Upside: Uncertain times for TurboLinux, LinuxcareOct 18, 2000, 12:32 (0 Talkback[s])
(Other stories by Sam Williams)
"Ten months ago, when San Francisco Bay Area companies Linuxcare and TurboLinux were vying for Next Big Thing status in the Linux world, both companies made sure to pay one last visit to the Silicon Valley pre-IPO cash machine."
"I would be surprised if something didn't happen by the end of the month. Their respective $32.5 million and $57 million secondary funding rounds attained at the height of December and January's Linux hysteria were viewed as merely a prelude to bigger and better things. With blockbuster IPOs such as VA Linux (LNUX) and Red Hat (RHAT) fresh in investors' minds, both companies cheerfully waited for their riches to arrive."
"Ten months later, the companies are still waiting. As most Linux investors are painfully aware, stock performance in the Linux sector has been extremely rocky. April's market slump put a damper on both companies' IPO plans. To get themselves through the tough times, both have cut staff, hired new management and survived on what little money remained in their corporate war chests."