In the wake of the Google IPO in August, we talked with Chief Executive Peng Ong, the founder of Interwoven Inc. and co-founder of Match.com, and wrote about how companies like Ong’s had been influenced Google’s phenomenal IPO:
At Foster City start-up Encentuate, CEO Peng Ong says he’s learning from Google, even after launching two other companies, Interwoven and Match.com.
His company sells software to help companies integrate their computer systems, and Ong says he focuses on making money the traditional way — off every piece of software he makes. But Google has taught him the value of developing useful products for customers, even if there’s no immediate way to make money from it.
His executive team is brainstorming how to implement the policy: “Google realized they had this great technology, but how to make money from it wasn’t clear to them . . . They figured it out later,” he said.
Ong is even contemplating giving some of his engineers a full day a week to innovate on their own — just like Google. Within bounds. “Not across the board,” he says.
We want to catch up with him soon to see how much of this Google-mania has actually stuck, both in terms of application to management policies internally, but also what the IPO market is like now that the froth around Google has dissipated (we’re not suggesting, though, that Ong is contemplating going public).