New Relic

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New Relic, Inc.
TypePublic company
NYSE: NEWR
Russell 1000 Index component
IndustryApplication performance management
Founded2008; 14 years ago (2008)
Headquarters
San Francisco, CA
,
United States
Key people
Lew Cirne
ProductsNew Relic APM, New Relic Mobile, New Relic Browser, New Relic Synthetics, New Relic Servers, New Relic Insights
Revenue$667.7 million (March 2021)[1]
Number of employees
1,934[2]
Websitenewrelic.com
New Relic at AWS Summit

New Relic is a San Francisco, California-based technology company which develops cloud-based software to help website and application owners track the performances of their services.

History[]

Lew Cirne founded New Relic in 2008 and was the company's CEO until July 1, 2021.[3] The name "New Relic" is an anagram of founder Lew Cirne's name.[4]

In February 2013, New Relic (NR) raised $80 million from investors including Insight Venture Partners, T. Rowe Price, Benchmark Capital, Allen & Company, Trinity Ventures, Passport Capital, Dragoneer, and Tenaya Capital at a valuation of $750 million.[5][6] The funding round helped New Relic extend its software analytics platform to include Android and iOS native mobile apps.[7][5] In April 2014, New Relic raised another $100 million in funding led by BlackRock, Inc., and Passport Capital, with participation from T. Rowe Price Associates, Inc. and Wellington Management.[8] Board members are Peter Fenton of Benchmark, Dan Scholnick of Trinity Ventures, Peter Currie of Currie Capital, Adam Messinger of Twitter,[9] Sarah Friar of Square,[10] and Lew Cirne.[11] New Relic went public on December 12, 2014.[12]

In January 2020, the company announced that Bill Staples will join as Chief Product Officer on February 14, 2020. He will lead the product management, engineering and design functions, as well as drive the company's platform strategy.[13]

In March 2020, New Relic inked a 10-year deal to move its Atlanta team out of co-working space into the 20th floor of a 28-story office tower off 12th Street in Midtown.[14]

In June 2020, New Relic laid off "less than 20" employees at its Portland engineering office.[15]

In July 2020, New Relic announced a change to its pricing model that would result in a per-user system with a goal of lowering the barrier to collecting data and providing full stack observability licensed per user. When asked about the decision to abandon its APM product after 12 years, Chief Product Officer Bill Staples explained that New Relic was looking to ameliorate the "explosion of complexity" for businesses using their products.[16]

In April 2021, New Relic laid off "nearly 160 employees"[17] as part of "a restructuring plan to realign its cost structure to better reflect significant product and business model innovation over the past 12 months".[18]

In May 2021, Bill Staples was promoted to CEO, and Cirne remained Executive Chairman, inventor, technologist and strategist.[19]

Products[]

New Relic's technology, delivered in a software as a service (SaaS) model, was announced in 2013.[20] It monitors Web and mobile applications in real-time[21][22][7][23] with support for custom-built plugins to collect arbitrary data.[24]

Marketing[]

Partnerships include IBM Bluemix, Amazon Web Services, CloudBees, Engine Yard, Heroku, Joyent, Rackspace Hosting, and Microsoft Azure as well as mobile application backend service providers Appcelerator, Parse, and StackMob.[23][25][26][27]

Other marketing mentions:

  • San Francisco Business Times in 2012 and 2013.[28][29]
  • One of 2013 OnDemand 100 Top Private Companies[30]
  • 2010 THINKstrategies’ Best of SaaS Showplace[31]
  • Top 20 Coolest Cloud Infrastructure Vendors (2010, CRN)[32]
  • 10 IT Management Start-Ups to Watch (2008, NetworkWorld)[33]

Litigation[]

On November 5, 2012, CA Technologies (formerly Computer Associates) filed a lawsuit in the US District Court for the Eastern District in New York. The lawsuit claims that New Relic violated three patents that came into CA Technologies' possession through acquisitions. The three patents in question are numbers U.S. Patent 7,225,361 B2; U.S. Patent 7,512,935 B1; and U.S. Patent 7,797,580 B2.[34] This is the first of two actions CA Technologies has filed in connection with alleged infringement of patents obtained in the acquisition of Wily Technology (the company that was also founded by Lew Cirne). In April 2013, CA Technologies filed a lawsuit asserting patent infringement of the same three APM patents against software developer AppDynamics. However, on April 20, 2015, AppDynamics and CA settled the two-year-old patent dispute. AppDynamics said that it paid a "modest fixed payment."[35]

Controversy[]

Racial justice[]

After internal disagreements about how to handle systemic racism, former CEO Lew Cirne sent a memo on 19 June 2020 stating that Black Lives Matter discussions were "off-the-table".[36]

Donations[]

In 2020, the then CEO and his wife made donations that New Relic employees complain are against the company's inclusive diversity messaging.[37] Specific donations included:

  • $250,000 to Faith Academy of Marble Falls, a private Christian school near Austin, Texas which excludes gay students and opposes gay rights.[38]
  • $50,000 to organizations run by an evangelist named Sid Roth, which have been denounced by the Anti-Defamation League.[39]

References[]

  1. ^ "New Relic Announces Fourth Quarter and Full Fiscal Year 2021 Results". New Relic Investor Relations. Retrieved 4 September 2021.
  2. ^ "FORM 10-Q" (PDF). 30 June 2021. p. 23. Retrieved 4 September 2021.
  3. ^ "New Relic to Promote Cloud Industry Veteran Bill Staples to CEO". 13 May 2021. Retrieved 4 September 2021.
  4. ^ Balise, Julie (26 August 2015). "Stories behind Bay Area tech company names". SFGate. Retrieved 26 August 2015.
  5. ^ a b Levy, Ari (5 February 2013). "New Relic Reels in $80 Million to Expand Into Mobile". Bloomberg. Retrieved 9 August 2013.
  6. ^ Taulli, Tom (5 February 2013). "New Relic Nabs $80M To Upend the Software Biz". Forbes. Retrieved 9 August 2013.
  7. ^ a b Kattau, Suzanne (14 March 2013). "New Relic extends app-performance software to mobile". SD Times. SD Times. Retrieved 9 August 2013.
  8. ^ Rao, Leena (28 April 2014). "Cloud App Monitoring Company New Relic Raises $100M". TechCrunch. TechCrunch. Retrieved 13 June 2014.
  9. ^ Gage, Deborah (29 May 2014). "New Relic Names Twitter CTO Adam Messinger To Board". WSJ.D. Wall Street Journal. Retrieved 13 June 2014.
  10. ^ Novet, Jordan (8 January 2014). "New Relic board makes room for Square executive Sarah Friar". VentureBeat. VentureBeat. Retrieved 13 June 2014.
  11. ^ "Management Team". New Relic Web site. New Relic. Retrieved 9 August 2013.
  12. ^ "New Relic IPO raises $115M, stock jumps 48% in debut". www.bizjournals.com.
  13. ^ "Bill Staples to Join New Relic as Chief Product Officer". Bloomberg.com. 2020-01-16. Retrieved 2020-02-28.{{cite web}}: CS1 maint: url-status (link)
  14. ^ "Cloud Software Company Sets Up East Coast Shop At 1100 Peachtree". Bisnow. Retrieved 2020-03-11.
  15. ^ "New Relic lays off staff as it combines engineering teams". www.bizjournals.com. Retrieved 2020-07-01.{{cite web}}: CS1 maint: url-status (link)
  16. ^ "New Relic reinvents its products to bring observability to the mainstream". diginomica. 2020-07-30. Retrieved 2020-08-03.
  17. ^ Mike Rogoway (6 April 2021). "New Relic will lay off up to 160 in restructuring". The Oregonian. Retrieved 4 September 2021.
  18. ^ "FORM 10-Q" (PDF). 30 June 2021. p. 22. Retrieved 4 September 2021.
  19. ^ "New Relic to Promote Cloud Industry Veteran Bill Staples to CEO". www.businesswire.com. Business Wire. 13 May 2021. Retrieved 7 September 2021.
  20. ^ [dead link] "SAS APM Review". Archived from the original on 2012-07-14.
  21. ^ Shinal, John (3 June 2013). "New Relic headed for an IPO". MarketWatch. Retrieved 9 August 2013.
  22. ^ Babcock, Charles (5 February 2013). "New Relic Garners $80 Million To Expand APM". InformationWeek. Retrieved 9 August 2013.
  23. ^ a b Clarke, Gavin (23 February 2011). "New Relic climbs Amazon's Elastic Beanstalk". The Register. Retrieved 9 August 2013.
  24. ^ O'Dell, Jolie (19 June 2013). "New Relic now lets you make plug-ins for any kind of data you've got". VentureBeat. Retrieved 9 August 2013.
  25. ^ Deutscher, Maria (19 July 2013). "New Relic Supports OpenStack via Rackspace Partnership". SiliconANGLE. Retrieved 9 August 2013.
  26. ^ "Pivotal Contributes Open Source Plugins for New Relic's Pluggable Monitoring and Management Platform: RabbitMQ and Web Server". McCloud. 19 June 2013. Archived from the original on 29 October 2013. Retrieved 9 August 2013.
  27. ^ Humble, Charles (13 September 2011). "New Relic Offers Real-time Performance Monitoring for Heroku Java users". InfoQ. Retrieved 9 August 2013.
  28. ^ Hughes, Jeff (20 April 2012). "Enjoying work is focus, not gimmicks or fancy perks". San Francisco Business Times. Retrieved 10 August 2013.
  29. ^ "Best Places to Work Rankings 2013 — Intuit, Workday, XL Construction". San Francisco Business Times. 5 June 2013. Retrieved 10 August 2013.
  30. ^ "Announcing the 2013 OnDemand 100 Top Private Companies". AlwaysOn. 18 May 2013. Archived from the original on 18 May 2013. Retrieved 10 August 2013.
  31. ^ "New Relic Wins Best of SaaS Showplace Award". THINKstrategies. 3 May 2013. Retrieved 10 August 2013.
  32. ^ Hickey, Andrew. "20 Coolest Cloud Infrastructure Vendors". CRN. CRN. Retrieved 10 August 2013.
  33. ^ Dubie, Denise. "10 IT management start-ups to watch". Network World. Network World. Archived from the original on 29 October 2013. Retrieved 10 August 2013.
  34. ^ Morgan, Timothy. "CA Technologies sues New Relic over APM patents". The Register. Retrieved 13 November 2012.
  35. ^ "AppDynamics, CA Inc. Settle Two-Year-Old Patent Dispute". WSJ. 2015-04-20. Retrieved 2017-02-18.
  36. ^ Rogoway, Mike (3 Jul 2020). "New Relic CEO scolds employees in internal memo: 'We are a company with an urgent need to get back on track'". The Oregonian. Retrieved 11 Oct 2020.
  37. ^ Rogoway, Mike (11 October 2020). "New Relic employees report unrest over work culture, CEO's donations". oregonlive.com. The Oregonian.
  38. ^ "Foundational Statements". Faith Academy Marble Falls. 31 October 2018. Retrieved 28 July 2021.
  39. ^ Goldrich, Lois. "ADL blasts 'religious fraud'". Jewish Standard. Times of Israel. Retrieved 28 July 2021.

External links[]

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