To help reset the context, in 2004 Lance Armstrong won his 6th Tour de France and the Boston Red Sox won the World Series for the first time since 1918.
The venture / startup community was reeling from the burst of the dot com bubble.
Palo Alto Networks rose to prominence (IPO in July 2012) as enterprises replaced legacy firewalls with next generation firewalls that could secure application traffic.
Fire Eye Networks (IPO in September 2013) and a key acquisition Mandiant (Dec 2013), helped enterprises recognize and block advanced persistent threats and the role of state actors.
All of these new security categories took the lion’s share of the security budgets and thus overshadowed identity and access management.
Consequently, the company experienced intermediate revenue plateaus (it happens more often than people admit).
Rarely do founding teams stick together and fight though more than a decade of ups and downs.
What's the difference between chasing women and persisting with them, anyway? Actually, the two are VERY different - and women are right for desiring persistent men to a point...
By leveraging offshore development (thanks to co-founder Adam Au), the company delivered dozens of integrations that enabled enterprise customers to extend AD into non-Windows environments.
But while Identity and Access Management (IAM) has been always been a key component of enterprise security, there were macro issues (financial/credit crisis 2007-2009) as well as other security priorities.
But everything started to change in June 2013 when Edward Snowden released a massive trove of classified documents.
He almost single-handedly reawakened the market for IAM security technology.