Wired: Brand New Life for LinuxcareAug 03, 2000, 01:04 (0 Talkback[s])
(Other stories by Joanna Glasner)
"Linuxcare, a company that provides support services for Linux operating system users, got a fresh cash infusion this week."
"The significance? It comes three months after a withdrawn IPO, layoffs, and executive departures cast doubt on the firm's long-term viability."
"On Wednesday, the San Francisco company said it secured $32 million in new investments from a group of backers that included Lehman Brothers, Motorola, Sun Microsystems, and the venture arm of Dell Computers."
"Executives said they plan to use the money to expand their operations and to keep the firm afloat until it considers another stab at the public market, possibly next year. The company had filed to go public in early March -- when the market for tech stocks and Linux-related companies in particular was at its peak -- but withdrew a month later when faced with a cooling stock market and the departure of its chief executive officer."