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<ul class="summary-list"><li><keyword id="6390344" type="UNKNOWN" weightage="60" keywordseo="CISCO">Cisco</keyword> plans to buy a startup called <keyword id="9308252" type="UNKNOWN" weightage="60" keywordseo="thousandeyes">ThousandEyes</keyword>, it announced on Thursday.</li><li>The acquisition marks a natural fit for the network equipment giant: ThousandEyes offers a service that watched the whole internet to help companies avoid outages and service problems.</li><li>ThousandEyes is used many big-name tech companies and said it had $100 million under contract for its 2020 fiscal year.</li><li>Terms of the deal were not disclosed but ThousandEyes had an estimated valuation of $670 million a year ago. Bloomberg reported that the deal could be valued at "nearly" $1 billion.</li><li>ThousandEyes is an unusual success story because its founders launched with almost no money and investors came after them, not the other way around, its founder and CEO once told us.</li></ul><p>Cisco announced on Thursday that it plans to buy a 400-employee startup called ThousandEyes, though it didn't disclose the terms of the deal.</p><p>ThousandEyes is an interesting startup, that has made a name for itself with its service that watches pretty much the whole internet to help companies figure out the source of performance problems of websites and web-based apps. For instance, it can determine if an outage is the company's fault or that of its service providers.</p><p>While Cisco wouldn't say what it plans to pay, ThousandEyes has raised a total of about $111 million with an estimated valuation of $670 million as of February 2019, <a href="https://my.pitchbook.com/profile/57553-12/company/profile#insights">according to Pitchbook.</a> Bloomberg previously reported that the deal could be valued at "nearly" $1 billion.</p><p>On March 5, right before COVID-19 caused much of America to start working from home, ThousandEyes reported <a href="https://www.thousandeyes.com/press-releases/fiscal-year-2020-growth-momentum">that it had $100 million worth of revenue</a> under contract for its 2020 fiscal year — representing growth of almost 80% year-over-year. Because ThousandEyes is a private company, we have no insight into whether the COVID-19 crises helped or hurt its business, but it is the kind of service that should be in more demand because of the economic crisis; not less so. And some of its customers include companies like Microsoft, Slack, Box, Okta, Comcast and other big names who are booming in these troubled times.</p><p>ThousandEyes founder CEO Mohit Lad <a href="https://blog.thousandeyes.com/cisco-announces-intent-to-acquire-thousandeyes/">says in a blog post that its discussions</a> with Cisco had been in the works over the past year, as the startup looked to coordinate with Cisco and another of its units, AppDynamics, more closely. ThousandEyes has not held significant layoffs in the wake of the crisis, <a href="https://layoffs.fyi/tracker/">according to Layoff.fyi</a>, and still had a few dozen jobs open, so there's no indication that this was a fire sale.</p><p>In fact, the two companies held <a href="https://video.cisco.com/video/6159475137001">a call for media and analysts </a>discussing the deal. </p><p>ThousandEyes is a natural fit for Cisco, which plans to tuck the company into its <keyword id="6356323" type="UNKNOWN" weightage="100" keywordseo="enterprise">Enterprise</keyword> Networking and Cloud and AppDynamics cloud services. It comes as Cisco continues to build out an subscription software empire to go alongside its enterprise network hardware one.</p><h2>An unusual success story</h2><p>So, while we don't know for sure whether or not the acquisition will prove a financial windfall for the founders of ThousandEyes, we do know that theirs is an unusual success story, founded under atypical circumstances for Silicon Valley. </p><p>The company started up in 2010 by founders Mohit Lad and Ricardo Oliveira, colleagues from the UCLA computer science department, who had an idea of how to track down and avoid pesky web performance problems. Their idea was to watch the whole internet to make sure that problems in one part of the global network didn't cause trouble for the businesses that rely on it.</p><p>In order to see the whole internet and measure it very precisely, they couldn't be using the very same <keyword id="6373689" type="UNKNOWN" weightage="60" keywordseo="Cloud-computing">cloud computing</keyword> services they were monitoring, like Amazon Web Services. They had to have control over their own computers and equipment, and so they had to have their own data center. But building a data center is pricey, and they didn't have any money — but they also didn't want to spend their time trying to find investors.</p><p>So they landed a $150,000 grant from the National Science Foundation, and scavenged free computer servers out of the recycle bins from big corporations. The grant was doled out in small portions, forcing them to show progress with their work. Their original customer acquisition plan was to watch people complaining on Twitter about outages, then approach those companies with the data on the cause and how to fix it.</p><p>They landed some big customers and learned to run a cash-savvy businesses and VCs heard about them and came knocking, <a href="https://www.businessinsider.com/how-thousandeyes-grew-up-from-discarded-computers-2016-11">Lad told Business Insider</a> back in 2016, when the company had 130 employees and was doubling revenue annually. </p><p>Cisco says that the purchase will close sometime before the first quarter of its fiscal year 2021. Cisco is currently in the fourth quarter of its fiscal 2020. Its Q1 FY21 runs from August through October.</p><p><em>Are you a Cisco insider with insight to share? Contact Julie Bort via email at </em><a href="mailto:jbort@businessinsider.com"><em>jbort@businessinsider.com</em></a><em> or on encrypted chat app Signal at (970) 430-6112 (no PR inquiries, please). Open DMs on Twitter </em><a href="https://twitter.com/Julie188"><em>@Julie188.</em></a><em>  </em></p><ul class="read-more-links"><li>Now read:</li><li><a href="https://www.businessinsider.com/after-layoffs-uber-exec-sold-half-her-shares-86-million-2020-5">Days after layoffs, an Uber exec sold over half her Uber stock for $8.6 million, while cofounder Garrett Camp has sold $69.6 million in stock since March 12</a></li><li><a href="https://www.businessinsider.com/cows-were-causing-mysterious-google-outages-2020-5">Cows were causing mysterious Google outages, according to a funny story shared by the company's data center engineering mastermind Urs Hölzle</a></li><li><a href="https://www.businessinsider.com/the-future-of-work-isnt-remote-its-dynamic-okta-ceo-2020-5">The corporate office as we know it is dead — long live the 'dynamic' workplace, says a CEO who's been experimenting with this new concept for a year</a></li></ul>Read the original article on <a href="https://www.businessinsider.com/cisco-thousandeyes-acquisition-network-security-2020-5">Business Insider</a>

Cisco is buying 400-employee startup ThousandEyes, which launched by using thrown-away computer servers and an unusual source of seed money

<p>Good morning! This is the tech news you need to know this Friday.</p><ol><li><strong><a href="https://www.businessinsider.com/trump-signs-executive-order-threatening-twitter-facebook-conservative-bias-2020-5">Trump signed an executive order threatening social media companies after Twitter fact-checked his tweets</a>.</strong> The move comes two days after Twitter fact-checked two of Trump's tweets pushing false claims about voting by mail.</li><li><strong><a href="https://www.businessinsider.com/fake-headlines-mark-zuckerberg-satire-test-facebook-policies-2020-5">Satirical websites are testing Facebook's policy on not being the 'arbiter of truth' by running false headlines claiming Mark Zuckerberg is dead or abusive</a>.</strong> The websites shared satirical articles with fictional headlines about CEO Mark Zuckerberg to Facebook on Wednesday.</li><li><strong><a href="https://www.businessinsider.com/house-cancels-vote-fisa-patriot-act-bill-trump-veto-2020-5">The House ditched a bill that would renew and expand the FBI's surveillance powers after Trump threatened to veto it</a>.</strong> The bill drew backlash last week from progressives and civil liberties groups, who warned it would let the FBI conduct warrantless searches of Americans' web-browsing history.</li><li><strong><a href="https://www.theverge.com/2020/5/28/21273388/aclu-clearview-ai-lawsuit-facial-recognition-database-illinois-biometric-laws">The ACLU has sued facial recognition firm Clearview AI, calling the facial recognition firm a 'nightmare scenario' for privacy</a>.</strong> The American Civil Liberties Union alleges that the company violated a well-known biometric privacy law in Illinois by storing user data, the Verge reported. </li><li><strong><a href="https://www.businessinsider.com/rony-abovitz-stepping-down-as-magic-leap-ceo-2020-5?op=1">Rony Abovitz is stepping down as Magic's Leap CEO, describing the move as 'a natural next step</a>.'</strong> The announcement comes just a few weeks after the company cut half of its staff and made a pivot to enterprise after raising fresh funds. </li><li><strong><a href="https://www.businessinsider.com/cisco-thousandeyes-acquisition-network-security-2020-5">Cisco is buying 400-employee startup ThousandEyes, which launched by using thrown-away computer servers</a>.</strong> ThousandEyes is used many big-name tech companies and said it had $100 million under contract for its 2020 fiscal year.</li><li><strong><a href="https://www.reuters.com/article/us-bytedance-tiktok-exclusive/exclusive-tiktok-owner-bytedance-moves-to-shift-power-out-of-china-sources-idUSKBN2341VJ">ByteDance, the owner of the hugely successful app TikTok, is set to move some of its decision making power outside of China</a>.</strong> The company recently brought in Disney's Kevin Mayer to be its CEO and is set to look outside of China amid increasing global tensions, Reuters reported. </li><li><strong><a href="https://www.bloomberg.com/news/articles/2020-05-29/softbank-hands-new-roles-to-two-vision-fund-managing-partners?srnd=technology-vp">SoftBank is handing two Vision Fund managing partners new roles following the conglomerate's record losses earlier this year</a>.</strong> The group lost $18 billion recently and is under pressure from activist investor Elliott Management, Bloomberg reported. </li><li><strong><a href="https://www.bbc.co.uk/news/technology-52832791">Uber is destroying thousands of electric bikes and scooters, following the sale of its Jump business to Lime</a>.</strong> The ride hailing company recently led a fresh investment round in Lime but said it had decided to destroy thousands of its older-model vehicles due to maintenance, liability and safety concerns.</li><li><strong><a href="https://www.wsj.com/articles/senior-house-lawmakers-push-to-speed-up-broadband-funding-11590667202?mod=tech_lead_pos5">US lawmakers are pushing through legislation to speed up broadband funding after coronavirus exposed a lack of access in rural areas</a>.</strong> Senior lawmakers have proposed a $16 billion bill to speed up broadband infrastructure funding by the FCC, the Wall Street Journal reported.</li></ol><p>Have an Amazon Alexa device? Now you can hear <keyword id="9070519" type="UNKNOWN" weightage="60" keywordseo="10-things-in-tech">10 Things in Tech</keyword> each morning. Just search for "Business Insider" in your Alexa's flash briefing settings.</p><p>You can also <a href="https://newsletter.businessinsider.com/join/free">subscribe to this newsletter</a> here — just tick "10 Things in Tech You Need to Know."</p>Read the original article on <a href="https://www.businessinsider.com/10-things-in-tech-you-need-to-know-today-may-29-2020-5">Business Insider</a>

10 things in tech you need to know today

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="https://www.thousandeyes.com/about">ThousandEyes</a></span></p><p class="caption">ThousandEyes founders</p></div><p></p></div></div>ThousandEyes is one of those hot, successful startups you probably never heard of with an unusual and not-very Silicon-Valley-like history.</p><p>Founded in 2010 by CEO Mohit Lad and CTO Ricardo Oliveira from their grad school work at UCLA, ThousandEyes helps ensure that when bits of the internet go down, companies can avoid being taken down too, even if the problem is out on the internet and out of their control.</p><p>"We worked together at UCLA doing our PhDs understanding how things break the internet, and how that impacts the rest of the internet," Lad told Business Insider.</p><p>ThousandEye's customers include Twitter, Equinix, ServiceNow, eBay, DocuSign, six of the top US banks, and many of the top software-as-a-service cloud companies.</p><p>The company currently employs over 130 employees, is doubling revenue annually, with good enough cash flow that it never needed to raise venture funding just to survive, Lad told us.</p><p>And that means that VCs have been tripping over themselves to invest. ThousandEyes has taken $60.5 million of investment over three rounds, at a valuation of $273 million after the last round in February, <a href="https://my.pitchbook.com/#page/profile_1028565235">according to PitchBook.</a></p><p>And it all began with a bunch of computer servers that the founders scrounged out of big corporate electronics recycling bins and from a second-hand computer store in Sunnyvale <a href="http://www.weirdstuff.com/">known as Weird Stuff.</a></p><h2>Big idea, no money</h2><p>When they came up with their idea to build a brand new kind of network monitoring software, one that could watch the whole internet and not just one company's internal network, they quickly realized several things:</p><p>In order to see the whole internet and measure it very precisely, they couldn't be using the very same internet cloud services they were monitoring, like Amazon Web Services. They had to have control over their own computers and equipment so they had to have their own data center.</p><p>And then they realized ... </p><ul><li>Building a data center is very expensive. </li><li>They didn't have much money.</li><li>They didn't want to spend their time pitching VCs.</li></ul><p>"We could go to Sand Hill road and spend months trying to raise money, or we could try to build a product and really get it off the ground and get customers. We chose the latter route and in hindsight it was one of the best decisions we made," Lad said.</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>ThousandEyes</span></p><p class="caption">ThousandEyes CEO Mohit Lad</p></div><p></p></div></div>Instead, they applied for a grant from the National Science Foundation. That's such an unusual way to raise funds in the Valley <a href="https://medium.com/@mohitlad/seeding-your-company-with-zero-dilution-part-1-c0978f952b1a#.hktm995mz">that Lad wrote a blog post explaining it.</a> </p><p>"If you have an idea which is high risk, that has a lot of R&amp;D, the NSF tends to like it," Lad told us. </p><p>The upside of an NSF grant was that they didn't have to sell off a chunk of equity in their company to an angel investor. The downside? The money was doled out in smallish chunks every six months.</p><p>"We started in 2010 and we got about $1 million and change from them, which is a good grant. But it took two years for the whole thing to come," he said.</p><p>The grant gave them just enough money to quit their jobs and live frugally while they built their product.</p><p>But the six-month deadlines were also blessing in disguise. They had to show progress to get the next chunk of cash and they had to stay laser focused on building something good and marketable from the get-go.</p><p>"We didn't have this large seed investment that we could take to the bank and start to hire people and whiteboard a product idea. We had very little in the bank, so the entire focus of the founders and our VP of engineering at that point was around how to do you build something that the market will just adopt right away," he said.</p><h2>Driving around, picking up discarded servers</h2><p>With cash tight, they couldn't spend much on the computer servers they needed, either. Most other startups get around that by use a cloud service like Amazon Web Services, which lets them cheaply pay only for the amount of computing time they use.</p><p>Thous<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Weird Stuff</span></p><p class="caption">Weird Stuff recycled computer store</p></div><p></p></div></div>andEyes couldn't do that, so they came up with a clever idea to build their data center with computers that were older cast-offs. </p><p>"Sometimes companies would recycle servers. They would shut down a lab and put the servers in the electronic recycle area and they were up for grabs. We would just go by and pick up a few servers and load them in the trunk," he remembers, adding that they were literally driving around "picking up servers."</p><p>They also bought used servers from a place in Sunnyvale called Weird Stuff. "It used to be a common stop for us," Lad said.</p><p>They built the company's first data center in their garage with all of those old, discarded servers.</p><h2>Frustrated tweets = customers</h2><p>With the product built and hosted on their home-grown data center, the next step was to find customers. Normally, that's when a well-connected VC helps, giving introductions to enterprises willing to take a startup under their wing.</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>ThousandEyes</span></p><p class="caption">ThousandEyes employees are watching the internet</p></div><p></p></div></div>ThousandEyes didn't have any VCs. But it had something better. It was watching the internet and knew which companies were struggling to stay online ... and why.</p><p>In the early days, they would scan Twitter "to see who was having an issue, who was having an outage," Lad said.</p><p>"We would hit them up cold, and send them information on what went wrong, outside of their environment or with their ISPs, tell them why users in a certain region weren't reaching them," he said.</p><p>Impressed and in need of help, these companies began signing up as ThousandEyes customers.</p><p>By 2013, when the startup formally came out of stealth, "We had Fortune 20 companies using ThousandEyes with no prior relationship with these guys."</p><p>"It's more difficult to get customers on your own, instead of VC referrals, but the good thing is, when you get customers on your own, they will stay with you forever because you are solving a key problem for them," he said.</p><h2>Sorry Mr. VC, I don't have time to pitch you</h2><p>These customers told others about ThousandEyes and business grew quickly through word of mouth. In the summer of 2013, Lad was speaking at an industry conference where Aaref Hilaly, a VC with Sequoia, heard him and expressed interest his company.</p><p>"We weren't fund raising," Lad said but he agreed to a meeting at the VC's offices. "We told them, 'Look, we're focusing on customers so we can't really build [pitch deck] slides at this point.'"</p><p>Instead, the founders showed the VCs a demo of the product. And they walked with a $5.5 million Series A.</p><p>Lad has gone on to have two other rounds for a total of $60.5 million, all of the rounds came from "inbound" interest from VCs, Led said. ThousandEyes backers include Sutter Hill, Tenaya Capital, GV (formerly Google Ventures), and Salesforce.</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>ThousandEyes</span></p><p class="caption">ThousandEyes engineering team</p></div><p></p></div></div></p><p>"My philosophy on funding is that funding is to scale, it's not to survive. So at any point when we've gone to the [VC] market, it's because we've done some validation for the next phase of the company and we think we can take it to the next level," he said.</p><p>"What also made the fundraising easy is that the fundamentals of the business are very strong for this stage of the company. This is where that painful early bootstrapped growth actually helps, because our unit economics are very strong, our cash flow is really good," Led said.</p><p>In February, ThousandEyes took on $35 million and by August, it still hadn't touched a dime of it, Led told us. They took the money because VCs were pretty much clamoring to invest and it was easier to just take it then, then spend time looking for investors later.</p><p>"When we did our last round, we didn't need the money," he said. "We decided we should get it out of the way to focus on building the company."</p><p>Since then, ThousandEyes has launched new products, opened an office in Austin, in addition to the San Francisco headquarters and an office in London.</p><p>It no longer uses recycled servers.</p>     <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/china-world-robot-conference-beijing-artificial-intelligence-human-like-2016-10">China just showcased the world's most human-like robots, and they show how close we're coming to Westworld reality</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="QyNHh4NjE6wJdeMjoxiebeI-_J_qGCV2" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

These guys built a $273 million startup from discarded computers and an almost secret source of seed money

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Devan Joseph </span></p></div><p></p></div></div>Amazon Web Services has become so powerful that when it goes down, it takes down a large chunk of the internet with it, <a href="http://www.businessinsider.com/amazon-vp-was-on-when-aws-went-down-2017-2">as the world found out on Tuesday</a>. </p><p>Systems are back to normal on Wednesday, <a href="https://status.aws.amazon.com/">according to the company</a> and other sources that watch the Internet. Amazon has yet to offer a detailed explanation on what happened and why its S3 cloud storage service went awry. </p><p>The problem highlighted one scary thought: That one company, Amazon, and its technology, is responsible for much of the revenue in the cyber world. </p><p>During AWS's four-hour disruption, S&amp;P 500 companies lost $150 million to $160 million, according to analysis by <a href="https://www.cyence.net/">Cyence</a>, a startup that models the economic impact of cyber risk.</p><p>Specifically, web monitoring company <a href="https://www.apicasystem.com/">Apica,</a><span> which watches for internet performance issues worldwide, crunched the numbers on how AWS's downtime impacted retail sites.</span><span> It discovered that </span>54 out of the top 100 internet retailers were impacted with a decrease of 20% or greater in performance, and three websites went down completely: Express, Lululemon, and One Kings Lane.</p><p>The average website that usually requires a few seconds to load took more than 30 seconds. </p><p>Top online websites load times increased by triple digits, according to Apica:</p><ul><li>Disney Store was 1,165% slower</li><li>Target: 991% slower </li><li>Nike: 642% slower </li><li>Nordstrom: 592% slower </li><li>Victoria Secret: 353% slower</li></ul><p>"Yet Apple, Walmart, Newegg, Best Buy, Costco, and surprisingly Amazon/Zappos were not affected by the outage," an Apica spokesperson told Business Insider.</p><p>Apple does use some AWS services, although it also rather famously uses Google's cloud, too.</p><p>Amazon and its ecommerce sites like Zappos were likely spared for an easy reason: They have designed their sites to spread themselves across multiple Amazon geographic zones, so if a problem crops up in one zone, it doesn't hurt them. This is, naturally, the recommended way to use a cloud service, even for those using only the 800-pound gorilla of the cloud market, Amazon.</p><p>But it's also more complicated and more expensive, things that most other ecommerce sites would prefer to avoid.</p><p>In the meantime, take a look at this chart from ThousandEyes, a company that monitors the internet for performance problems, which shows just how dead AWS S3 became for a time.</p><p>When that AWS flatlines like that, almost the whole internet is in trouble.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://igysrybwz.share.thousandeyes.com/view/tests/?roundId=1488310800&amp;serverId=105778&amp;metric=loss&amp;scenarioId=pathVisualization">ThousandEyes</a></span></p><p class="caption">That time that AWS S3 went down, according to ThousandEyes</p></div><p></p></div></div></p><p>Amazon could not be reached for comment.</p><p class="tagline">Get the latest Walmart stock price<a href="http://markets.businessinsider.com/stock/WMT-Quote"> here.</a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/body-language-expert-analyzes-trumps-handshakes-2017-2">A body language expert analyzes Trump's unique handshakes</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="hvZGR4OTE6fDiZahuZ1zpqjivFu3kkIX" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

The massive AWS outage hurt 54 out of the top 100 internet retailers - but not Amazon

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="https://www.youtube.com/watch?v=z5biiV-NXNA">YouTube/iTPro.fr</a></span></p><p class="caption">ThousandEyes CEO Mohit Lad</p></div><p></p></div></div>There's no questions venture money is tighter in the valley. And that means more startups are struggling to cut costs are or are running out of money and failing outright.</p><p>Startups valued by their investors at over a billion are called unicorns, because they were once thought to be so rare. In 2014 and 2015, money flowed so freely, unicorns became more like cockroaches.</p><p>In 2016, a few richly-valued startups have hit rough patches.</p><p>While all of this sounds like a bad thing for the startup world, it turns out, many startup CEOs are happy and relieved about the changing environment.</p><p>That's because cash-rich startups can no longer poach their engineers by offering to double or triple their salaries and piling on bonuses and stock options. </p><p>One CEO told us he had hired some engineers away from Google only to lose them to a cash-rich unicorn who offered them a $1 million compensation package. </p><h2>Engineers getting CEO-like salaries</h2><p>At the Rutberg Future Mobile Summit, taking place in the Bay Area this week, a panel of other CEOs told similar tales.</p><p>One of them was Mohit Lad, the CEO of ThousandEyes, which offers a service that helps troubleshoot network problems for companies using cloud computing services. </p><p>"I feel good about a correction where companies can't just raise crazy money and throw crazy salaries at our employees," <span>Lad</span> said during a panel discussion at the show.</p><p>Lad, has raised about $60 million for ThousandEyes so far, including a round that closed in February, after the money started to get tight.</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Blue Jeans Network </span></p><p class="caption">Blue Jeans Network CEO Krish Ramakrishnan</p></div><p></p></div></div>He said that employees have gotten duped by the situation too. Three of his employees got poached by a newly funded, cash-rich startup and wound up unemployed months later, when the startup couldn't sustain itself and coudn't raise more money in this environment.</p><p><span>Lad had to </span>change hiring tactics during the boom. </p><p>"We never want to be the highest-paid offer that comes in. We want to be second best. I don't want them to come to the company because we're paying the most. I want them to come because it's a mission they believe in, and once here, we take care of employees so they are always happy."</p><p>The strategy has worked. One of his engineers was offered double his salary by a startup some months ago but turned it down. "He stayed and is doing well," Lad said.</p><p>BlueJeans Network CEO Krish Ramakrishnan, also on the panel, agreed. "For companies with strong fundamentals, this is the best thing we could ask for. Employees aren't moving to unicorns offering things like free massages."</p><p>He said that some engineers were being offered "CEO like" salaries to join startups. </p><p>BlueJeans offers a cloud videoconferencing service and has raised its fair share of money about $175 million, including a $76 million round last fall, right as things started to get tight.</p><p>Ramakrishnan says that normal engineering salaries aren't coming down. The big, established companies like Google and Facebook are still paying top dollar and keeping competition high.</p><p>But the crazy double or triple salary poaching offers have abated, he said.</p><h2>Bye-bye copycats</h2><p>Meanwhile, Dan Teran, CEO of Managed by Q, says that for startups that have good revenue growth and cash-flow, investment is still available. </p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Managed By Q</span></p><p class="caption">Managed by Q founders Saman Rahmanian (left) and Dan Teran (right).</p></div><p></p></div></div>It just takes more convincing to get VCs to bite.  Managed by Q is a two-year old startup for office management services in New York like janitorial services, catering, snack stocking, and office supplies.</p><p><span>Teran has </span>raised over $42 million so, including a $25 million series B round that closed in April. One of its investors is Google Ventures who had backed a company called HomeJoy, a similar marketplace for hiring cleaning and maintenance people. <a href="https://www.entrepreneur.com/article/248579">HomeJoy closed its doors last fall.</a></p><p>"Google Venture had just had HomeJoy eat the dust. It had raised a ton of money and really crashed and burned. The partners in the room grilled me," Teran recalls. "But we had strong fundamentals."</p><p>Since Managed by Q has become a buzzy startup in New York he says he's seen a handful of "copycat" competitors launch and struggle to raise money. And that's another reason "a tight market works to our advantage," he says.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/ultra-ergonomic-keyboard-top-choice-power-programmers-kinesis-advantage-pro-2016-5">This unconventional keyboard is a must-have for power-programmers</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="l3NGp1MzE6jg8HnXY7rWAsU-Czw1T2Qb" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

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