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“…started his company with no funding in 2002 and it sold for $46M 8 years later.”
That would be a pretty sweet press release to write about your company, wouldn’t it? Well, that’s the story of SPADAC founder Mark Dumas, who sold his company to GeoEye, Inc. (NASDAQ: GEOY) in 2010. Join top entrepreneurs from around the area on Monday, April 23rd, as the National Capital Region Entrepreneurs Forum welcomes Mark as our next speaker!
Mark started SPADAC by himself in mid-2002 with no funding and started serving the Department of Defense and the Intelligence Community. By late 2003 he brought on another founder – VP Jim Stokes – and the company grew to about 12 employees by mid-2004. In 2007 he raised about $6.5M in venture capital and he used that to grow his company to over 150 employees by the time he sold SPADAC for $46M in cash and stock in December of 2010.
SPADAC (now GeoEye Analytics, Inc, a wholly owned subsidiary of GeoEye, Inc.) has analysts located in places such as Hawaii, Florida, Germany, and the Washington, DC area. They are well-regarded as one of the best in the industry and pioneers in geospatial intelligence. Part of the company’s success has roots in Mark’s personal affinity for geospatial modeling, where he has devoted a great deal of his professional career. Many of the company’s initial contracts, initial software development, and client engagements were directly led by Mark, culminating in him being presented a civilian award for excellence from then-Maj. General Stanley McChrystal in 2005. Besides growing to 150 employees and attracting venture capital, Mark led the company through two acquisitions, made some bold moves to take the company through the 2008 market pullback, and ran a process where SPADAC was coveted by many suitors to (culminating in the purchase by GeoEye).
Prior to SPADAC and at the height of the dot-com bubble, Mark was a Senior Software Architect for a startup called MercExchange. MercExchange attempted to compete with Ebay with a variant of real-time dynamic pricing, something akin to a stock market for goods and services. The company never competed with Ebay but ultimately nabbed them at the Supreme Court with its patents.
Prior to MercExchange, Mark had a 4-year run at SAIC in Washington, D.C. – the company that would hire him out of Mississippi State University (MSU) and propel him into the Defense world of the Washington beltway.
A 1996 graduate of MSU’s Bagley College of Engineering (where he has been a frequent guest speaker), Mark was recently recognized as a Distinguished Fellow alumnus for 2012. An avid Bulldog, Mark and his family have endowed MSU’s Entrepreneurship Program with a 5-year grant to incentivize creative thinking in the hopes of creating future leaders.
Mark currently serves as the VP of Special Projects at GeoEye, Inc., where he handles strategic items for the Senior Executives. His duties include supporting M&A, strategic planning, and investments.
Originally from Memphis, TN, Mark now lives in Great Falls, Virginia and is married to Christina Dumas. Together they have 4 children: Maxwell, Sophia, Alex, and Teddy.
When & Where
The Growth Coach - National Capital Region
WHAT WE DO: We help businesses grow or turnaround. Here are a few examples of what that means:
- "Door opening" and technology business development consulting
- Increased revenue and profitability
- Improved scalability (ability for the business to handle growth)
- Improved sustainability (reduced reliance on key people or vendors)
- Better metrics and oversight / management of organization-wide operations
- Improved insight and management into financial operations
- Improved sales operations
- Improved marketing
- Improved morale & teamwork
- Better quality of life for CEO (more time / income)
- Increased business value
WHERE YOU’VE SEEN US: National contributor to the Business Journals. Speaker. Business Coach. Interim Executive
WHOM WE HELP: Most of my clients are / have been business owners, but I have also worked with senior leaders / executives of federal agencies and large businesses. My SMB clients tend to have sales between $1M-$25M and have 1 or more of the following concerns:
- Sales growth has slowed
- Hasn't had a 1-week long, 100% work-free vacation in a long time
- Feels like a prisoner to his/her business – impacting health, social life, etc.
- Seems like there are quite a few employee-related problems (back stabbing, insubordination, lots of sick days, etc.)
A few of our clients are:
- Capital One
- National Oceanic and Atmospheric Administration (NOAA)
- Northrop Grumman
- Lore Systems
- Applied Systems Intelligence
- Defense Intelligence Agency
- Apex Home Loans
- Philadelphia Gas Works
- Chesapeake Utilities
- Kirkland & Ellis
HOW IT WORKS: How I help my clients (more details at www.DCGrowthCoach.com):
- New Business Development
- Interim COO/CFO
- Business, Executive, & Sales Coaching
- Business Optimization