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Datto CEO Tim Weller On IPO: ‘MSPs Are What Got Us Here’

‘We’re also undergoing our own digital transformation and constantly trying to improve how we do things for partners and make their life easier,” Datto CEO Tim Weller told CRN after the company went public.

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Powering To The MSP Future: Datto

Datto held its successful IPO last week, entering the New York Stock Exchange at $27 a share, the high end of its expected range. The Norwalk, Conn.-based company chose “MSP” for its ticker symbol, a nod to the company’s customers: managed service providers.

Datto CEO Tim Weller, in an interview with CRN on the day of the IPO, said its stock market debut gives Datto new resources to help it continue to build the products and services that MSPs need to help customers with their digital transformation across storage, networking, security and other key areas of their business.
The use of “MSP” as its ticker symbol was meant to be a recognition that MSPs are what made Datto successful, Weller said.

“We are creators of technology, but we‘ve never had any intention or any practices selling that directly to small and medium businesses,” he said. “We focus on the technology, and we focus on helping partners grow and helping partners sell our technology. But really, we’re investing in their business.

The IPO comes 13 years after the company was founded by Austin McChord in his parents’ basement. McChord, who previously served as Datto’s CEO, is still on the company’s board.

The IPO, however, was not without a hiccup. A multiyear tax fraud investigation that involved Robert Smith, the founder and CEO of Vista Equity Partners, which owns 72 percent of Datto following the public offering, came to light the week prior. The investigation led to Smith admitting to “serious crimes” in exchange for avoiding prosecution.

Here’s how Weller plans to quickly move past any questions about control of the company’s future and what he said that future will bring to its MSP partners.

 
 
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