GoTo
| GoTo | |
|---|---|
 | |
| Formerly | LogMeIn, Inc. |
| Type | Private |
| Industry | Software |
| Founded | 2003 in Budapest, Hungary |
| Headquarters | , United States |
| Key people | Mike Kohlsdorf (President and CEO) |
| Products | Cloud-based software |
| Revenue | US$1.26 billion (2019) |
Number of employees | 3,974 (December 31, 2019) |
| Website | www |
GoTo, which used to be called LogMeIn, Inc., is an American company. It makes software that people use over the internet instead of installing it on their own computers. Its products let people work together online, manage computer systems, and talk to customers. The company started in 2003. Its main office is in Boston, Massachusetts.[1]
The best-known thing GoTo's software does is let a person use a computer from far away. This is called remote access. For example, a help desk worker can fix a problem on a customer's computer without being in the same room.
History
[change | change source]The company was first called 3am Labs, Inc.
Its chief executive, Michael Simon, and its chief technology officer, Márton Anka, had worked together before at Uproar, a games website. Uproar was sold to Vivendi Universal during the dot-com bubble.[2] The work Anka did at Uproar helped him build a program called RemotelyAnywhere. That program later grew into LogMeIn.[2]
In 2006, 3am Labs changed its name to LogMeIn, Inc. In 2009, the company sold shares to the public for the first time. Its shares began trading on the NASDAQ on July 1, 2009.
The company bought many other companies over the years:
- 2011 – Pachube, a company that made Internet of things software. It later became a service called Xively.[3]
- 2012 – Bold Software, for $16.5 million.
- 2014 – Meldium, for $15 million. LogMeIn stopped selling it in 2017.
- 2015 – LastPass, a password manager, for $110 million.[4]
- 2017 – Nanorep, a company from Israel that made customer service software using artificial intelligence and chatbots. LogMeIn paid $45 million, and promised $5 million more to keep good workers for two years.[5]
- 2018 – Jive Communications, a phone service company, for $342 million.[6]
In January 2008, a company called Tridia took LogMeIn to court. Tridia said LogMeIn had copied one of its patents.
In July 2016, LogMeIn said it would join with the GoTo family of products made by Citrix Systems. The deal was finished in February 2017.[7]
In February 2018, LogMeIn sold Xively to Google for $50 million.[8]
On December 17, 2019, LogMeIn said it had agreed to be bought for $4.3 billion by Francisco Partners and Evergreen Coast Capital. Evergreen is part of Elliott Management Corporation.[9] After this, the company was no longer owned by the public. Later it took the name GoTo.
References
[change | change source]- ↑ "Business Summary". Yahoo Finance.
- 1 2 Soule, Alexander (September 20, 2004). "Budapest startup, 90 jobs coming to Woburn".
- ↑ Mike Butcher (July 20, 2011). "LogMeIn acquires 'Internet of Things' startup Pachube for $15m in cash". TechCrunch.
- ↑ Brodkin, Jon (October 9, 2015). "LogMeIn buys LastPass password manager for $110 million". Ars Technica.
- ↑ Lunden, Ingrid. "LogMeIn acquires chatbot and AI startup Nanorep for up to $50M". TechCrunch.
- ↑ Gagliordi, Natalie (February 8, 2018). "LogMeIn buys Jive Communications for $342 million". ZDNet.
- ↑ "Citrix completes spin-off and merger of GoTo family of service offerings with LogMeIn". Reuters. February 1, 2017.
- ↑ Ron Miller (February 15, 2018). "Google to acquire Xively IoT platform from LogMeIn for $50M". TechCrunch.
- ↑ Miller, Ron (December 17, 2019). "LogMeIn agrees to be acquired by Francisco Partners and Evergreen for $4.3B". TechCrunch.