Christopher R. McCleary

Christopher R. McCleary (Chris McCleary) is a technology entrepreneur best known as the founder of former application service provider company USinternetworking, Inc (USi).[1][2] He is the Managing Director and Chief Financial Officer at the Blue Chip Venture Company, a venture capital firm headquartered in Ohio.[3]

Early life

He was born September 12, 1956 in Geneva, Illinois. His father, Robert McCleary, was a research engineer with USG Corporation, and his mother, Gloria McCleary, was a real estate agent with Century 21. McCleary is a graduate of the University of Kentucky.[4]

Business ventures

Laux Communications

McCleary was the President of Laux Communications, Inc. The company was later merged into Radiation Systems, Inc.

Digex, Inc

McCleary was the chairman and chief executive officer of Digex, a national internet service provider.[1] He took over CEO duties at Digex in 1996 before leaving in 1998 to launch USI in Annapolis, Maryland.[5][6][7] In 1997, Digex acquired Intermedia Communications, a business telecommunications company in Tampa, Florida.[8]

USinternetworking

After its launch in 1998, during its first 18 months, USI raised nearly $500 million from investors.[5] It never posted a profit.[9] McCleary stepped down as CEO in July 2000, but retained his position of chairman of the board.[10] Despite infusions of investor cash, the company went into chapter 11 bankruptcy in early 2001.[1] It was a preplanned restructuring which lead to the firm being acquired by Bain Capital, Inc. Bain Capital later sold it to AT&T.[11]

McCleary later stated that "his one regret is not having fought harder to save USi", but that it would not have been possible due to his family issues and the collapse of the World Trade Center all occurring at the same time.[1] Usinternetworking still runs today as part of IBM.

Evergreen Assurance

In 2003, McCleary founded Evergreen Assurance in Baltimore, Maryland. Evergreen was intended to assist businesses in recovering email and digital records in the event of a disaster.[1] Evergreen was acquired by its competitor, MessageOne, in 2004.[12][13] Since leaving Evergreen, McCleary has served on the board of directors of several tech companies.

Other positions

In 2000, McCleary was the chair of an advisory board of tech executives that helped the then Maryland Governor, Parris Glendening to launch his e-commerce initiatives for the 2000 legislative session.[14]

In 2006, McCleary was appointed the director of Blue Chip Venture Company. Blue Chip had previously invested in Digex, USI, and Evergreen Assurance.[15] In September 2006, McCleary was elected chairman of the board for Radware.[16] In 2008, McCleary joined the board of directors of Hosting.com, a managed services and colocation provider.[17]

McCleary serves on the board of Baltimore Emerging Technology Center business incubator and as chairman of the investment committee.[18][19] He is a member of the board of directors of the State of Maryland Venture Fund.[20][21] McCleary has served on the board of trustees of Anne Arundel Community College in Annapolis Maryland.

Awards and recognition

In 1999, the Annapolis and Arundel County Chamder of Commerce awarded McCleary with Arnie C.Gay Service Award for his nourishing business in the county.

McCleary was awarded the Ernst and Young Entrepreneur of the Year Award for Software in 2000[17] and Washington Post Newsweek Corporate Citizen of the Year 2000.[22]

References

1. Noguchi, Yuki (2003-03-07). "This Time, The Firm Turns Around The CEO". Washington Post. ISSN 0190-8286. Retrieved 2018-01-15.
2. McCarthy, Ellen (2005-11-17). "Ellen McCarthy - Venturing In From Outside". ISSN 0190-8286. Retrieved 2018-01-15.
3. "Executive Profile - Christopher R. McCleary". Bloomberg. Retrieved 22 February 2019.
4. Gottlieb, Richard (2008-05-15). The Directory of Venture Capital & Private Equity Firms 2008: Domestic and International. Grey House Publishing. p. 104. ISBN 9781592372720.
5. "USi Out to Defy Wall Street Worries; After Layoffs, New Investments, High-Tech Firm Vows to Succeed". 2001-05-10. Archived from the original on 2018-01-16.
6. Corcoran, Elizabeth (26 July 1999). "The e-gang". Forbes.
7. West, Norris (11 June 2000). "Internet provider provides for city". The Baltimore Sun.
8. "Md.-based Internet company agrees to be acquired". Washington Business Journal. American City Business Journals. 5 June 1997.
9. "USinternetworking Revenue Rose". 2000-07-26. Archived from the original on 2018-01-16.
10. Network World. IDG Network World Inc. 2000-07-31. p. 27.
11. Terdiman, Rita. "Bain's Capital Energizes USinternetworking and the ASP Market". Gartner. Archived from the original on 2 March 2019. Retrieved 12 October 2001.
12. Weiss, Todd R. "MessageOne acquires Evergreen Assurance". Computerworld. Retrieved 2018-01-15.
13. Terry, Robert. "McCleary to sell latest tech firm to Texas rival". Baltimore Business Journal. American City Business Journals. Retrieved 4 October 2004.
14. "Glendening launches e-commerce agenda". Washington Business Journal. American City Business Journals. 3 February 2000.
15. "Blue Chip Venture Company Names McCleary as Director". MarketWired. 2006-01-24. Retrieved 2018-01-15.
16. Radware. "Christopher R. McCleary Elected Chairman of the Board". www.radware.com. Retrieved 2018-01-15.
17. "Hosting.com Announces Christopher McCleary Joining Board of Directors".
18. "Archived copy". Archived from the original on 2009-02-03. Retrieved 2009-03-05.CS1 maint: archived copy as title (link)
19. Dance, Scott (2007-03-16). "McCleary among four directors named to ETC board". www.bizjournals.com. Retrieved 2018-01-15.
20. "Archived copy". Archived from the original on 2009-02-23. Retrieved 2009-03-05.CS1 maint: archived copy as title (link)
21. "Maryland Venture Fund names McCleary to board". Cincinnati Business Courier. American City Business Journals. Retrieved 25 May 2006.
22. "Executive Profile - Christopher R. McCleary". Bloomberg.