Careers at Verisign
Verisign’s mission is to enable the security, safety, and reliability of Internet infrastructure.
In 1995 RSA Data Security spun off a company and named it Verisign. It was created to offer products and services that utilized encryption tools to ensure secure online transactions. Verisign developed digital IDs (also known as certificates) for individuals and corporations. The IDs used private- and public-key cryptography to authenticate the identity of a data sender and ensure privacy.
Beyond RSA, Verisign’s initial funding came from various firms devoted to solving the issue of sufficient security on the Internet. A major motivator was that this concern was hindering the development of eCommerce. These companies included Visa, Mitsubishi, Security Dynamics Technologies, Ameritech, Fischer International Systems, and Bessemer Venture Partners.
Verisign tested its IDs, soon after unveiling the first online digital certificate issuing system. It signed up 12 hardware makers to use it, including IBM, CompuServe, Netscape, Cybercash, and OpenMarket. It demonstrated the new solution at the RSA Data Security Conference in 1996. The computer industry viewed it as the missing link in safe electronic transactions.
Over the next year, Verisign formed licensing agreements with a number of major computer firms to integrate its technology into their products and services. It worked to develop a version of its system for Microsoft Internet servers; licensed its technology for use in Netscape’s newest browser; and provided digital IDs to vendors on America Online’s Primehost Storefront.
By the end of 1996 Verisign had received $30 million in investments. By the start of 1997 it was the top certificate authority and aimed to make its technology the authentication inudstry standard. In 1998 it filed an initial public offering. In 2000 it aquired a provider of domain naming services, which would become its largest business. In 2010 it sold its authentication business to Synmantec.
Business model of Verisign
Verisign has a segmented market business model, with customer groups that have slightly different needs. The company targets its offerings at consumers and businesses.
Verisign offers two primary value propositions: risk reduction and brand/status.
The company reduces risk by maintaining high security standards. It works to ensure the stability of key Internet services and infrastructure, including the authoritative directory of all .net, .com, .cc, .name, and .tv top-level domains as well as the back-end registry for generic top-level domains.
The company has established a strong brand due to its success. It manages and protects the DNS infrastructure for more than 143.2 million domain names and processes over 130 billion transactions per day. It manages two of the world's 13 internet root servers. Lastly, it has won a number of honors, including the following:
- Recognition as one of Forbes‘ Most Innovative Growth Companies in 2016
- A “Rated Outstanding Assisted Support, North America” certification from the Technical Services Industry Association (TSIA) for its Customer Service group
- Recognition in the Q3 2015 Forreter Wave for its DDoS services
Verisign’s main channel is its direct sales team; it also sells its services through indirect channels. The company promotes its offerings through its website, social media pages, advertising, and participation in summits and conferences.
Verisign’s customer relationship is primarily of a personal assistance nature. The company assists customers in the following ways:
General Support Services – Verisign offers customer service 24 hours a day, seven days a week, 365 days a year. Support is provided through phone, e-mail, and chat from employees with technical expertise. Clients can sign up for Premium Support to receive prioritized case management.
Dedicated Account Management – Verisign assigns clients a dedicated Technical Account Manager (for a fee) to provide them with a more tailored service experience. Specifically, they assist with onboarding and change management, and check in with customers at scheduled touch points.
Training Services – Verisign offers free customer user training, which includes demos.
Despite this orientation, there is a self-service component. The company’s website features a customer portal that gives clients access to account details, historical and current alerts, and standard reports.
The site also has a product knowledgebase that provides useful information about offerings. Lastly, is has a “Resource Center” that includes a number of useful resources, including white papers, eBooks, data sheets, case studies, infographics, reports, webinars, and videos.
Verisign’s business model entails designing and developing its services for its customers.
Verisign has the following types of partners:
Domain Name Resellers – The company works with firms that promote and sell its offerings in order to extend its reach. They are provided with best practice resources and marketing research tools.
Domain Name Registar – The company works with firms that register domain names for their customers in Top Level Domains (TLDs) it supports, enabling the firms to earn revenue.
Verisign’s main resources are its human resources. They include the engineers that design and develop the services it offers, the sales employees that promote and sell it, the training employees that provide instruction, and the customer service personnel that provide support.
Verisign has a value-driven structure, aiming to provide a premium proposition through significant personal service and frequent service enhancements. Its biggest cost driver is cost of revenues, a variable expense.
Other major drivers are in the areas of administration, sales/marketing, and research/development, all fixed costs.
Verisgin has one revenue stream: revenues it generates from sales of its registry/naming services.
info: James previously served as President, Chairman, and CEO of RSA Security. He has also been the Chairman of inCompass Wireless. He has significant experience in technology and is considered a security industry pioneer.
info: Burt earned a B.S. in Computer Science and Engineering, as well as an M.S. and doctorate in Computer Science and Electrical Engineering at MIT. He previously served as the Founding Director of the EMC Innovation Network.
info: George earned a Bachelor of Science in Economics and Finance at the University of Hartford and an MBA at the University of Chicago. He previously served as SVP and CFO of Internap Network Services Corporation and as CFO of Towerstream.
info: Todd earned a Bachelor of Science degree at the United States Military Academy at West Point and an MBA at Harvard Business School. He previously served as President of the Unified Communications Business Segment of West Corporation.
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