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Case
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Reference no. IMD-7-1819-ZH
English language with Simplified Chinese subtitles
Published by: International Institute for Management Development (IMD)
Originally published in: 2019
Version: 02.09.2019
Length: 11 pages
Data source: Field research

Abstract

This is a Simplified Chinese version. After developing powerful software, young entrepreneurs Raffael Maio and Joel Winteregg, founded NetGuardians in 2007. Their initial idea was to help companies improve security. (i) Over time, the two entrepreneurs improved their technology and decided to focus on defeating and preventing fraud in banking, where there was a gap in the market. In 2014 around USD67 billion was lost due to banking fraud, 70% of it committed by employees inside the company. In 2015 the company was named a Gartner Cool Vendor, a worldwide industry recognition for companies that offer technologies or solutions that are innovative, impactful and intriguing. (ii) In the nine years since they had founded their company, Joel and Raffael had raised USD6 billion in two rounds of funding. The company employed around 30 people in R&D offices in Kenya, Singapore and Poland. It had customers in Africa, the Middle East and Europe, and was breaking ground in Asia. (iii) Now it was time for NetGuardians to tackle some important strategic decisions: Should the company expand to other markets? Should it expand its product offering? Or should it focus on growing its customer base? (iv) Whatever the decision, it would lead to a change in business model that would have a significant impact on the company.
Locations:
Size:
30 employees
Other setting(s):
2007-2016

About

Abstract

This is a Simplified Chinese version. After developing powerful software, young entrepreneurs Raffael Maio and Joel Winteregg, founded NetGuardians in 2007. Their initial idea was to help companies improve security. (i) Over time, the two entrepreneurs improved their technology and decided to focus on defeating and preventing fraud in banking, where there was a gap in the market. In 2014 around USD67 billion was lost due to banking fraud, 70% of it committed by employees inside the company. In 2015 the company was named a Gartner Cool Vendor, a worldwide industry recognition for companies that offer technologies or solutions that are innovative, impactful and intriguing. (ii) In the nine years since they had founded their company, Joel and Raffael had raised USD6 billion in two rounds of funding. The company employed around 30 people in R&D offices in Kenya, Singapore and Poland. It had customers in Africa, the Middle East and Europe, and was breaking ground in Asia. (iii) Now it was time for NetGuardians to tackle some important strategic decisions: Should the company expand to other markets? Should it expand its product offering? Or should it focus on growing its customer base? (iv) Whatever the decision, it would lead to a change in business model that would have a significant impact on the company.

Settings

Locations:
Size:
30 employees
Other setting(s):
2007-2016

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