In 1995 I co-founded a company called Ambient. The original idea was to commercialize technology being developed by a group of Israeli-Russian scientists who had immigrated to Israel in the early 90s.
We raised some start-up capital, and then had an opportunity to do a very early stage IPO, what some term public venture capital. We raised a few million dollars, and poof we were a public company (still trading today, ABTG.OB). Soon after the IPO I realized I did not want to continue to manage the company (I was the CEO), and turned over the reigns to my then CTO Dr. Yehuda Cern. Yehuda, together with some of the original investors in the company, continued to push it forward. My last major contribution to the company, just before I resigned, was to help Yehuda pivot the technology from it's first purpose, contactless smart cards, to very different market, which is the data over power line industry, otherwise known as Smart Grid.
Flash foward 16 years--the company is not only still around but is thriving. In 2010 Ambient corporation generated over $20 million in revenue and a gross profit of $8 million. Still losing money, due to continued investment in R&D. But not bad...
Ambient proves the adage Never Say Never. Had I been pressed to predict in 1995 whether Ambient would survive the first tech bubble bursting, financial meltdown, and more, I probably would have said no way. But thanks to perseverance of Dr. Cern and others on the team -- Ambient is a thriving company today. I have been diluted down to nothing, so my stake is completely sentimental, and I doubt if beyond a footnote in some annual report anyone at Ambient knows of my historical connection. Still feels good to see something that you willed into existence still moving forward.
May we all be privelaged to see the fruits of our labor flourish in our times. And if Ambient would like to invite it's founder and first CEO out to dinner (or more), happy to accept...
