firms that “researches, finances, and invests in the highest-quality growth companies in the United States.” That’s our mission statement.
The larger banks have very fine practices in these areas, and it has become a very large business. Our firm competes in a number of ways. First, we’ve got much deeper domain expertise than the larger firms. We approach our work through what we call a “tiger team” approach, where our analysts, bankers, and private equity people work together. Our professionals work together to map the competitive landscape by understanding which are the better public and private companies in a market space. As a result, when our bankers or analysts walk into a company, they know more about the industry and the company than any of our competitors.
Second, we back up our market knowledge and insight with truly world-class professional capability. We performed the largest merger in technology history, which was the $41 billion sale of SDL to JDS, and we did more than $70 billion worth of mergers last year. I would put our M&A professionals up against any firm in Wall Street and we’re going to come out either alongside or ahead of them.
We combine deep domain expertise with world-class execution capabilities and a very focused approach. We think we’ve got a major part in the marketplace to compete with the higher-quality players. Look at our client base. Whether it’s in the communication equipment or service space, we’ve done business for not just JDS but also PNC, Sierra, and Cisco. In the software space, we recently completed an acquisition for Oracle. We’re also active in a number of other areas, such as semi-conductors and communication services, where we represented Exodus during their acquisition of Global Center. All of these transactions are multi-billion-dollar kinds of mergers where the capabilities our organization brings to bear are very different and unique and clearly competitive with our three larger competitors.
Attracting Good Hires I think a lot of what attracts people to us is that we have a clear vision, a great strategy, and a growing marketplace. Most high-quality professionals don’t get to the point of success if they don’t have an understanding of what the business opportunities are for them and for an enterprise. We’re addressing a $40 billion-plus marketplace. We have been able to ramp our firm from zero to more than 800 people within two years, and we did roughly $500 million in revenue in our second year. I think we have proven to the world that we can build a company with scale, depth, and size that is very competitive in the most competitive spaces in the capital markets. We’ve shown that we are addressing a very large marketplace and we can continue to grow.
One of the things that we’ve done is to build a diversified revenue model. We’re not just an investment bank where we have multiple products, private placements, M&A, and equity issuance. We’re not just partially IPO and partially secondaries for large companies. That is about one-third of our business in total. Another third of our business is in the institutional brokerage business. It’s a very constant flow of business, so that even though times might be very tough right now and for the next few quarters, the