Siebel wanted to create a tool that allowed companies to manage relationships with their customers. Siebel would be the pioneer of the CRM sector. Siebel started the company with his own money and angel investment. In , Siebel Systems entered the stock market as a public company. In , Siebel founded C3 Energy, a software startup to manage public service data. The economic crisis did not help the company take off, as energy companies were not interested in investing in software.
Siebel did not have a good time either. An elephant rammed the tycoon, who had to wait two years to recover fully. In Thomas Siebel decided to restructure the company.
In the process, he had to lay off more than employees. They have very high value. What Palantir does as a company is a feature for us. What Alteryx does is a feature within our product; we call it Ex Machina.
If they want to use Databricks, they do—and by the way, they do use Databricks, instead of our data virtualization technology. There was a time period, in and , when the internet of Things was all the rage, and all anyone wanted to talk about was connecting devices. And we do that. So that was probably a mistake to name the company that. Now, for instance we read data from 57 million sensors and 42 million smart meters. So the first 20 minutes of every presentation was explaining that we were not really an IoT company.
It was a mistake. AI happens to be what we really do. It was not a business cycle issue. This [the pandemic] was an act of God.
It was apocalyptic. Business came to a screeching halt. Beginning as a presales representative in Oracle's Chicago office, Siebel was responsible for setting up database demonstrations for Oracle sales representatives and their prospective clients.
However, he was quickly recognized as a superior salesman in his own right. Within a year Siebel earned distinction as Oracle's top salesman, outperforming his coworkers largely on the strength of his technical knowledge and ability to translate complex computer jargon for nonspecialist clients.
Siebel's success attracted the attention of the Oracle cofounder and CEO Lawrence Ellison, who moved the rising star into the company's upper ranks. During the next several years Siebel held various marketing positions and contributed toward Oracle's growth as a leading provider of management software.
In , while heading Oracle's direct-marketing division, Siebel noticed that his sales reps were wasting time and effort as a result of poorly coordinated customer information. Seeking to eliminate the inefficiencies, Siebel developed a program that streamlined communication within Oracle's sales.
The results were impressive. In Siebel suggested to Ellison that the program, called Oasis Oracle automated sales information system , could be marketed externally. Ellison, failing to see the program's commercial potential, was not interested. Siebel took a leave of absence from Oracle in and never returned. He cashed in his company shares soon thereafter, a fortunate move that netted him millions just ahead of a major accounting scandal that caused Oracle's market value to plummet.
Siebel personally provided the lion's share of the company's seed money, but he accepted start-up investments from a few close associates, including the brokerage mogul Charles Schwab, who received a seat on the Siebel Systems board of directors in return. From the beginning, Seibel demonstrated a personal commitment to customer satisfaction that would define his company and become a hallmark of CRM.
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