Jack McDonald
| Jack McDonald | |
|---|---|
| Born | July 14, 1963 Levittown, New York, US |
| 🏳️ Nationality | American |
| 🎓 Alma mater | Fordham College Fordham Law School |
| 💼 Occupation | Businessman and Entrepreneur |
| Known for | CEO and Chairman of Perficient (Nasdaq: PRFT) and Founder, CEO and Chairman of Upland Software (Nasdaq: UPLD) |
| 👩 Spouse(s) | Carla (Stanmyre) McDonald[1] |
| 👶 Children | 2 |
| Twitter= | |
Jack McDonald (born July 14, 1963) is an American businessman, company consolidator, serial entrepreneur, and the Founder, Chairman, and CEO of Upland Software of Austin, Texas.[2]
Upland Software[edit]
McDonald teamed with Austin Ventures in 2010 to form Silverback Acquisitions, which created Upland Software by combining cloud-based software companies in the project portfolio, work management[3], and digital engagement markets[4]. McDonald began the Upland enterprise cloud software consolidation effort using the $50 million from Austin Ventures to acquire software companies that had products and corporate customers but were below the $15-20 million revenue mark.[5] As of May 2019, McDonald had acquired and integrated into Upland 20 companies.[6]
Under McDonald’s leadership, as Built in Austin noted in 2014, Upland Software pursued a strategy of acquisition-based growth and its revenues between 2012 and 2013 went from $22.8 million to $41.2 million.[7]
McDonald took Upland public (Nasdaq: UPLD) in a 2014 IPO that raised $46 million[8]; as 451 Research noted in a 2017 report, shares of Upland increased by 150% as of September of 2017.[4] In May of 2019, McDonald orchestrated a follow-on public offering worth $159 million led by Credit Suisse and Jefferies.[9] In August of 2019, McDonald negotiated a new $410 million credit agreement to further its M&A plans.[10]
Yahoo! Finance reported that Upland Software, Inc. had grown earnings per share by 11% each year and increased revenue by 53% in the last year – and that under McDonald's leadership Upland achieved a market cap of $1.2 billion as of July 2019.[11]
Perficient[edit]
From 1999-2009, McDonald used a similar acquisition model when he was CEO at software services company Perficient. He also served as Chairman from 2001 to 2009.[5] During that time, McDonald acquired 17 companies and took the firm public.[5] As one media outlet noted, McDonald transformed Perficient from a startup to a company with $230 million in 2008 revenues and about 1,300 business and technology professionals in 19 major North American markets and in Eastern Europe, India, and China.[12]
In 2005, McDonald was recognized with an Ernst & Young Entrepreneur of the Year Award.[13]
Politics[edit]
The Democratic Congressional Campaign Committee recruited McDonald to run in the Republican-leaning congressional district outside of Austin.[14] And in 2009, McDonald formed an exploratory committee to evaluate a potential run for Congress in the 10th congressional district of Texas.[15]
The Hill referred to McDonald as a conservative Democrat and mentioned his platform emphasizing fiscal responsibility and job creation.[16] A later piece in The Hill described McDonald as a strong challenger.[17] And Politico noted that McDonald raised more than $930,000 since entering the race.[18]
As Roll Call reported, the 10th district represents a swath of Texas that includes the liberal suburbs of Austin and a string of conservative rural countries in between and noted that McDonald was working to build a coalition that included not only Democrats, but also Independents and Republicans. The media outlet added that McDonald faced “an uphill climb in a state that has not been kind to Democrats in recent years.”[19]
McDonald decided not to pursue the race and disbanded his exploratory committee.[20]
McDonald then promised to give money back to his campaign donors and instructed them on how and when to submit refund requests.[21]
Early Career & Education[edit]
Before joining Perficient as CEO in April of 1999, McDonald was the CEO of Videosite, a company he sold to Gtech Corp. in 1997. McDonald also has served as a director of corporate development for Blockbuster Entertainment.[22]
McDonald spent the first seven years of his career as a mergers and acquisitions lawyer at Skadden Arps in New York. He holds BA and law degrees from Fordham University.[22]
In 2002, McDonald served as Advisory Board chairman of American YouthWorks, a nonprofit. During his five-year tenure, McDonald helped the organization raise $2.5 million.[23]
In addition to American YouthWorks, McDonald has served as vice chairman and chairman of the Greater Austin Chamber of Commerce, chairman of the State of Texas’ Emerging Technology Fund, and chairman of PeopleFund. He has also held board positions with People’s Community Clinic, KIPP Austin, and the Hill Country Conservancy.[24][23]
References[edit]
- ↑ Buchholz, Jan. "Austin Power Couples: Jack and Carla McDonald". www.bizjournals.com. Retrieved 7 August 2019.
- ↑ Brooks, Steve (10 April 2019). "Business Leader Interview with Jack McDonald, Upland -". Enterprise Times. Retrieved 7 August 2019.
- ↑ Hawkins, Lori. "Austin-based Silverback acquires another company, which becomes part of Upland Software". Austin American-Statesman. Retrieved 7 August 2019.
- ↑ 4.0 4.1 Daly, Brenon (Sept. 13, 2017). “A Private Equity Play in the Public Market”. 451 Research.
- ↑ 5.0 5.1 5.2 Hawkins, Lori. "Former Perficient CEO Jack McDonald to launch new software venture". Austin American-Statesman. Retrieved 7 August 2019.
- ↑ "Xconomy: Upland Software Acquires Marketing Software Business Kapost for $45M". Xconomy. 28 May 2019. Retrieved 7 August 2019.
- ↑ "$46M IPO for Austin's fast-growing Upland Software". Built In Austin. Retrieved 7 August 2019.
- ↑ Theis, Michael. "Upland Software prices $46 million IPO". www.bizjournals.com. Retrieved 7 August 2019.
- ↑ Schultz, Ray. "Upland Software Acquires Kapost For $50 Million". www.mediapost.com. Retrieved 7 August 2019.
- ↑ Anderson, Will (2019-08-08). "Upland keeps M&A iron hot with $410M credit deal". www.bizjournals.com. Austin Business Journal. Retrieved 13 August 2019.
- ↑ "Is Upland Software, Inc.'s (NASDAQ:UPLD) CEO Paid Enough Relative To Peers?". finance.yahoo.com. Retrieved 7 August 2019.
- ↑ "Perficient Inc.: Jack McDonald steps down, Jeffrey Davis new CEO | Careers | POST Online Media". www.poandpo.com. Retrieved 7 August 2019.
- ↑ "Ernst & Young database of winners". eoyhof.ey.com. Retrieved 7 August 2019.
- ↑ Martin, Gary (18 December 2009). "Congressional races heating up at year's end". San Antonio Express-News. Retrieved 7 August 2019.
- ↑ "TX-10: Jack McDonald Raises $634,000 in First Four Months". Burnt Orange Report. 7 July 2009. Retrieved 7 August 2019.
- ↑ Johnson, Bridget (6 April 2009). "Dems gun for blue gains in red state". TheHill. Retrieved 7 August 2019.
- ↑ Romm, Tony (22 December 2009). "Strong McCaul challenger drops before filing deadline". TheHill. Retrieved 7 August 2019.
- ↑ Kraushaar, Josh. "House Dems lose top recruit in Texas - - POLITICO.com". www.politico.com. Retrieved 7 August 2019.
- ↑ Miller, Tricia (13 July 2009). "Democrats Hope to Make 2010 McCaul's Last Call". Retrieved 7 August 2019.
- ↑ Moser, Bob (23 December 2009). "Buzz Kill: Jack McDonald Pulls Out of Congressional Race". The Texas Observer. Retrieved 7 August 2019.
- ↑ Tribune, The Texas; Ramsey, Ross (20 January 2010). "2010: McDonald's Rewind". The Texas Tribune.
- ↑ 22.0 22.1 "John Mcdonald - Perficient Inc (prft)". The Wall Street Transcript. 13 November 2000. Retrieved 7 August 2019.
- ↑ 23.0 23.1 Dewey, Dale N (December 2009). “Jack McDonald Entrepreneur and Community Leader”. Tribeza.
- ↑ Uhler, Steve (November 2014). “Jack to the Future: Austin Chamber Chair Jack McDonald Envisions Austin’s Next Boom”. Austin Man Magazine.
This article "Jack McDonald (businessman)" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Jack McDonald (businessman). Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
