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Upside: Linuxcare: The hits keep on coming

May 07, 2000, 02:24 (0 Talkback[s])
(Other stories by Sam Williams)

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"Linuxcare, the San Francisco-based Linux services provider and currently the open-source community's No. 1 rated soap opera, took a turn for the melodramatic this week. ... Although a Linuxcare spokesperson confirmed the layoffs, Ted Schlein, Kleiner Perkins general partner and current Linuxcare chairman, stepped forward to squash rumors that his venture firm was backing away from the beleaguered startup."

"Schlein says his current goals as chairman are twofold: "First, we need to hire a new CEO," he said. "You can't go public without a CEO. Second, we need to get the company's expense rate in line with current growth, which means reducing the cash burn."

"Asked about the prospects of selling the company vs. pursuing an IPO, however, Schlein refused to rule out either prospect. "We're trying to go with what the new marketplace gives us. Will we be opportunistic? Sure," he says. "If somebody wants to acquire the company, I'll answer the phone call."

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