CAMBRIDGE, MA - GrabCAD held its first ever media event to announce the integration of its Workbench product with PTC Creo. Flush with venture funding, you might have expected GrabCAD to throw a big party and invite any and all from the media to trumpet the news.
Hardi Meybaum, the charming and boyish CEO of GrabCAD, showed his shrewd side by hosting the media event on the tail end of PTC Live Global 2014, held in nearby downtown Boston. PTC had already spent a quarter million dollars* inviting over a 100 of the press and analyst community from all over the world. Hardi was able to siphon off 20+ of them with the allure of some seemingly useful product and a party with some food (the cheeses were excellent) and drinks, including one very powerful gin-based, fruity concoction (so I'm told) when PTC had closed its curtains on its annual user meeting and left the media to fend for itself.
The cost to GrabCAD: less than $5K.
GrabCAD may be casting an image of a fun, Silicon Valley start up with its open offices (CEO Hardi works at a standing desk in the midst of his people), ping pong table, free food -- I hear naps are allowed. But don't be fooled. This is not the typical, frivolous, high-burn-rate, revenue-be-damned made infamous at the height of the dot.com era. One staffer tells me of long hours. It has industry veterans in key positions, a level of adult supervision usually lacking in start-ups. GrabCAD's are clean and safe -- not ostentatious. Cambridge rents are sky-high, but GrabCAD offices are in a residential neighborhood, not the bustling center.
If I was an investor, I would think my money would be safe with GrabCAD.
Hardi Meybaum, GrabCAD CEO, at his standing desk. Frame underneath desk was cut and welded by Blake Coulter from a lamp post found lying outside the office,
*SWAG, scientific wild-ass guess, $2.5K X 100 guests. Full disclosure, TenLinks editor Roopinder Tara attended but PTC Live Global but was compensated only for some meals and registration.