"Good Technology raised $425M, was about to IPO, sold to BlackBerry. BlackBerry killed the product within a year."
$425M
RAISED
—
EMPLOYEES
240
MONTHS
acquisition gone wrongAcqui-hire
// Fatal mistake: Acquired by direct competitor whose strategic interest was eliminating the product
Key Events Timeline
1996-01
FOUNDING
Good Technology founded in Sunnyvale, CA, initially focused on wireless data synchronization for enterprise mobile devices
2007-05
PRODUCT LAUNCH
Good for Enterprise launched as a secure mobile email and PIM container app for smartphones, becoming the company's core revenue product
2014-08
PRODUCT LAUNCH
Good Technology files S-1 for IPO on NASDAQ seeking $100M raise, disclosing $425M total venture funding raised and persistent net losses exceeding $100M annually
2015-02
DOWN ROUND
Good Technology withdraws IPO filing after market conditions deteriorate; company had been valued at over $1B but investor appetite for unprofitable enterprise SaaS collapses
2015-09
ACQUISITION ATTEMPT
BlackBerry acquires Good Technology for $425M — far below the company's peak $1B+ valuation; debt obligations consume proceeds, wiping out equity for most common shareholders and employees holding stock options
2016-03
LAYOFF
BlackBerry announces mass layoffs of Good Technology staff following integration review, eliminating hundreds of positions as BlackBerry moves to consolidate the Good platform into BES12
2016-06
SHUTDOWN
BlackBerry discontinues Good Technology's product line and the Good Technology brand ceases to exist; thousands of enterprise customers forced into costly migrations to BlackBerry's BES platform
🔥 Hall of Flame 48%🏆 Hall of Fame 40%
Good Technology was an enterprise mobility management (MDM) company — its flagship product, Good for Enterprise, allowed employees to securely access corporate email, contacts, and apps on personal smartphones.
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Documented cause · Market cycle · Competitive moat type · Verified lesson
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