October 7, 1957 |
Bombay (now Mumbai), India
|Occupation||Chairman, CEO and Founder,
|TIBCO Software, Inc. Official Vivek Ranadive bio|
Vivek Ranadivé (Marathi: विवेक रणदिवे) (born October 7, 1957) is an Indian businessman, engineer, author, speaker and philanthropist. Ranadivé is the founder and CEO of TIBCO, a multi-billion dollar real-time computing company, and is credited with digitizing Wall Street in the 1980s with his first company, Teknekron Software Systems. Ranadivé is also the leader of the ownership group for the Sacramento Kings in the National Basketball Association (NBA).
Early life and education
Ranadivé grew up in the Juhu area of Bombay (now Mumbai), India and was the youngest of three children. As a child, one of Ranadivé's dreams was to attend the Massachusetts Institute of Technology (MIT), which he learned of through a documentary on the institution. Described as "a true visionary in a valley full of seers," by the August 10, 2004 issue of Information Age, he was inspired at the age of 17 to leave India to pursue an education in the United States of America. At 16, Ranadivé was accepted to MIT, but in the 1970s the Indian government did not release foreign currency for citizens to study abroad. Ranadivé talked his way into the office of the Reserve Bank of India and got the required foreign exchange for one quarter of the tuition and less than $100 in pocket to land in Boston.
After earning both a Master's and Bachelor's Degree in Electrical Engineering from MIT, he obtained an MBA from Harvard University in 1983 where he was a Baker Scholar. While still in college at MIT, Ranadivé started his first company, a UNIX consulting company. He also held management and engineering positions with Ford Motor Company, M/A-Com Linkabit and Fortune Systems immediately after college.
Teknekron Software Systems
Teknekron Corp., a technology incubator, provided $250,000 in seed capital to Vivek Ranadivé in 1985; in 1986, Teknekron Software Systems was born. Frustrated by how software seemed to always under-deliver, while hardware was always on time and under budget, Ranadivé set out to build software based on the premise of a "Software Bus" (which later became known as "The Information Bus," a.k.a. TIB). In technology, a "bus" is the standard data highway by which various elements communicate (in a computer system, this refers to the communication between the CPU, the memory, the I/O devices, etc.). The Software Bus concept would allow for the tight coupling of applications. In 1987, Teknekron Software Systems was spun off into an independent company.
In 1986, Teknekron embarked on a consulting project with Goldman Sachs to redefine the trading floor of the future. In 1992, Price Waterhouse technology partner Keyur Patel led the first design and deployment of TIB architecture to revolutionize the trading floors for real time international transactions, leading the way for Next Computers into Wall Street floors. TIB-K became the first platform for Wall Street trading technology. " In 1987, the first TIB — for the integration and delivery of market data such as stock quotes, news and other financial information — went live at Fidelity, followed by First Interstate Bank and Salomon, eventually digitizing all of Wall Street. Teknekron was later acquired by Reuters in 1994 to expand its use of the Information Bus in the financial services markets.
In 1997, Ranadivé founded TIBCO Software Inc. with funding from Cisco and Reuters. He began to apply the real-time software that he developed at Teknekron to other industries; in TIBCO's first year, they crossed $50 million in revenue and teamed with CBS Sportsline to enable real-time news of all major sporting events, including the NFL, NBA and PGA. In 1999, TIBCO's revenues were $100 million, leading them to file for an IPO on the NASDAQ.
Currently, TIBCO is active in a wide range of markets including retail (FedEx and Amazon.com), manufacturing, financials (Chicago Mercantile Exchange, NASDAQ and Goldman Sachs), the military (the Department of Defense, United States Department of Homeland Security), airlines (Delta) and tech companies (iPhone activation with AT&T, eBay). By 2011, Ranadivé had grown TIBCO's annual revenues to $920 million and its customer base to 4,000.
Golden State Warriors
Ranadivé is a longtime basketball fan, which started when he coached his daughter's middle-school basketball team. The team played in the national championship and Ranadivé's coaching success was documented by Malcolm Gladwell in The New Yorker. In 2010, Ranadivé became the co-owner and vice chairman of the Golden State Warriors, making him the first person of Indian descent to own an NBA franchise.
On March 21, 2013, it was announced that Ranadivé has joined Ron Burkle and Mark Mastrov to be a major investor in the attempt to purchase the Sacramento Kings of the National Basketball Association. In order for Ranadivé to purchase the Kings, he will need to sell his share of the Golden State Warriors.
On May 16, 2013, it was announced that the Ranadivé lead ownership group came to an agreement with the Maloof family to purchase 65 percent of the Kings for approximately $348 million and will keep the Sacramento Kings in Sacramento. The NBA approved the sale on May 28, and the deal was expected to close shortly thereafter. On May 31, 2013, escrow was closed on the sale of the Kings to the Ranadivé-led ownership group. The transaction valuation of $534 million set a new NBA record. From the start of his tenure as owner, Ranadivé set about applying concepts of big data and social networking to strengthen the Kings' fanbase.
At the 2012 World Economic Forum in Davos, Ranadivé, along with WEF's founder and chairman Klaus Schwab, launched TopCom, a private social network for world leaders. Ranadivé's goal is to "unlock the collective wisdom of the world's best and brightest" with TopCom, which is a highly-secure version of TIBCO's social networking platform tibbr. Users of the network, which has been described as a combination Facebook, Twitter, e-mail, texting and Skype, can hold group video conferences, ask questions and discuss ways to solve world issues.
In 1999, Ranadivé published The Power of Now with a foreword by Sun Microsystems co-founder Scott McNealy which details how winning companies sense and respond to change using real-time technology. The book was a New York Times bestseller.
In 2006, Ranadivé published The Power to Predict with a foreword from FedEx founder Frederick W. Smith which explores how companies can break new ground in their quest to anticipate customers' needs, capture new opportunities, and predict and avoid problems. The book was an international bestseller and was profiled in Forbes, Harvard Business School and The Wall Street Journal's SmartMoney.
In 2011, Ranadivé published The Two-Second Advantage: How We Succeed by Anticipating the Future–Just Enough, which reveals how our understanding of human mastery is being applied to the way computers "think." The book was a New York Times, Wall Street Journal and USA Today bestseller and was reviewed positively by David Stern and Marc Andreessen.
Ranadivé has three children: Aneel, Andre, and Anjali. He enjoys playing golf, cycling, tennis, hiking, and has a black belt in Tae Kwon Do. Ranadivé, along with TIBCO's director of business development, former NFL running back Roger Craig, used to coach his daughter's national runner-up junior basketball team.
- 2005 Wharton Infosys Business Transformation Award (WIBTA): North America Technology Change Agent Award
- InfoWorld's 2002 Top Ten Technology Innovators
- 2002 Ernst & Young Software Entrepreneur of the Year
- 2008 South Asian CEO of the Year by the South Asian MBA Association (SAMBAA)
- D'Agostino, Ryan. The Man Who Knows Everything. Esquire. January 19, 2012.
- Gladwell, Malcolm. How David Beats Goliath. The New Yorker. May 11, 2009.
- World Economic Forum Davos 2012: Vivek Ranadive launches social networking site TopCom for leaders to interact. Economic Times. January 26, 2012.
- Vivek Ranadivé. NBA.com.
- Vivek Ranadive, CEO of TIBCO Software. San Jose Mercury News. September 19, 2011.
- The Most Influential Global Indians. GQ.
- Naik, Shivani. Indian is co-owner of US's top NBA side. Indian Express. April 7, 2011.
- Master of his own destiny. Express Computer.
- Corcoran, Elizabeth. The Big Deal: Tibco. Forbes. June 16, 2009.
- Profile: Vivek Ranadivé. Harvard Business School Bulletin.
- Vivek Ranadivé. San Francisco Business Times. September 9, 2007.
- Levermore-Rich, Adam. Tapping into the need for speed TIBCO's software quietly powers the Internet. Palo Alto Weekly. June 27, 2001.
- Roush, Wade. The Two-Second Advantage: Talking with TIBCO’s Vivek Ranadivé. Xconomy. October 28, 2010.
- The Boys Are Back in Town; Tibco Rides the Finance Trail Again. A-Team Group. July 1, 2004.
- Goldman To Roll Out Teknekron's 'Middleware' Transaction Platform. Risk.net. March 25, 1996.
- Fisher, Lawrence M. COMPANY NEWS; Reuters Is Buying Teknekron. The New York Times. December 18, 1993.
- TIBCO: Through the Years. TIBCO.
- Tibco Provides Net's Guts So Others Get Glory. San Francisco Chronicle. September 27, 1999.
- Luening, Erich. Tibco to connect companies to online exchanges. CNET. April 17, 2000.
- Tibco raises estimated IPO stock price. CNET. July 13, 1999.
- McGuire, Craig. TIBCO Full Speed Ahead Following IPO. Wall Street & Technology. August 20, 1999.
- TIBCO’s Vivek Ranadivé on the “Death of Science,” the Rise of Pattern Recognition, and the Power of Data in Basketball. Xconomy. August 10, 2011.
- TIBCO's Vivek Ranadive: Software Can Replace The Fed. Forbes.
- TIBCO Software, Left Behind?. Mad Money.
- TIBCO Software Grows Total Revenue by 20% Over Q4 2010. TIBCO. December 21, 2011.
- Ciaccia, Chris. Tibco Tops Wall Street Profit View by Nearly 20%. The Street. December 21, 2011.
- Abramson, Ronna. Tibco CEO Sets Big Goals. The Street. March 18, 2004.
- Simmons, Rusty. Owner Ranadive pushes technology for Warriors. The San Francisco Chronicle. January 30, 2012.
- Vivek Ranadivé is the First Desi NBA Team Owner. Desi Hits.
- Alums Bring Big Data to the NBA Slice of MIT. January 5, 2014.
- Payrolls Jump Casts Doubt on Fed's Rate Pledge: Economy. Bloomberg Businessweek. February 3, 2012.
- Newcomb, Alyssa. A Social Network For The 1 Percent. January 24, 2012.
- Frank, Robert. The 70 Billionaires at Davos. The Wall Street Journal. January 25, 2012.
- Connolly, Ellen. Only billionaires need apply... 'Facebook' for the world's richest 200 people launched. Daily Mail. January 24, 2012.
- Purewal, Sukhjit. 'Why hire people who agree with you?'. Rediff. June 25, 2001.
- About the Author. The Power of Now.
- Predictive Business. Chief Executive Officer. August 2, 2006.
- Video: Predicting With Precision. Forbes. March 22, 2006.
- Silverstone, Sean. The Power to Predict. Harvard Business School. March 6, 2006.
- Brown, Paul B. How to Read the Tea Leaves. CIO Insight. February 6, 2006.
- The Power to Predict. SmartMoney.
- Gallant, John. TIBCO CEO: How Real-Time Computing Will Change the Landscape. Computer World. September 20, 2011.
- Timm, Jordan. Anticipation science: how to stay two seconds ahead. Canadian Business. October 6, 2011.
- McKendrick, Joe. The 'two-second advantage': real time gets real for many organizations. ZDNet. May 16, 2010.
- HARDCOVER ADVICE & MISC. New York Times. September 25, 2011.
- The two-second advantage in business. The Economic Times. July 11, 2011.
- The Two-Second Advantage: How We Succeed by Anticipating the Future--Just Enough. Amazon.com.
- The Two-Second Advantage. USA Today.
- Gladwell, Malcolm (11 May 2009). "How David Beats Goliath". Retrieved 2 December 2012.
- "Past winners of the award". Infosys Technologies Ltd. Retrieved 16 October 2012.
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