Citrix was founded in Richardson, Texas in 1989 by former IBM developer Ed Iacobucci with $3 million in funding. Following its initial setup and development, Iacobucci moved the company to his former home of Coral Springs, Florida. The company's first employees were five other engineers from IBM that Iacobucci convinced to join his team. Iacobucci served as chairman of the company and Roger Roberts became the CEO of Citrix in 1990. Citrix was originally named Citrus, but changed its name after an existing company claimed trademark rights. The Citrix name is a portmanteau of Citrus and UNIX.