Upside: Linuxcare: The hits keep on coming
May 07, 2000, 02:24 (0 Talkback[s])
(Other stories by Sam Williams)
Desktop-as-a-Service Designed for Any Cloud ? Nutanix Frame
"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."
- On24: Audio: Analyst Says Future of Linux-based Companies' Stocks Is Dim(May 06, 2000)
- The Daily Deal: Linuxcare Confirms Making Layoffs(May 05, 2000)
- osOpinion: LinuxCare Must Survive(May 05, 2000)
- LinuxPlanet: On Linuxcare; Firm Announces Layoffs, Cancellation of IPO(May 04, 2000)
- ZDNet UK: Linuxcare lays off staff after pulling plug on IPO(May 04, 2000)
- The Register: Jobs blow hits Linuxcare as IPO put on hold(May 04, 2000)
- CNET News.com: Troubled Linuxcare announces major layoffs(May 04, 2000)
- WideOpenNews: Linuxcare Lays Off Part of Workforce(May 04, 2000)
- InfoWorld: Linuxcare shies from renewing IPO plan(May 04, 2000)
- TechWeb/Reuters: Linuxcare Seeks Withdrawal Of IPO(May 02, 2000)
- SRO: When It Rains, It Pours - Linuxcare loses second top official(Apr 20, 2000)