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Jay Duncanson is one of four co-founders of Ascend Communications, which was acquired by Lucent for $24 billion in 1999, the largest corporate merger in U.S. history to that date. Founded in 1989, Ascend competed with Cisco and 3Com, among others in the networking space, creating equipment that was key to the Internet buildout of the 1990s. Ascend became an S&P 500 company whose stock split three times in one year and reached over 100 times its original IPO valuation. Year-over-year sales consistently topped $1 billion. As an engineer, Jay holds multiple networking patents and was a key designer of many of Ascend’s early products. As a marketing executive, he was Ascend’s direct interface to the press. As a co-founder, he worked closely with Ascend’s venture capital investors and was active in all pre-IPO investment rounds, including Ascend’s IPO roadshow presentations in 1994.