The company profiled in the film, govWorks.com, was founded in 1998. The firm, originally known as Public Data Systems, produced software to help government clients track contracts and purchasing functions. As the internet boom accelerated, the company transitioned toward becoming an Internet portal. In January 2001, Tuzman and his investors sold the company to First Data Corporation.
According to public statements by govWorks.com co-founder Tom Herman, the sale resulted in a loss for the founders and investors. The company had burned through approximately $60 million in venture capital during its three years of existence.
The founders had no financial interest in the film. SEE MORE
Founder and film subject, Tom Herman, has this update.
If you are interested in tech startups, you will like this film. CONTACT: Leave me a Houston or Texas media news tip | COMMENT: Click to leave your thoughts on this post here
