices including the [[GO Corporation]]'s [[pen-based computing]] operating system. It was here he first met Rob Das, the company's Chief Architect. Pensoft was backed by [[Institutional Venture Partners]] and [[Mohr Davidow Ventures]]. [[AT&T Corporation|AT&T]] acquired the company in 1993. In his third start-up venture, Baum connected with Rob Das and Erik Swan as co-founders at 280, an early hosted business collaboration platform exploiting the [[Java (programming language)]] to bring real-time interaction around unstructured data to the Internet. Crosspoint Venture Partners backed 280. The company was acquired by [[Infoseek]] in 1997. Infoseek partnered with and later merged into [[The Walt Disney Company]] to form [[Disney Interactive|Disney Internet Group]] where Baum was VP of e-Commerce. Baum left Disney and joined co-founder Robert Simon to start his fourth company, [[PayDirect|dotBank]], an Internet money exchange platform for person to person and business to business payments, synthetic currencies and financial transactions.<ref>{{cite web |url=http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PTXT&s1=07792720&OS=07792720&RS=07792720 |title=Person to Person Money Exchange, United States Patent 7,792,20 |author=Gallagher|display-authors=etal|work=US Patent Office |accessdate=August 15, 2000 }}</ref> dotBank was later acquired by [[Yahoo!]]<ref>{{cite web |url=http://www.ecommercetimes.com/story/2819.html |title=Yahoo! Targets eBay with Payment Service Acquisition |author=Lori Enos |work=E-Commerce Times|accessdate=March 24, 2000}}</ref> where Michael became VP of e-Commerce. |
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In 2014 |
In September 2014, Baum bought [[Château de Pommard]], a Burgundy winery established in 1726,<ref name=BBC/><ref>{{cite web |url=https://chateaudepommard.com/families/#carabello-baum |title=Château de Pommard |work=Château de Pommard Official Website}}</ref> and moved to Burgundy with his family.<ref>{{cite web |url=https://www.visitfrenchwine.com/en/portrait/michael-baum/ |title=Expert Advice: Michael Baum, CEO & Propriétaire of Château de Pommard |work=Visit French Wine|date=13 June 2017 }}</ref> |
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== Splunk == |
=== Splunk === |
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{{main|Splunk}} |
{{main|Splunk}} |
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Continuing to explore the possibilities of advancing an understanding of [[chaotic systems]],<ref>{{cite web |url=http://www.internetnews.com/storage/article.php/3633716/Michael+Baum+CEO+Splunk.htm |title=Michael Baum, CEO Splunk Interview |author=Clint Boulton |work=Internet News |accessdate=September 22, 2006}}</ref> Baum began to explore the application of search technology to large-scale machine data. Reconnecting with Rob Das and Erik Swan in 2003, the three co-founded [[Splunk]].<ref>{{cite web |url=http://www.computerworld.com/s/article/9002558/Splunk_Inc._s_Splunk_Data_Center_Search_Party |title=2006 Horizon Awards Winner: Splunk |work=ComputerWorld |accessdate=August 21, 2006}}</ref> Their goal was to build a search engine for real-time flows and massive historical corpuses of machine data.<ref>{{cite web |url=http://www.eweek.com/c/a/Database/Splunk-Brings-GoogleLike-Search-to-the-Data-Center/ |title=Splunk Brings Google-Like Search to the Data Center |author=Lisa Vaas |work=eWeek |accessdate=August 9, 2005}}</ref> Splunk was the sixth startup for Baum and the first pure-play big data company to reach significant customer and revenue scale and debut on the public markets. Baum, Das and Swan and their team at Splunk have been awarded two US Patents for their work.<ref>{{cite web |url=http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-adv.htm&r=2&f=G&l=50&d=PTXT&S1=7,937,344&OS=7,937,344&RS=7,937,344 |title=Machine Data Web, United States Patent 7,937,344 |author=Baum|display-authors=etal|work=United States Patent Office |accessdate=July 1, 2005}}</ref><ref>{{cite web |url=http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=2&f=G&l=50&co1=AND&d=PTXT&s1=8,112,425&OS=8,112,425&RS=8,112,425 |title=Time Series Search Engine, United States Patent 8,112,425 |author=Baum|display-authors=etal|work=United States Patent Office |accessdate=August 28, 2006}}</ref> |
Continuing to explore the possibilities of advancing an understanding of [[chaotic systems]],<ref>{{cite web |url=http://www.internetnews.com/storage/article.php/3633716/Michael+Baum+CEO+Splunk.htm |title=Michael Baum, CEO Splunk Interview |author=Clint Boulton |work=Internet News |date=22 September 2006 |accessdate=September 22, 2006}}</ref> Baum began to explore the application of search technology to large-scale machine data. Reconnecting with Rob Das and Erik Swan in 2003, the three co-founded [[Splunk]].<ref>{{cite web |url=http://www.computerworld.com/s/article/9002558/Splunk_Inc._s_Splunk_Data_Center_Search_Party |title=2006 Horizon Awards Winner: Splunk |work=ComputerWorld |date=21 August 2006 |accessdate=August 21, 2006}}</ref> Their goal was to build a search engine for real-time flows and massive historical corpuses of machine data.<ref>{{cite web |url=http://www.eweek.com/c/a/Database/Splunk-Brings-GoogleLike-Search-to-the-Data-Center/ |title=Splunk Brings Google-Like Search to the Data Center |author=Lisa Vaas |work=eWeek |accessdate=August 9, 2005}}</ref> Splunk was the sixth startup for Baum and the first pure-play big data company to reach significant customer and revenue scale and debut on the public markets. Baum, Das and Swan and their team at Splunk have been awarded two US Patents for their work.<ref>{{cite web |url=http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-adv.htm&r=2&f=G&l=50&d=PTXT&S1=7,937,344&OS=7,937,344&RS=7,937,344 |title=Machine Data Web, United States Patent 7,937,344 |author=Baum|display-authors=etal|work=United States Patent Office |accessdate=July 1, 2005}}</ref><ref>{{cite web |url=http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=2&f=G&l=50&co1=AND&d=PTXT&s1=8,112,425&OS=8,112,425&RS=8,112,425 |title=Time Series Search Engine, United States Patent 8,112,425 |author=Baum|display-authors=etal|work=United States Patent Office |accessdate=August 28, 2006}}</ref> |
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Baum was Splunk's founding CEO for the first six years.<ref>{{cite web |url=http://coldfusion.sys-con.com/node/215321 |title=Splunk's Michael Baum Speaks with Jeremy Geelan |author=Jeremy Geelan |work=Sys-Con.TV }}</ref> He raised $40M in venture capital financing from August Capital,<ref>{{cite web |author=Hornik |first=David |author-link=David Hornik |title=A Tribute to Splunk |url=http://www.ventureblog.com/2012/04/a-tribute-to-splunk.html |accessdate=July 1, 2012 |work=VentureBlog: A Walk Down Sand Hill Road}}</ref> Seven Rosen Funds, JK&B Capital<ref>{{cite web |url=http://www.lightreading.com/splunk-gets-10m/240067830 |title=Splunk Gets $10M |work=Light Reading |accessdate=January 25, 2006}}</ref> and Ignition Partners.<ref>{{cite web |url=https://venturebeat.com/2007/09/11/splunk-search-engine-for-it-data-raises-25m |title=Splunk, search engine for IT data, raises $25M |author=Matt Marshall |work=VentureBeat |date=September 11, 2007}}</ref> |
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Splunk is due to be acquired by [[Cisco]] for $28 billion in an all-cash deal announced in September 2023.<ref>{{cite web |title= "Cisco Strikes $28 Billion Deal for Splunk in Biggest Buy Yet"|url=https://www.bloomberg.com/news/articles/2023-09-21/cisco-to-buy-splunk-for-157-a-share-in-28-billion-deal |accessdate=Jan 26, 2024 | publisher=Bloomberg}}</ref> |
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==References== |
==References== |
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Latest revision as of 14:51, 26 July 2024
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Michael Baum | |
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Born | Michael Joseph Baum May 28, 1962 (age 62) |
Education | Wharton School at the University of Pennsylvania (M.B.A.) Drexel University (BSc.) |
Occupation(s) | Businessman, investor, software engineer |
Known for | Founder & CEO of Founder.org Board member of Gemini Data Co-founder & CEO of Splunk Founder of Big Data Supper Club Co-founder of Collation VP e-Commerce at Yahoo! Co-founder & COO of DotBank VP e-Commerce at Disney Co-founder & CEO of 280 Co-founder & CEO of Pensoft Co-founder & CTO at Reality CEO & Propriétaire at Chateau de Pommard |
Parent(s) | Mardell A. Baum Richard L. Baum, Sr. |
Website | founder |
Michael Baum (born May 28, 1962) is an American businessman and investor. He is best known as the founder & CEO of Splunk, a big data software technology used for understanding machine-generated data primarily for systems management,[1] security forensics,[2] compliance reporting[3] and real-time operational intelligence.[4] Baum is the founder of six technology start-ups, five of which have been acquired and one (NASDAQ: SPLK) which went public.[5] He has also been a venture capital investor with Rembrandt Venture Partners, Advent International and Crosspoint Venture Partners. Baum graduated with a computer science degree from Drexel University and an MBA from The Wharton School at the University of Pennsylvania. In September 2014, Baum became CEO & Propriétaire of Château de Pommard, a Burgundy winery established in 1726.
Early life and education
[edit]Baum was born in Philadelphia, Pennsylvania, and attended high school at Cherry Hill High School East.[citation needed] During his sophomore year at Drexel University, he switched his major from electrical engineering to computer science after a visit to the campus by famed American business and technology icon Steve Jobs;[6] the focus of his bachelor's degree was artificial intelligence and compiler and language theory. He went on to earn a Masters of Business Administration with a focus on corporate finance from The Wharton School at the University of Pennsylvania.[7]
Business career
[edit]During his time at college, Baum expressed curiosity in understanding how computers and software could be applied to enable people to process large amounts of data in complex decision-making.[citation needed]
Baum pursued a career in technology and entrepreneurship. He co-founded Reality Online, a stock market modeling company.[6] Reality Online was funded by Venrock, the venture capital arm of the Rockefeller family, and later acquired by Reuters in 1989.[citation needed]
In September 2014, Baum bought Château de Pommard, a Burgundy winery established in 1726,[6][8] and moved to Burgundy with his family.[9]
Splunk
[edit]Continuing to explore the possibilities of advancing an understanding of chaotic systems,[10] Baum began to explore the application of search technology to large-scale machine data. Reconnecting with Rob Das and Erik Swan in 2003, the three co-founded Splunk.[11] Their goal was to build a search engine for real-time flows and massive historical corpuses of machine data.[12] Splunk was the sixth startup for Baum and the first pure-play big data company to reach significant customer and revenue scale and debut on the public markets. Baum, Das and Swan and their team at Splunk have been awarded two US Patents for their work.[13][14]
Baum was Splunk's founding CEO for the first six years.[15] He raised $40M in venture capital financing from August Capital,[16] Seven Rosen Funds, JK&B Capital[17] and Ignition Partners.[18]
Splunk is due to be acquired by Cisco for $28 billion in an all-cash deal announced in September 2023.[19]
References
[edit]- ^ Stephen Sowyer. "Data Center Troubleshooting Rx". Enterprise Systems Journal website. Retrieved February 2, 2006.
- ^ David Hubler (21 December 2011). "Search fuels one small firm's dream of big data success". Washington Technology, The Authority for Government Contractors and Partners. Retrieved December 21, 2011.
- ^ Andrew Gillies. "Mining Government Tech Dollars". Forbes. Retrieved April 23, 2008.
- ^ Victor Hwang (10 June 2012). "Revamping Spacecraft Operational Intelligence". NASA Technical Reports. Retrieved June 10, 2012.
- ^ Olaf de Senerpont Domis. "Splunk shows spunk in market debut". The Deal. Retrieved April 20, 2012.
- ^ a b c Will Smale (March 23, 2020). "'I bought a winery and it caused a US-French row". BBC News Business.
- ^ Jennifer Royer. "Given Thanks to Alumni Inspired Excellence". Wharton Magazine. Retrieved November 27, 2012.
- ^ "Château de Pommard". Château de Pommard Official Website.
- ^ "Expert Advice: Michael Baum, CEO & Propriétaire of Château de Pommard". Visit French Wine. 13 June 2017.
- ^ Clint Boulton (22 September 2006). "Michael Baum, CEO Splunk Interview". Internet News. Retrieved September 22, 2006.
- ^ "2006 Horizon Awards Winner: Splunk". ComputerWorld. 21 August 2006. Retrieved August 21, 2006.
- ^ Lisa Vaas. "Splunk Brings Google-Like Search to the Data Center". eWeek. Retrieved August 9, 2005.
- ^ Baum; et al. "Machine Data Web, United States Patent 7,937,344". United States Patent Office. Retrieved July 1, 2005.
- ^ Baum; et al. "Time Series Search Engine, United States Patent 8,112,425". United States Patent Office. Retrieved August 28, 2006.
- ^ Jeremy Geelan. "Splunk's Michael Baum Speaks with Jeremy Geelan". Sys-Con.TV.
- ^ Hornik, David. "A Tribute to Splunk". VentureBlog: A Walk Down Sand Hill Road. Retrieved July 1, 2012.
- ^ "Splunk Gets $10M". Light Reading. Retrieved January 25, 2006.
- ^ Matt Marshall (September 11, 2007). "Splunk, search engine for IT data, raises $25M". VentureBeat.
- ^ ""Cisco Strikes $28 Billion Deal for Splunk in Biggest Buy Yet"". Bloomberg. Retrieved Jan 26, 2024.
- 1962 births
- Living people
- 20th-century American businesspeople
- 21st-century American businesspeople
- American computer businesspeople
- American expatriates in France
- American investors
- American software engineers
- American technology company founders
- American technology chief executives
- American people in the wine industry
- Businesspeople from New Jersey
- Businesspeople from Philadelphia
- Drexel University alumni
- Engineers from New Jersey
- Engineers from Pennsylvania
- People from Camden County, New Jersey
- Splunk people
- Wharton School alumni