[00:10:01] Constantijn: TomTom has been a market leader for more than 30 years, how do you get that agility in your company to adjust to everchanging market conditions?
Corinne: Back in 1991, when we founded TomTom, we were really good at creating easy-to-use software for blue-collar workers. We were building an array of different products both for B2B and B2C audiences because we wanted to have a bigger market and be able to build a brand across different industries. We bootstrapped ourselves until 2005 and then IPO-ed, because we understood that at some point we will have to make some big acquisitions to stay competitive. It was after the IPO that we decided to acquire Tele Atlas.
We anticipated that if we wanted to grow, we needed to have access to capital. And if you want to IPO, you better do it while you are growing – it’s all about the right timing in the tech industry!