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Technology Stocks : Ascend Communications (ASND)
ASND 205.50-1.5%Dec 5 9:30 AM EST
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To: Douglas V. Fant who wrote (32579)1/30/1998 12:55:00 AM
From: Gary Korn  Read Replies (3) of 61433
 
I received the following story about how ASND started and grew and I thought some might find it of interest. Thank you, very much, to the contributor:

When Ejabat won the Stanford Business School alumni association entrpreneurial company of the year award, he spoke of ASND's three lives.

In its first life it developed and sold ISDN boxes--it reached $1 MM in sales and discovered that it had achieved 100% market saturation.

At that time, ASND reconfigured and added to this technology, which resulted in its second life--inverse multiplexers, which enabled customers to install video conferencing equipment using dial-up lines, avoiding the need to install expensive, separate dedicated lines. This is the company we took public at Morgan Stanley in 1994 at a market cap of about $200 MM. There was no mention of the word "internet" in our prospectus.

As the internet ramped up, we thought that if we "added a modem bank here and a terminal server there", the result would be a product that all the ISPs would need to build out their service networks. By mid-1996, 2 years after the IPO, Ascend had become the fastest company in history to go from IPO to $10 billion in value.

Gary Korn

P.S. I think that ASND's 4th life was started with the acquisition of CSCC. Mory doubtless would add it at his next award ceremony.
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