Keith J. Krach

Keith J. Krach
Born (1957-04-01) April 1, 1957
Lakewood, Ohio
Residence San Francisco, California
Nationality United States
Alma mater Purdue University(BS)
Harvard University(MBA)
Occupation Businessman
Known for Co-founder of Ariba
Chairman of DocuSign
Spouse(s) Metta Krach
Children 5
Parent(s) John Krach
Elda Krach
Website www.keithkrach.com

Keith J. Krach (born April 1, 1957) is an American businessman, entrepreneur, and philanthropist. He is currently the chairman of DocuSign and served as CEO for 6 years.[1] Krach co-founded Ariba, serving as chairman and CEO,[2] and is recognized for his work in B2B Commerce.[3] Krach also served as chairman of the board of Angie’s List.[4]

Early life and education

Krach was born in Lakewood, Ohio, to Elda and John Krach.[5] As a child, Krach worked in his father’s machine shop,[6] which inspired him to pursue a B.S. in industrial engineering from Purdue University[7] in 1979, on a General Motors scholarship. While there, he became a member of the Sigma Chi Fraternity. He subsequently received an M.B.A. from Harvard University Business School, in 1981, on a General Motors fellowship.[7]

Career

Krach began his career at General Motors where he worked at GM's Cadillac Division, New York Treasury office, and technical center, before being named GM's youngest-ever vice president, at 26, in 1984.[8] During his time at GM, he was one of the founders of GMF Robotics, a joint venture between GM and Fanuc Robotics.[2]

After GM, he became a member of the founding team of Rasna Corporation, which ranked #3 on the 1994 Inc. 5000 list of fastest-growing companies in America.[9] In 1995, Rasna Corporation was sold to Parametric Technologies for $500 million.[10]

In 1996, Krach was the first entrepreneur in residence at Benchmark Capital, and in 2008, he became Benchmark's CEO in residence.[11]

From 1996 to 2003, Krach served as co-founder, chairman, and CEO of Ariba, which was acquired by SAP in 2012 for $4.3 billion.[12] He took the company public in 1999, and its stock more than tripled from the offering price on opening day, making the three-year-old company worth $6 billion.[13] Under Krach’s leadership, Ariba acquired TradeX for $1.9 billion in its first year as a publicly traded company.[14] In 2000, the stock value continued to climb, and Ariba's market capitalization was as high as $40 billion. Today, nearly $1 trillion of commerce goes through the Ariba network annually.[15]

From 2005 to 2011, Krach served as CEO of 3Points, an investment holding company based in Los Gatos, California.[4]

In 2009, Krach became the chairman of DocuSign, a technology company based in San Francisco and Seattle which has received strategic investments and support from companies such as Microsoft, Google, SAP, Salesforce, Visa, and FedEx.[16] In 2011, Krach became the CEO of DocuSign.[17]

In January 2017, Krach named his successor as CEO of DocuSign, and still remains the chairman of the company.[18] Throughout his time as CEO, Krach led the company to be recognized as a CNBC Disruptor 50 in 2014 and 2015,[19] in addition to #3 on Forbes' 2016 list of the World's Best 100 Cloud Companies,[20] a recognition given due to the company’s 90% positive outlook rating and 97% CEO rating on Glassdoor.[21][22] DocuSign was also selected for Glassdoor's Best Places to Work Award in 2016.[23] Krach was the largest individual shareholder unaffiliated with a venture investment firm when DocuSign filed for an initial public offering in April 2018.[24]

Board memberships

From 2006 to 2009, Krach served on the board of directors of XOJet,[25] and from 2007 to 2011, on the board of Ooma.[26]

Krach was appointed to the Purdue board of trustees in 2007 and served as board chairman from 2009 to 2013.[27] In 2012, he selected Mitch Daniels, the sitting governor of Indiana, to be the 12th president of the university.[28]

Additionally, Krach served as board chairman of Angie’s List from 2011 to 2014. Under his leadership, the company went public on the Nasdaq.[29]

Krach has taken on recent initiatives to accelerate “digital transformations” on a national and global front.[6] In 2017, he was named to the NYCx Technology Leadership Advisory Council, a diverse group of technology and community leaders selected by New York City’s Mayor, Bill de Blasio.[30][31]

Awards and recognition

In 1998, Krach was named a top 10 entrepreneur of the year by Red Herring Magazine.[7] In 2000, he received the Technology Pioneer award at the World Economic Forum, in Davos, Switzerland.[32] That same year, he was recognized as one of the top 10 tech execs by Forbes.[3] In 2000 and again in 2015, Krach was named National Entrepreneur of the Year by Ernst & Young.[33] Krach earned the Distinguished Engineer Alumni award from Purdue University in 2006,[7] and in 2012 received the Alumni Achievement award from the National College Senior Honor Society.[34] In 2014, Business Insider recognized him as one of the 50 most powerful people in enterprise tech,[35] and the following year, the San Francisco Business Times recognized him as the most admired CEO.[36] Krach was also awarded a Dell Founder 50 award in 2015.[37]

He also received an honorary doctorate from Ohio Northern University in 2015.[38]

In 2017, Krach was a featured speaker at the F50 Global Capital Summit, an event seeking to bring together global investors with Silicon Valley’s leading venture capitalists.[39] He was additionally a featured speaker at the 2018 Sales 3.0 Conference where he spoke about leadership.[40] In 2018, Krach was highlighted in Profile magazine with a feature detailing his business approach and strategies.[41]

Krach also received an honorary doctorate in industrial engineering from alma mater Purdue University in 2018.[42]

Philanthropy

Purdue University

Through the Krach Family Foundation, he funded the Keith Krach leadership scholarship at Purdue University. It has been awarded to five students each year, since 2009.[43] In 2014, Purdue dedicated the Krach Leadership Center to honor his commitment to business, philanthropy and university leadership.[44]

Sigma Chi Fraternity

From 2005 to 2007, he served as the 64th international president, overseeing over 244 university chapters and 300,000+ lifetime members.[45] He received the Order of Constantine Award,[46] the highest honor for his service to Sigma Chi; the Significant Sig Award,[47] the highest honor for professional career; and the International Balfour Award,[48] the fraternity’s highest undergraduate honor. After Hurricane Katrina, the Krach Family Foundation and Drew Brees, a fellow Purdue Sigma Chi, teamed with hundreds of Sigma Chi undergraduates to build homes in New Orleans.[49] In 2005, Krach was inducted into the Sigma Chi Hall of Fame.

DocuSign IMPACT Foundation

Krach is the chairman of the DocuSign IMPACT Foundation, DocuSign’s philanthropic entity.[50] This nonprofit foundation provides a 1-for-1 match for DocuSign’s employees for nonprofit entities such as the Special Olympics, Team Rubicon, Techbridge Girls, Free The Children, and New Story.

He was also involved in New Story’s disaster relief initiative for Haiti, after Hurricane Matthew hit, in 2016.[51]

Additional philanthropic endeavors

Krach co-founded the Children’s Autistic Network and served on the board of governors for Opportunity International.[27][52] In 2007, he was a member of the Joint Civilian Orientation Conference in the Middle East, sponsored by the U.S. Department of Defense.[53]

Personal life

Krach lives in San Francisco, California. He is married to Metta Krach, former senior corporate counsel at Gap Inc., current member of the board of governors for the San Francisco Symphony,[54] and current member of the executive committee of the board of trustees for the Bay Area Discovery Museum.[55] They have five children.[17]

In 2015, Krach successfully caught a thief who had taken his iPhone from his hands. As Krach chased the thief, he was spotted by police officers who provided him with a “legal loophole” to retrieve his phone upon learning about his role within DocuSign, as the officers had positive experiences using DocuSign.[22]

References

  1. ↑ The Electronic Signature Market Is Poised to Take Off: Gregg Kreizman, Gartner May 21, 2012
  2. 1 2 Kim, Eugene (July 25, 2015). "This guy's last company sold for $4.3 billion — now he's back with a $3 billion startup that's replacing paper". Business Insider. Retrieved 11 August 2017.
  3. 1 2 DiCarlo, Lisa (December 7, 2000). "Top Tech Execs: Keith Krach". Forbes. Retrieved 11 August 2017.
  4. 1 2 Galer, Sara (April 27, 2011). "Angie's List announces Keith Krach as chairman of board". WTHR. Retrieved 11 August 2017.
  5. ↑ Morgan, Heather (March 31, 2016). "How This Ohio Farm Boy Built a Billion Dollar Software Empire". Inc. Retrieved 11 August 2017.
  6. 1 2 Cocking, Simon (December 12, 2017). "Leadership and Growth Insights with Keith Krach, DocuSign Chairman, Who Achieved 60x Growth as CEO". Irish Tech News. Retrieved 30 March 2018.
  7. 1 2 3 4 "Keith J. Krach - Our People - Purdue Engineering". purdue.edu.
  8. ↑ Huspeni, Andrea (July 13, 2012). "At DocuSign, Keith Krach Continues His Epic 16-Year Quest To Reinvent The Business World". Business Insider. Retrieved 11 August 2017.
  9. ↑ "Rasna Corporation". Inc. Retrieved 11 August 2017.
  10. ↑ "Parametric Tech - Current Report". ptc.com.
  11. ↑ "Benchmark Capital History". Funding Universe. Retrieved 11 August 2017.
  12. ↑ "SAP to Expand Cloud Presence With Acquisition of Ariba". SAP. May 22, 2012. Retrieved 11 August 2017.
  13. ↑ Dignan, Larry (January 2, 2002). "Update: Ariba soars up 291 percent in IPO". CNET. Retrieved 11 August 2017.
  14. ↑ "Ariba buys Tradex for $1.9B". CNN Money. December 16, 1999. Retrieved 11 August 2017.
  15. ↑ "Ariba, Inc. History". Funding Universe. Retrieved 11 August 2017.
  16. ↑ Cave, Andrew (February 24, 2015). "DocuSign This: How Keith Krach Made His Company A Verb". Forbes. Retrieved 11 August 2017.
  17. 1 2 Bessette, Chanelle (December 26, 2013). "DocuSign's CEO on getting in over your head (and succeeding)". Fortune. Retrieved 11 August 2017.
  18. ↑ Roof, Katie (January 18, 2017). "A new CEO for DocuSign". TechCrunch. Retrieved 11 August 2017.
  19. ↑ "The List: Disruptor 50". CNBC. June 17, 2014. Retrieved 11 August 2017.
  20. ↑ Konrad, Alex (September 7, 2016). "DocuSign's Secret To Faster Growth As A Cloud Unicorn: Woo Developers". Forbes. Retrieved 11 August 2017.
  21. ↑ "Forbes Announces Cloud 100". The Cloud Awards. September 14, 2016. Retrieved 30 March 2018.
  22. 1 2 Bort, Julie (August 18, 2015). "The CEO of DocuSign recently chased, and caught, an iPhone thief in San Francisco". Business Insider. Retrieved 30 March 2018.
  23. ↑ Soper, Taylor (December 6, 2016). "Facebook tops Glassdoor's 'best places to work' list for tech; Microsoft, DocuSign, Concur make top 50". GeekWire. Retrieved 11 August 2017.
  24. ↑ "When DocuSign goes public, it could be worth over $3.8 billion — here are the biggest winners". Business Insider.
  25. ↑ "Executive Profile: Keith J. Krach". Bloomberg. Retrieved 11 August 2017.
  26. ↑ Levine, Barry (July 19, 2007). "Can Ooma Make a Booma on Free Calling Plan?". CRM Daily. Retrieved 11 August 2017.
  27. 1 2 "Purdue Board of Trustees chairman announces retirement". Purdue University. June 26, 2013.
  28. ↑ Yaccino, Steven (June 21, 2012). "Indiana Governor to Be President of Purdue". New York Times. Retrieved 11 August 2017.
  29. ↑ "Keith Krach Announces Retirement From Angie's List Board of Directors". Angie's List. March 17, 2014. Retrieved 11 August 2017.
  30. ↑ McGrane, Clare (January 16, 2018). "Tech Moves: Concur co-founder Mike Hilton joins Apptentive board; Samsung cloud leader lands at AWS; and more". GeekWire. Retrieved 30 March 2018.
  31. ↑ "De Blasio Administration Announces NYCx Technology Leadership Advisory Council Members". NYC: The Official Website of the City of New York. January 11, 2018. Retrieved 30 March 2018.
  32. ↑ "DocuSign Chairman & CEO Keith Krach Honored as EY Entrepreneur Of The Year". PR Newswire. June 24, 2015. Retrieved 11 August 2017.
  33. ↑ "EY announces EY Entrepreneur Of The Year® 2015 Award Semifinalists in Northern California". March 31, 2015. Retrieved 11 August 2017.
  34. ↑ "Award Recipients". mortarboard.org.
  35. ↑ Bort, Julie (November 10, 2014). "The 50 Most Powerful People In Enterprise Tech In 2014". Business Insider. Retrieved 11 August 2017.
  36. ↑ Hoge, Patrick (November 13, 2015). "Most Admired CEOs 2015: With DocuSign, dot-com star Keith Krach has built an e-signature juggernaut (Video)". American City Business Journals. Retrieved 11 August 2017.
  37. ↑ "DocuSign and its Chairman & CEO Keith Krach Honored Among Dell Founders 50". PR Newswire. December 21, 2015. Retrieved 11 August 2017.
  38. ↑ "Ohio Northern University to Celebrate 2015 Undergraduate Ceremony". Ohio Northern University. April 28, 2015. Retrieved 11 August 2017.
  39. ↑ "Global Capital Summit 2017". F50. Retrieved 30 March 2018.
  40. ↑ "Quick Insights from the Sales 3.0 Conference in San Francisco". Sales 3.0 Conference. March 16, 2018. Retrieved 30 March 2018.
  41. ↑ "The Category Kingmaker". Profile Magazine. Guerrero.
  42. ↑ [www.purdue.edu/newsroom/releases/2018/Q2/honorary-doctorates-to-be-presented-at-purdue-spring-commencement.html "Honorary doctorates to be presented at Purdue spring commencement"] Check |url= value (help). Purdue University News.
  43. ↑ "Purdue Trustee Krach lends support to scholarships, leadership". Purdue University. March 2, 2009. Retrieved 11 August 2017.
  44. ↑ "Krach Leadership Center & Third Street Suites". Architect Magazine. October 29, 2015. Retrieved 11 August 2017.
  45. ↑ "A History of Being First at Purdue". Delta Delta Chapter. Sigma Chi Fraternity. Retrieved 11 August 2017.
  46. ↑ "Order of Constantine Recipients". Sigma Chi Fraternity. Retrieved 11 August 2017.
  47. ↑ "Our Significant Sigma Chi's". Delta Delta Chapter. Sigma Chi Fraternity. Retrieved 11 August 2017.
  48. ↑ "Finalists Announced for the 2017 International Balfour Award". Sigma Chi Fraternity. Retrieved 11 August 2017.
  49. ↑ "Krach, Brees team up to rebuild houses in New Orleans". Purdue University. June 10, 2010. Retrieved 11 August 2017.
  50. ↑ "DocuSign IMPACT Advances Disaster Relief as Part of Clinton Global Initiative and ImpactCloud.org". DocuSign. September 8, 2016. Retrieved 11 August 2017.
  51. ↑ "Top Silicon Valley Companies and Leaders Form the "Disaster Relief for Haiti Initiative"". Business Wire. October 6, 2016.
  52. ↑ "How nonprofits are capturing the interest of ultra high net worth individuals". Devex.
  53. ↑ "Keith Krach - U.S. Department of Defense Search Results". defense.gov.
  54. ↑ "Board of Governors". San Francisco Symphony. Retrieved 11 August 2017.
  55. ↑ "Board of Trustees". Bay Area Discovery Museum. Retrieved 1 December 2017.
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