FT Start-Up Stories Europe's tech pioneer
Aug 14, 2017
Bernard Liautaud, a trailblazing serial entrepreneur, founded Business Objects, the first French software firm to go public in the U.S. He shares insights on launching his startup, overcoming cultural hurdles for international expansion, and the journey to a successful IPO with Goldman Sachs. Bernard dives into the challenges of rapid growth, including a painful product rewrite and market cap collapse, before detailing the turnaround that led to a $5bn valuation. Now an investor, he offers valuable advice for budding European entrepreneurs.
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Humble Beginnings In Paris
- Bernard Liautaud and co-founders started Business Objects from a tiny Paris office with one borrowed laptop and no salaries.
- They closed their first sale within two weeks by leveraging Oracle contacts and a risky early customer.
Raise Capital Early
- Raise money before you desperately need it so you can execute your plan without panic.
- Use early customer wins to build credibility and attract investors and partners.
Power Of Transnational Identity
- Building a transnational culture became a competitive advantage when scaling globally.
- Cross‑country swaps helped erase stereotypes and spread best practices across offices.