The Age – 21 July 2011
IT industry pioneer and survivor of the first dot-com bubble Dave Stevens is sceptical we’re in the midst of a dot-com II boom.
“I’m not seeing any unfounded valuations for businesses – multiples are high, but business models are credible,” he says. “The market’s a bit soft at the moment and we’re not forecasting massive growth – although we’ll take as much as we can get”.
Stevens is the founder of phenomenally successful technology company Brennan IT, one of only two companies to be named in BRW’s Fast 100 list for seven consecutive years. The company was a pioneer in its market, the first business to focus solely on selling IT services to mid-market businesses.
After running IT training programs that attracted participants from small and medium-sized entities, Stevens says he started the business “after it finally dawned on me there was a yawning gap in the mid-market. There were suppliers selling software and hardware, but no-one was focused on helping businesses achieve the right outcome with their IT system”.