x
Optical/IP

Coriolis Shuts Down

Coriolis Networks Inc. closed yesterday, a little more than a month after announcing its largest revenue equipment deployment to date (see West Looks East ...). The Sonet multiservice provisioning platform (MSPP) maker says its board decided to pull the plug after it was unable to get a funding commitment from venture capitalists.

Greg Wortman, formerly Coriolis's VP of marketing, says a consortium of banks are now meeting to decide what to do with the company's intellectual property. "Unfortunately our four customers are without any support from Coriolis," he says.

Those customers were energy subsidiary Vic Tokai (via reseller Nissho Electronics Corp.); Alaskan CLEC General Communication Inc. (GCI); Georgia-based Marietta FiberNet; and Ephrata, Pennsylvania-based D&E Communications Inc. The company also says it was on the shortlist of companies AT&T Corp. (NYSE: T) was considering in its latest multiservice access architecture request for information (RFI).

Whoa. Hold the phone. Why would a VC not want to invest in a company that already has a revenue-producing product, had an "in" at AT&T, and already has a reseller arrangement hammered out in Asia?

"[The VCs] were looking for more of a near-term exit strategy than they were able to see in the company," says Wortman. He says VantagePoint Venture Partners was the last firm that Coriolis had talked to regarding funding. Geoff Mott, managing director at Vantage Point, could not be reached for comment.

Perhaps another factor is that Coriolis didn't have enough customers and lacked a marquee account. In addition, its market perception was low compared to its competitors. In the overall results from Heavy Reading's equipment survey last year, Coriolis ranked 17 in the Sonet MSPP category and 18 in the SDH MSPP category (see Heavy Reading Surveys Telecom Vendors).

Finally, while the company had a unique MSPP, it lacked the wider next-gen Sonet product line that incumbent players hold dear. For example, the chart below shows how Nortel's Sonet products positioned against Coriolis's smaller lineup.

Table 1: Next-Gen Sonet Product Scorecard
Vendor Access CLE MSPP MSTP MSSP Core STS1/ VC4 Switch Product Breadth (1-5)
Nortel OPTera Metro 3100 OPTera Metro 3400, 3500 (Sonet); OPTera Metro 4100/4150 /4200 (SDH) OME 6500 OME 6500 OPTera Connect HDX 5
Coriolis OptiFlow 1000 OptiFlow 3000 n/a n/a n/a 2
Source: Heavy Reading

Access CLE: access customer located equipment
MSTP: multiservice transport platform
MSSP: multiservice switching platform


But maybe the real reason Coriolis couldn't find funding is because VCs didn't want to support the company's snack allowance, which it boasted of in an actual press release issued in January 2001. Here's a snippet of the release:

    During this growth spurt between year-end 1999 and year-end 2000, headcount exploded from 24 to over 100 and expenses for employee dinners at the office swelled tenfold. The snack food consumption at this fiber-optics networking company mushroomed from $200 to more than $1,500 per month. The sales and service department progressed from non-existence to a staff of 18 in just four months.
"Some CEOs think the best way to grow a business is to raise more and more venture capital dollars," Corliolis CEO Bob Castle, was quoted as saying in that infamous press release. "I prefer to grow a company with a more conservative capital position to maximize the opportunity for shareholders to get a return on their investment."

Whatever the reason for its demise, the company's remaining 55 workers are jobless, and its backers -- which include TL Ventures, EnerTech Capital, Bessemer Venture Partners, New Enterprise Associates (NEA), and Columbia Capital -- aren't getting much of a return on the more than $84 million they invested.

— Phil Harvey, Senior Editor, Light Reading

netskeptic 12/5/2012 | 2:33:26 AM
re: Coriolis Shuts Down > This may no longer be true, but the last
time I checked the IEEE health insurance offering
was only available in some states,
and MA was not one of them. :-(

And even worse, unlike other group insurances they can turn you down on preexisting condition. I can understand reduction in benefits and/or higher premiums for people with preexisting conditions, but they simply denied the coverage.

I had much better luck with Small Business Service Bureau in Worcester. But you (or your spouse) have to be really self-employed to use their services.

http://www.sbsb.com/Default.ht...

Thanks,

Netskeptic

Demander 12/5/2012 | 2:35:04 AM
re: Coriolis Shuts Down "than some wireless-bio-nuclear-anti-terrorist fast acting errection pill with nano-technology GPS locator"

Wow! do you have one those?

Demander
truelight 12/5/2012 | 2:35:38 AM
re: Coriolis Shuts Down Mangrove Networks then
Canopener 12/5/2012 | 2:35:46 AM
re: Coriolis Shuts Down "".... and partly because the ones that are failing are being propped up for other, not-entirely-commercial reasons - something which is making those who put their hard-earned money into Redfern look for avenues of redress."

Sounds Like I touched a raw nerve, sorry!"

No problem, it's not my nerve, but I do know someone who is not a happy chappy...

"I continue to see Redfern touted in the Australian press as a success and every politico seems to want to claim responsibility for creating Redfern Photonics, I just don't see the product in any areas that I work. Do you have any details on RBNI products?"

RBNI started in the metro ethernet space, but have moved back into what they see as a better niche, helping extend the reach of DSL networks - see http://www.rbni.com/applicatio... for more details. I've heard various announcements about customers, but none are listed on their website.

"To be honest my experience with Australian start-ups is that they are usually technically very component but very weak on Market understanding and Manufacturing contacts. Initially they target great technology at the wrong opportunity and than by the time that Marketing and product design get aligned they discover their manufacturing cost structure is too high and just give up, sad indeed."

Very true, but also true of a lot of start-ups. Another difficulty of being located outside of your major market is not being "in-the-loop" with understanding where trends are going. You end up being too slow to respond, and so eventually can't compete. It needs real dedication to compete from outside a major market, and it really needs a presence in the market. Israeli hi-tech companies seem to be better at this than most.


alcabash 12/5/2012 | 2:35:52 AM
re: Coriolis Shuts Down **** www.alidian.com

I guess just a coincidence. I remember their arrogant CEO (japanese dude) trying to sell his slideware to Alcatel and boasting on how he had screwed Lucent in his previous job. Alcatel ran away as soon as he opened his mouth. I was wondering what had happened to them. We now know !
3 putts 12/5/2012 | 2:36:12 AM
re: Coriolis Shuts Down
I made a mistake in my previous post. It was *not* the CTO, but the Founder and Chief Scientist that interviewed me for fishing for architectural solutions. Looking at the mgmt team pictures refreshed my memory.

How did I do that? You can visit their old website by going to www.archive.org - a virtual time machine - and entering www.coriolisnet.com.
Route_495 12/5/2012 | 2:36:19 AM
re: Coriolis Shuts Down Equipe = dead man walking.

"Like two ships passing in the night."

And hitting a sand bar...
ThurstonHowell3rd 12/5/2012 | 2:36:19 AM
re: Coriolis Shuts Down MTD,

The company name alone "ALLOPTIC" should tell you they are doomed!
ThurstonHowell3rd 12/5/2012 | 2:36:20 AM
re: Coriolis Shuts Down Unfortunatly I wouldn't give you 3 green mangos for any of them...
ThurstonHowell3rd 12/5/2012 | 2:36:21 AM
re: Coriolis Shuts Down I think we can say they've been ABR'ed out of the market place baby...

ATMRules... now that's funny...
uno04 12/5/2012 | 2:36:59 AM
re: Coriolis Shuts Down
>>www.alidian.com

That was low.... Some one really paid back or is it coincidence?

uno
uno04 12/5/2012 | 2:37:00 AM
re: Coriolis Shuts Down
>>she got couple of resumes from ALLOPTIC

Who is hiring? I am really.... interested :-). Or is it one of the phony jobs that is listed in dice/monster sites?

uno
mtd 12/5/2012 | 2:37:01 AM
re: Coriolis Shuts Down
I had lunch with a recruiter friend of mine. She told me that she got couple of resumes from ALLOPTIC engineers in the same week. Did they have an lay-off, downsize? Anyone know any details? I thought that they are one of the startups that are going to make it.

-md
Route_495 12/5/2012 | 2:37:04 AM
re: Coriolis Shuts Down
Uh uh uhhhhh.... en France' class....

Le Dead Man Walking.
Ishmeal 12/5/2012 | 2:37:13 AM
re: Coriolis Shuts Down Good one dude, good one. My hat is off to you.
alcabash 12/5/2012 | 2:37:15 AM
re: Coriolis Shuts Down Check it out, Alidian is back with a much more promising business model. good luck guys, glad to see you made it out of restructuring.

www.alidian.com
reoptic 12/5/2012 | 2:37:16 AM
re: Coriolis Shuts Down Equipe = dead man walking.
Ishmeal 12/5/2012 | 2:37:19 AM
re: Coriolis Shuts Down Can Equipe be far behind. Nagog park must be a mighty quiet place.
PO 12/5/2012 | 2:37:21 AM
re: Coriolis Shuts Down "Anyone recall whether it is two complete years or you can get benefits during your 2nd year?"

This is one of those times that I never quite know how to respond without offending many: as it turns out, there was a reason I included the URL -- this question is answered there. Folks are required to have been a member for two years already as of the time of their application, according to the website.

http://www.ieeeinsurance.com/c...
manoflalambda 12/5/2012 | 2:37:24 AM
re: Coriolis Shuts Down PO:
Following the Membership Benefits links from ieee.com, it appears that New York and Hawaii are the ineligible states. But there appear to be other important conditions on eligibility (such as being an IEEE member for the two previous years).


Anyone recall whether it is two complete years or you can get benefits during your 2nd year?

Btw, IEEE will cut the member cost in half (to $75/year) in you are unemployed.

Salute,
Manoflalambda
optoslob 12/5/2012 | 2:37:26 AM
re: Coriolis Shuts Down
Canopener wrote

".... and partly because the ones that are failing are being propped up for other, not-entirely-commercial reasons - something which is making those who put their hard-earned money into Redfern look for avenues of redress."

Sounds Like I touched a raw nerve, sorry!
I continue to see Redfern touted in the Australian press as a success and every politico seems to want to claim responsibility for creating Redfern Photonics, I just don't see the product in any areas that I work. Do you have any details on RBNI products?

It's a sad fact that those start-ups in Australia that don't get out quickly are doomed. I've seen it many times before. Somehow I thought that this might be different because there was a critical mass of Photonics expertise in Sydney (JDSU, Nortel, CSIRO, UNSW, Redfern etc ...)

To be honest my experience with Australian start-ups is that they are usually technically very component but very weak on Market understanding and Manufacturing contacts. Initially they target great technology at the wrong opportunity and than by the time that Marketing and product design get aligned they discover their manufacturing cost structure is too high and just give up, sad indeed.

optoslob

PO 12/5/2012 | 2:37:37 AM
re: Coriolis Shuts Down Following the Membership Benefits links from ieee.com, it appears that New York and Hawaii are the ineligible states. But there appear to be other important conditions on eligibility (such as being an IEEE member for the two previous years).

http://www.ieeeinsurance.com/c...

Interested folks may also want to look into the benefits of membership in the Association for Computing Machinery (ACM), www.acm.org Several insurance plans are available, although eligibility requirements are not listed on the websites.
right_leading 12/5/2012 | 2:37:41 AM
re: Coriolis Shuts Down check it.
lr_fanny 12/5/2012 | 2:37:41 AM
re: Coriolis Shuts Down Guess who the new CEO of Redfern is?


Jim Fultz!
go_to_the_light 12/5/2012 | 2:37:42 AM
re: Coriolis Shuts Down
since spring starts in march, they might have enough money until then. then it's all over.
go_to_the_light 12/5/2012 | 2:37:42 AM
re: Coriolis Shuts Down Why do we need a VP of Human Resources in a startup?

To manage all the exit interviews of course.
bfrank 12/5/2012 | 2:37:44 AM
re: Coriolis Shuts Down This may no longer be true, but the last
time I checked the IEEE health insurance offering
was only available in some states,
and MA was not one of them. :-(


atmguy 12/5/2012 | 2:37:48 AM
re: Coriolis Shuts Down >>I am unemployed in NH, an engineer and not an insurance agent! FWIW, I think you can get health insurance through the IEEE (web site ieee.org) if you are a member. They don't require that you have a job to become and member and the minimal dues run about $110-120/year.

Coverage depends on the Age also. IEEE is a bigger organization and so, it may be cheaper than cobra.
Canopener 12/5/2012 | 2:37:50 AM
re: Coriolis Shuts Down "Redfern Photonics was a really big startup in Sydney, lots of money but I never hear of any products. What little I know is that they had over 500 employees most are still there today, I think, and have VC's lined up to pump money into them (those powerpoint slides must be fantastic). Anyone know anything about their products?"

Redfern is a holding company for a number of smaller companies - Redfern Broadband Networks (RBNI), Redfern Polymer Optics, Redfern Integrated Optics, Redfern Speciality Fibers (?) which became NuFern etc.. The group still has a website at http://www.redfernphotonics.co... and some of the companies are still doing OK, eg RBNI, NuFern (whose web site had 4 current job openings). Most, as you would expect, are feeling the pinch. In general, the ones that did OK migrated to the US, the ones that didn't stayed in Aus.

Redfern is a spin-out of the Australian Photonics CRC, which also had success with other spin-out companies including Virtual Photonics, set up in Melbourne (now VPIsystems, and still going, having moved to the US) and Indx, who were purchased by JDSU, then shut down when JDSU were consolidating in the downturn.

Australian VC's don't have deeper pockets than those elsewhere, so why are these companies mostly still going? Partly because they lacked the grand build-it or bust plans of US start-ups, and partly because the ones that are failing are being propped up for other, not-entirely-commercial reasons - something which is making those who put their hard-earned money into Redfern look for avenues of redress.
technonerd 12/5/2012 | 2:37:52 AM
re: Coriolis Shuts Down Ran into a freshly minted ex-Coriolan yesterday evening who said Coriolis shut down real hard. As in no severance, no ongoing benefits (like Cobra), no vacation pay, etc.
How much you wanna bet that their top management's health insurance is paid up?
y03858 12/5/2012 | 2:37:53 AM
re: Coriolis Shuts Down Ran into a freshly minted ex-Coriolan yesterday evening who said Coriolis shut down real hard. As in no severance, no ongoing benefits (like Cobra), no vacation pay, etc.

For ex-Coriolans and others in the same boat, unless your SO has a benefitted job, you probably gots no health insurance. And for those of you in MA, I understand its hard to get that as an unemployed individual.

I am unemployed in NH, an engineer and not an insurance agent! FWIW, I think you can get health insurance through the IEEE (web site ieee.org) if you are a member. They don't require that you have a job to become and member and the minimal dues run about $110-120/year.

Best of luck to all.
ATMRules 12/5/2012 | 2:38:00 AM
re: Coriolis Shuts Down IS/WAS/WILL ALWAYS BE A RETARD!
diag_eng 12/5/2012 | 2:38:04 AM
re: Coriolis Shuts Down "Me so honny"
3 putts 12/5/2012 | 2:38:04 AM
re: Coriolis Shuts Down I was there for an interview long before the layoff, and I didn't get a good feel from the company at all.

The VP of HR was on a high horse, kept the interview going way over lunch hours without even peeking in to ask if I needed a break for lunch. The engineers that interviewed were technically good to very good, except for one that didn't know the very basic design issues, to which I answered correctly but he just didn't get it.

The last person to interview me was the CTO of the company. I figured it'd be just chit-chat and I'd breeze through it, but it turned out to be the most grueling interview. He kept asking about the architecture details of my previous jobs and the current one, and it was so apparent that he was fishing for information on how others solved the problem.

Mind you, I was applying for a senior engineer, not an architect position. It was tricky at first, because I didn't want to divulge too much information on the current company's architecture, but I got so pissed that I started answering "I don't remember" and "I don't know". I wasn't THAT desparate for the job.

I'm sorry that the company shut down. Haveing worked at a few startups, I root for others to make it through, but I didn't see any chance of this one succeeding after a day of interview.

I'm sure most of the people that worked there are good people, but the VP HR and CTO at the time completely turned me off.
Optech 12/5/2012 | 2:38:15 AM
re: Coriolis Shuts Down I'm not placing any blame on anyone, just wanted wish those last few good luck. AS a former Coriolis-er, I'm thankful I got laid off when I did
truelight 12/5/2012 | 2:38:18 AM
re: Coriolis Shuts Down Equippe or as they like to say "Equipppeeee' in French. Perhaps they can get a contract in the middle east.
truelight 12/5/2012 | 2:38:19 AM
re: Coriolis Shuts Down Bobby please don't defend the VC's.....anyone who has worked with them knows that they have problem working things out.

They are unable to quantify an opportunity because they have way to many MBA's partners who no jack when it comes to the market and the technology.

What we need is a VC fund run by real folks not MBA's.

However 4 customers after four years is bad. if you don't have at least 50 in four years your in trouble.
zillionaire 12/5/2012 | 2:38:20 AM
re: Coriolis Shuts Down money into the spring for the few remaining. No traction with any customers.
truelight 12/5/2012 | 2:38:21 AM
re: Coriolis Shuts Down Bobby please don't defend the VC's anyone who has worked with them knows that they do not know their butts from their faces.

They are unable to
truelight 12/5/2012 | 2:38:22 AM
re: Coriolis Shuts Down Bobby please don't defend the VC's anyone who has worked with them knows that they do not know their butts from their faces.

They are unable to
ATMRules 12/5/2012 | 2:38:22 AM
re: Coriolis Shuts Down Anybody hear what's going with these guys?

ATMRules.....
truelight 12/5/2012 | 2:38:22 AM
re: Coriolis Shuts Down mmmmmm sounds like the demise of Polaris as well....
zillionaire 12/5/2012 | 2:38:22 AM
re: Coriolis Shuts Down Eyesright - you are the KING

I am glad someone finally just put it out there as it is.

p.s. - the full metal jacket reference is great
yourmomshouse 12/5/2012 | 2:38:25 AM
re: Coriolis Shuts Down
Truelight I couldn't agree more, but this one was particularly bad! CEO, many founders likely drawing huge checks for much of the company's life , Business Development VP's with millions in the bank pulling from this pool as well.
In addition to all that there was the hiring of a nationwide sales force with management and of course a sales VP six months before a product launch.

WELL DONE Coriolis!
Well Done.
Look for the new management Text coming soon "How to Loose Money and Fake out VC's for years with no Repercussions"
eyesright 12/5/2012 | 2:38:26 AM
re: Coriolis Shuts Down What AT&T sez to start ups: We love your technology and we donGÇÖt like our incumbent vendors, they donGÇÖt listen to us and they arenGÇÖt innovative. They just donGÇÖt get our concept of one and none. We love you long time.

What start ups hear: They love us long time. Quick, call Ferrari of Los Gatos and order a couple of red ones!

What naive start up CEOs do: Crash entire company behind AT&T, build product specific to AT&T requirements, promise to GÇ£staff up quickly after POGÇ¥, and have dazed look on face when they lose with no back up plan (redefines the one and none concept).

What AT&T really means: What dopes. Call the incumbent vendor and leverage this to lower our prices, tell them we love them long time.
optoslob 12/5/2012 | 2:38:27 AM
re: Coriolis Shuts Down Redfern Photonics was a really big startup in Sydney, lots of money but I never hear of any products. What little I know is that they had over 500 employees most are still there today, I think, and have VC's lined up to pump money into them (those powerpoint slides must be fantastic). Anyone know anything about their products?

I heard something about a Metro CWDM system that was sold through AFC but that was a couple of years back.

Maybe being in the southern hemisphere their success is due to Coriolis effect! VC money flows in the opposite direction downunder.

optoslob
lightmaster 12/5/2012 | 2:38:29 AM
re: Coriolis Shuts Down Hatteras, PacketLight... all long in the tooth
RouterOttawa 12/5/2012 | 2:38:31 AM
re: Coriolis Shuts Down Tropic and Hyperchip are still breathing. Both appear to have morphed from their original business plans though.

Perhaps LR should have a Top-10 survivors list.
RGreg 12/5/2012 | 2:38:32 AM
re: Coriolis Shuts Down Companies hanging tough

* Calix ist still going strong, & I think they started in '99 or earlier.

* Confluent, while starting in 2000, sort of merged with part of Lightchip, which started in '99 I think.

Also, there are a few other companies, like TeraBlaze (Agere) and Telephotonics (Dupont) and Cierra Photonics (Bookham), which were gobbled up by much bigger companies when times got tough. As an earlier poster said, it's a thinning of the herd, and at least some of those guys kept their jobs.

But I feel bad for the guys I know at Coriolis... speaking from experience, going through a layoff sucks.
hrdhtr 12/5/2012 | 2:38:35 AM
re: Coriolis Shuts Down Pluris, Photonex & soon Axiowave?
PO 12/5/2012 | 2:38:39 AM
re: Coriolis Shuts Down There are many startups which have received significant positive coverage in the past, who haven't announced much positive news lately, or delivered on even the first of their promised from years past. Some have good products which haven't "broken through". Others are simply overhyped and full of execs who should never work in this industry again. We each, I'm sure, have guesses and opinions as to who is who.

I'm still waiting anxiously to see who's on LR's newest "Top Ten Startups" list. After all, it's not like there's been a lot of new startups over the last couple years.
light-headed 12/5/2012 | 2:38:40 AM
re: Coriolis Shuts Down you forgot procket, zhone and force10networks
BobbyMax 12/5/2012 | 2:38:41 AM
re: Coriolis Shuts Down When a start-up goes to VCs and presents a false picture of the technology and misrepresents qualifications of the management team, the VCs have no way to find it. In spite of the claims of VCs they do not much about management and technology.

The company ate up $84 million dollars of investor's money with nothing to show for. The management extended their tenure by not telling the truth. This practice is very common with a majority of start-ups.
truelight 12/5/2012 | 2:38:46 AM
re: Coriolis Shuts Down Alloptic is gone. The VC moved ou the people that new wat they where doing and but in some butt head cronies that know nothing and have done nothing ;-[
truelight 12/5/2012 | 2:38:47 AM
re: Coriolis Shuts Down Agreed and likely paid 120K+ for nothing. But that is the story of most startup's in the bubble. Big ideas, lots of execs and little action in getting it done. The VC community is screwed up bveciae they invest in the RESUME of the executives not what they have really done.
b
uno04 12/5/2012 | 2:38:47 AM
re: Coriolis Shuts Down >>Let's see, there's (probably includes 2000 too)...

>> Can't think of any more...

How about ALLOPTIC? They started in July 1999 and is still limping along with occasional news here and there.
ATMRules 12/5/2012 | 2:38:50 AM
re: Coriolis Shuts Down Why do we need a VP of Human Resources in a startup?....I thought startups were not big on titles....and the one at Coriolis...one word...

USELESS>>>>>>>> WASTE OF VC MONEY...you could of hired a contractor to do that job...not some old timer with ties to the CEO from former employment....

ATMRules.......
ATMRules 12/5/2012 | 2:38:50 AM
re: Coriolis Shuts Down The problems is/was..not enough revenue...duhhhh even the VC's can figure that one out........why keep putting money into this company with only 4 customers? 4 years and $80+ million....c'mon...I'm sorry people lost their jobs but in reality consolidation in the industry is good...too many startup's chasing to0 few customers....9 out of 10 startups fail in any field not just telecom...it's not 1999 anymore....

At least they lost their jobs now and not a year ago...good luck to all...

ATMRules.....
whyiswhy 12/5/2012 | 2:38:51 AM
re: Coriolis Shuts Down ...because it was most likely written off awhile back. The issue is the next $XM (presuming a washout of the existing investors) until the place breaks cash flow even. Zero base it.

Customers (check), product (check), market upside (uh, get back to you).

Having said that, I agree that financing a marginal business has got to be a lot less riskier than some wireless-bio-nuclear-anti-terrorist fast acting errection pill with nano-technology GPS locator.

But that's why VCs (and the limiteds that give them their money) is stupid!

-Why
truelight 12/5/2012 | 2:38:51 AM
re: Coriolis Shuts Down Atrica is the best Ethernet only player with over 30 customers.

Turin is the best SONET MSPP player with over 70 customers.

Movaz has a good low cost DWDM play with 20+

Don't know much about the others. Coriolis with only 4 customers is not good for them ot their investors is they have been going since 1999.

Pearl 12/5/2012 | 2:38:53 AM
re: Coriolis Shuts Down Let's see, there's (probably includes 2000 too)...
MOVAZ
LANTERN
LUMINOUS
WHITE ROCKS
ATRICA
TURIN

Can't think of any more...
lightmaster 12/5/2012 | 2:38:53 AM
re: Coriolis Shuts Down This shutdown is not about stupid VCs or stupid management. It is a simple equation. VCs have put over $80M into this company, and have given them 4 years. That's an incredible amount of time for a starup to go without breaking through. Now the investors are being asked to put even more money in on the CHANCE that this 4 year old technology will provide them with a financial gain. Would you put your money in?

now_more_than_ever 12/5/2012 | 2:38:54 AM
re: Coriolis Shuts Down How many circa 1999 startups are left ? It seems like a distant memory ...
Pearl 12/5/2012 | 2:38:55 AM
re: Coriolis Shuts Down What exactly are you trying to say... how many brews have you had anyhow? What does the CTO have to do with this? This is about VCs who have no operational experience. The Coriolis management wasn't clueless from what I hear, just not able to influence their stupid lead VCs from the last round to take a logical approach to finding a successful exist for the company.
fiberous 12/5/2012 | 2:38:59 AM
re: Coriolis Shuts Down Bob Castle is not unique. However, I dont
blame him. I blame the investors who drove
him to raise more and avoid wash outs.

It really all starts with the investors , the
board and the CTO.
If they are clueless then they will hire
a CEO who is clueless and he/she hires a more
clueless management team so that they dont
know that he/shee is clueless and pretty soon
the stuff starts to drip and slide down
all over the place!
allidia 12/5/2012 | 2:39:01 AM
re: Coriolis Shuts Down Anyone know if they were approached inlate 2000 by Siemens?
HOME
Sign In
SEARCH
CLOSE
MORE
CLOSE