Rao Mulpuri
| Rao Mulpuri | |
|---|---|
| Born | India |
| 🏳️ Nationality | American |
| 🏫 Education | Boston University (M.S., PhD) |
| 💼 Occupation | Business executive |
| Known for | CEO of View, Inc. |
| Term | 2008–2024 |
| Predecessor | Paul Nguyen |
Rao Mulpuri (born 1969)[1] is an Indian-born American business executive who served as the chief executive officer (CEO) of the American smart glass-manufacturing company View, Inc. from 2008–2024. During his tenure, the company went public via a SPAC and received over $1 billion in funding. He resigned following the company’s bankruptcy in 2024.
Education
Mulpuri was born in India, and after moving to the United States, he received his master's degree in Manufacturing Engineering from Boston University in 1992 and subsequently his PhD in Materials Engineering in 1996.[2]
Career
Prior to joining View, Mulpuri worked for 12 years at Novellus Systems, a semiconductor equipment manufacturer, as the President of Japan and as the Vice President of the Integrated Metals Business.[3]
Mulpuri became CEO of View (then known as Soladigm)[4] in 2008, succeeding founder Paul Nguyen.[5] Mulpuri moved the headquarters to Milpitas, California[6] and started manufacturing production from a facility in Olive Branch, Mississippi.[7] Under his tenure, he secured several funding rounds totaling hundreds of millions of dollars from BlackRock and Khosla Ventures[8], eventually culminating in a $1.1 billion investment from the SoftBank Vision Fund.[9] Mulpuri led the company in going public through merging with a special-purpose acquisition company (SPAC) sponsored by Cantor Fitzgerald in 2021.[10] The company raised $815 million dollars through the CFII SPAC.[11] At its highest valuation, View, Inc. reached a market capitalization of approximately $3.5 billion under Mulpuri's leadership.[12]
Following a United States Securities and Exchange Commission investigation in 2021 due to former CFO Vidul Prakash's misstating figures in company filings,[11] the company struggled with cash and failed in achieving profitability.[13] Within a year, View lost 80% of its estimated value and Mulpuri pushed back against Nasdaq delisting threats.[14] Mulpuri emphasized the company's accounting restatement as the source of poor press and loss of investor confidence, and he sought to raise an additional $150 million in senior convertible notes in 2023 to take the company to profitability.[15]
After consistent financial downturns and significant costs as a consequence of the investigation, the company ultimately filed for Chapter 11 bankruptcy and went private in April 2024,[16] and Mulpuri resigned five months later.[17]
Personal Life
Mulpuri is a member of the Young Presidents' Organization (YPO)[18] and serves on the board of directors of the Silicon Valley Leadership Group[19] and Stanford University's Center for Asian Health Research and Education.[20] He currently resides in California and has one son.[21]
References
- ↑ Noglows, Paul. "How View Is Reinventing Your Windows". Forbes.
- ↑ "A Room with a View: MSE Alum Shakes Up the Common Window | College of Engineering". www.bu.edu.
- ↑ "Dr. Rao Mulpuri".
- ↑ "A Startup Shows off 'Smart Windows' in San Francisco Hotel". Forbes.
- ↑ Dumaine, Brian. "Windows that keep out the sun without blinds". Fortune.
- ↑ Haggin, Patience (11 August 2017). "The Secret to Startup Success? Fudge Your Age". Wall Street Journal.
- ↑ "Soladigm, Milpitas company that makes 'smart windows,' to build new factory". 29 July 2010.
- ↑ Chernova, Yuliya (6 February 2017). "View Raises $100 Million for Smart Windows". Wall Street Journal.
- ↑ https://www.bloomberg.com/news/articles/2018-11-02/saudi-backed-vision-fund-invests-1-1-billion-in-a-maker-of-smart-window-glass?embedded-checkout=true
- ↑ https://www.bizjournals.com/sanjose/news/2021/03/08/view-set-for-market-debut-after-unusual-spac-drop.html
- ↑ 11.0 11.1 Weinman, Hayley Cuccinello, Aaron. "SoftBank-backed glass manufacturer View is at risk of being delisted less than 9 months after raising $815 million in a SPAC deal". Business Insider.
- ↑ "View, Inc. (VIEW) - Market capitalization". companiesmarketcap.com.
- ↑ Weinman, Hayley Cuccinello, Aaron. "SoftBank's View went from investor darling to one of the worst SPAC deals ever. Insiders say the glassmaker has struggled with cash burn for years, while many lived in fear of being fired". Business Insider.
- ↑ https://www.bizjournals.com/sanjose/news/2022/03/08/milpitas-smart-glass-maker-view-gets-time.html
- ↑ Jeans, David. "The Downfall Of A $2 Billion SoftBank-Backed Smart Window Company". Forbes.
- ↑ Vass, Drew (October 15, 2024). "After Announcing Plans for Privatization, View Inc. Lays Off 147 Workers".
- ↑ Editor, Drew Vass, Executive (October 14, 2024). "After Announcing Plans for Privatization, View Lays Off 147 Workers".
- ↑ "DR. RAO MULPURI". WHIT.
- ↑ Wilkinson, Laura (September 30, 2019). "The Leadership Group Announces New Board Members From Technology, Education and Healthcare".
- ↑ "Advisory Board | Center for Asian Health Research and Education (CARE)". asianhealth.stanford.edu.
- ↑ Bessette, Chanelle. "10 Questions: Rao Mulpuri, CEO, View". Fortune.
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