The tech company “Dyn” was just purchased by Oracle for a little over $600 million. Oracle did not mention the exact price but it was in this price range. There have certainly been other big tech companies in the past which have paid hundreds of millions of dollars for smaller tech companies, but Oracle isn’t known for being one of these companies. However, Dyn has brought in more than $100 million over their last 12-month billing period. Investors have estimated the value of Dyn to be around $356 million.
Jeremy Hitchcock was just a college student in his dorm room when he started Dyn. The company basically consisted of domain name servers where people could host their domain names at over the internet. These servers are what turns regular domain names into numerical IP addresses, which is what computers use to know what website to send someone to after they type in a domain name. Dyn also offers other DNS services as well.
Hitchcock was only in his early 20s when he started this company along with Tom Daly. They were both attending Worcester Polytechnic Institute and created Dyn as an open source project from their dorm room. All they had was one server in their dorm room to run the business from and they almost ran out of money doing it. The only way they were able to keep it going was to put up a donation button on their website with the hopes that users would donate money to them to keep the server going.
Fortunately, they received $40,000 in donations which was more than enough to keep the business afloat. This is when they knew the business was going somewhere, and continued to focus on the marketing of the business. Now eleven years later, the business is worth millions and Hitchcock is only 35-years-old.