Calix VP Jumps Ship
Walsh, who was the face of Calix's marketing machine for the last six years or so, left the access company to join stealthy startup Zeugma Systems Inc.
Why would Walsh make such a jump? When asked, he said the real secret is that the company is in Vancouver. "I like to ski when I get the chance, and that's some of the best skiing in North America, maybe in the world," Walsh says.
But seriously, Walsh says the move is "not about Calix, per se, but more for personal reasons." That includes a desire to be a part of another early-stage company and helping to build the company from scratch. [Ed. note: And this one might someday IPO. No, really.]
"Most of my career has been in startups. When you work in a startup, you ride them to a certain point, and hopefully they go public or they're acquired by someone, and if not you get back in the saddle and join another startup," Walsh says.
Calix is famous for its status as a private company. As Walsh points out, the access vendor has been rumored to be going public for almost as long as it has been around. (See Light Reading's Top Ten Private Companies and Calix IPO Talk Resurfaces.)
That hasn't changed, says Calix director of marketing and new company spokesperson Geoff Burke. Despite a $57.5 million funding round last summer -- which brings total funding well over $300 million -- the company is in no rush to IPO. (See Calix Gets More Funding.)
"Calix always stands ready to IPO," Burke says. "But the realities of the market are that there are not a whole lot of advantages to being a public company."
Little is known about Zeugma, Walsh's new company. The company Website says it's creating "intelligent solutions for next generation broadband networks". [Ed. note: What? It's not Web 2.0?]
Whatever it is, investors are buying into its story. Zeugma recently raised a $22.5 million B round of financing led by Israeli firm Vertex Venture Capital. That brings total funding to $38.25 million. (See Stealthy Zeugma Pockets $22.5M, Zeugma Raises $22.5M, Zeugma Scores $2.25M, and Zeugma Gets $13.5M for Mystery Box.)
Walsh would only say that Zeugma is "not competing with Calix, but complementing what Calix does, and that is looking at ways to better manage and monetize over-the-top video traffic coming across IP networks."
— Ryan Lawler, Reporter, Light Reading