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Littlefeet Finds Littlebuyer

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LR Mobile News Analysis
Light Reading
5/26/2004

Swedish wireless repeater manufacturer Avitec AB has bought the assets of mini-base-station startup Littlefeet for an undisclosed sum.

The firm intends to use Littlefeet's SPICE (Small Profile Intelligent Coverage Element) product line to bolster its own product line of repeaters, which are designed to increase the range and coverage of cellular networks.

Littlefeet has a small, skateboard-sized base station that is intended to be installed on lampposts in built-up areas. This unit "talks" to another Littlefeet base station collocated at the main cell site. The entire system is designed to improve coverage in areas where it is difficult to install standard -- read large and power-hungry -- base stations (see Littlefeet's First Steps).

The man who helped to sell Littlefeet, Brian Sagi, CEO of Cerian Technology Ventures LLC says that the firm will continue to operate under its own name (although the Website appears to be down right now) and products will be on the market soon.

Sagi wouldn't be drawn on how much Littlefeet's assets sold for. But last time we spoke, Sagi noted that the selling price was likely to be somewhat less than the $60 million plus that VCs originally pumped into the company (see Littlefeet Isn't Dead...).

— Dan Jones, Site Editor, Unstrung

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RJP
RJP
12/5/2012 | 1:42:34 AM
re: Littlefeet Finds Littlebuyer
I followed this company from its inception to its end. Mostly, because I tried to get a VP sales job there. The first CEO, and English fellow now an EVP of Biz Dev. elsewhere, wasnGÇÖt ready to hire and by the time he was, he was out. The second CEO, sadly, never should have been (the CEO that is). The gist of this tale is, it was, in theory, an absolutely great product with huge potential. But like soooo many, many, many, many of these start-ups, the investors pick individuals as CEOGÇÖs who either rode the wave created by someone else in a previous company or worse, were the CEO of a previous company they sank. I donGÇÖt get it. Sorry, had to vent.
lrmobile_stealth
lrmobile_stealth
12/5/2012 | 1:42:28 AM
re: Littlefeet Finds Littlebuyer
I would like to share my own experience with you guys. Sometimes, like in my case, you are in startups with an original founder CEO, but this CEO is definitely not the guy the company needs to evolve. And you pray god that the investors will do something, but they don't, quarters after quarters. So, I believe there's no truth about CEO's history. And it's a matter of competencies.

CEO is a hard job, and that's why we need skilled/experienced people at this place.

There's perhaps too much CEO seats for too few good peoples. And investors really don't take the time to see if they picked up/trust the right guy, spending at least 2 or 3 hours per month just to look at sales funnel and few charts.
Being a VC and investing in a company is a bigger responsability than just clicking on an eject button or changing a fuse from times to times.

Take care all, and good luck in these tough days.
ball8
ball8
12/5/2012 | 1:37:42 AM
re: Littlefeet Finds Littlebuyer
This was the CEOs second bankruptcy. He just doesn't have the mental bandwidth or enough imagination for a startup. Wherever he is now, or wherever he goes, caveat emptor.
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