Home Leadership Turn Archives Me RampUp Solutions  
 

  • Categories

  • Archives
 

Entrepreneurs: Therese Tucker Builds a Unicorn

by Miki Saxon

http://www.calfund.org/about-ccf/board-of-directors/therese-tucker/On October 28 one glass ceiling was shattered.

Therese Tucker just broke a glass ceiling as the first woman founder/CEO to lead a venture-capital-backed Los Angeles startup to an initial public offering, according to The Los Angeles Times’ Paresh Dave.

Not just a woman, but a woman of a certain age, 55, who built her company, BlackLine, over the last 15 years the hard way.

“I funded the company up until 2013, and there were some very difficult times,” she said. “I ended up putting in everything that I had into it. First the nest egg from my options from my previous company. But then I drained my bank accounts and my 401(k). I told my kids, had I been able to access their college savings funds, I probably would have taken that, too. I second-mortgaged my house. I maxed out my credit cards. I begged from friends to cover payroll.
It was difficult and humiliating and scary. I thought, ‘Oh my god, I’m going to be a woman in my 40s who’s bankrupt and starting over,'” she said of the years through about 2005.

That’s grit — the thing everyone is talking about.

BlackLine went public $2 above the target price and soared from there.

On Friday morning, the shares opened at $24.52, a 44% pop. The stock was trading at around $23.31 midday, giving the company a $1.15 billion market cap.

The result of that $2 increase meant raising $46 million more than than the $100 million planned.

Tucker didn’t build BlackLine by raising round after round of funding in an easy money environment—she bootstrapped it.

She did, however, jump on a still unproven new technology/business model.

The turning point happened in 2007, when the idea of cloud computing was very new. She and her team decided to quit making old-fashioned software and sell the service exclusively through the cloud.

And that was true grit.

Congratulations, Therese Tucker.

One Ceiling Down and a few more to go.

This post is dedicated to every woman of every age who has put herself at risk to follow her dreams — whether as an entrepreneur or something else.

Image credit: California Community Foundation

Leave a Reply

RSS2 Subscribe to
MAPping Company Success

Enter your Email
Powered by FeedBlitz
About Miki View Miki Saxon's profile on LinkedIn

Clarify your exec summary, website, etc.

Have a quick question or just want to chat? Feel free to write or call me at 360.335.8054

The 12 Ingredients of a Fillable Req

CheatSheet for InterviewERS

CheatSheet for InterviewEEs

Give your mind a rest. Here are 4 quick ways to get rid of kinks, break a logjam or juice your creativity!

Creative mousing

Bubblewrap!

Animal innovation

Brain teaser

The latest disaster is here at home; donate to the East Coast recovery efforts now!

Text REDCROSS to 90999 to make a $10 donation or call 00.733.2767. $10 really really does make a difference and you'll never miss it.

And always donate what you can whenever you can

The following accept cash and in-kind donations: Doctors Without Borders, UNICEF, Red Cross, World Food Program, Save the Children

*/ ?>

About Miki

About KG

Clarify your exec summary, website, marketing collateral, etc.

Have a question or just want to chat @ no cost? Feel free to write 

Download useful assistance now.

Entrepreneurs face difficulties that are hard for most people to imagine, let alone understand. You can find anonymous help and connections that do understand at 7 cups of tea.

Crises never end.
$10 really does make a difference and you’ll never miss it,
while $10 a month has exponential power.
Always donate what you can whenever you can.

The following accept cash and in-kind donations:

Web site development: NTR Lab
Creative Commons License
This work is licensed under a Creative Commons Attribution-NoDerivs 2.5 License.