According a report on Tanium by Bloomberg’s Sarah McBride and Lizette Chapman, employees at the Silicon Valley-based startup company are saying that the company has a brutish Chief Executive Officer who offended them and allegedly fired people just before their stock options vested.
Tanium’s family empire is facing a crisis: Report
The CEO and co-founder of Tanium is Orion Hindawi and he co-founded this company with his father a decade ago. Currently, Tanium is one of the most highly valued security startup in the technology industry and it raised over $287 million of venture investment at a valuation of $3.7 billion. Most of that investment came from VC powerhouse Andreessen Horowitz.
On the urging of Ex- Microsoft executive Steven Sinofsky, Andreessen Horowitz invested around $90 million in 2014 into the company and then put another $52 million in 2015. Sinofsky works as an advisor for Andreessen Horowitz and he once called the technology of Tanium “magic.”
According to PitchBook, the other investors of the U.S.-based tech company include T. Rowe Price, TPG Capital, Institutional Venture Partners and Geodesic Capital, which together invested over $130 million in the tech company. One of the most interesting claims in the report of tech news site “Bloomberg” is an allegation that Hindawi used to keep tabs on the employees who had many stock options. Also, according to the same report, the CEO of the tech company used to fire some of those employees right before their stock vested. Some employees called this process “Orion’s List.”
88% employees approve of CEO Hindawi: Glassdoor
The story made an allegation that the CEO and co-founder of the tech company did not want his majority stake in the tech company to become diminished and hence, reduced the voting control that he and his father had over the board and the company. A spokesman told news site Bloomberg that the employees who were fired from their jobs were done so for inappropriate conduct.
The CEO allegedly publicly insulted the intelligence of people as well. According to the Bloomberg report, he mocked a senior executive for being overweight and spread rumors about things such as drug abuse and sexual promiscuity among certain former and current staffers. However, the stories that the unidentified sources told Bloomberg do not appear on the job hunting site Glassdoor, where employees have submitted positive reviews for the company and its CEO. The employees have rated the company a 4.6 out of 5 stars and 88% of the employees approve of the CEO.
A Tanium spokesman told the news site Business Insider, “This is not a company in crisis. We’re proud of what we’ve built and our successes so far. It’s no small thing that Tanium is trusted to protect and maintain the critical data and assets of a significant number of the Fortune 100 and many agencies of the US federal government. Our nearly 100% customer renewal rate and strong revenue growth wouldn’t be possible without the work of exceptional people who believe in our mission and love working here. The real story of Tanium is that we work incredibly hard and hold ourselves to high ethical and performance standards. That’s the kind of company we’re building, and we understand that doesn’t work for everyone.” Andreessen Horowitz that holds two board seats in the tech company refused to comment on the matter.