TiE Pittsburgh Presents: Wombat Security Technologies: How We Got to a $225M Exit By Phishing Our Customers

Nov 29, 2018
05:30 PM - 08:00 PM

  • Carnegie Mellon University,

  • Swartz Center for Entrepreneurship, Tepper Quad - 3rd Floor, 4765 Forbes Avenue

  • Pittsburgh

SOLD OUT

This event has ended. Please contact organizer for more details.

Overview

By 2008, phishing had become a major scourge, costing companies several billion dollars a year. Products  offered by cybersecurity vendors failed to recognize the crux of the problem, namely all those users who were falling for phishing attacks. Over the previous few years, my co-founders and I had embarked on a research project at Carnegie Mellon University to develop more effective solutions, namely solutions that addressed the human element in these social engineering attacks. Our approach involved training users by sending them fake phishing emails. We incorporated Wombat Security Technologies in June 2008. Over the following ten years, our solutions became the de facto standard for training users to not fall for phishing attacks and also formed the basis for a comprehensive line of anti-phishing and cybersecurity training products. By late 2017, the company had well over 2,000 corporate customers around the world, including many global Fortune 1000 companies. In February 2018, we sold Wombat for $225M in cash to Proofpoint (NASDAQ:PFPT). This presentation will go over the company’s history, its growth over the years, and some lessons learned.

Keynote Speaker

Norman Sadeh

Norman Sadeh

Professor & Entrepreneur

Dr. Norman Sadeh served as founding CEO of Wombat Security Technologies and continued as Chairman and Chief Scientist until the company’s acquisition. Together with his collaborators, he grew Wom...

Venue

Carnegie Mellon University,

Swartz Center for Entrepreneurship, Tepper Quad - 3rd Floor, 4765 Forbes Avenue ,Pittsburgh

Review

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