Wow... Talk about a complete reinvention. I just read this press release and I can only think what a waste of investors' money from the start.
I am talking about Foldera, a company which started as a "developer of web-based organization and collaboration software" and now decided their market is really selling network switches.
I see this as an example of where all this "web-based" craze is going if people keep investing in good ideas with short sighted implementations. Too much money being thrown into companies with no vision, or trying to solve a problem that doesn't exist - or doing it in the wrong way.
I am posting this because I think it's relevant to a topic Ben posted today on "web 2.0 and monetisation".
Want more "fail"? Their new web-site, linked from the press release doesn't even exist yet:
SANTA ANA, Calif.--(BUSINESS WIRE)--Foldera, Inc. (OTCBB: FDRA), today unveiled the Company’s new strategy, management team, market thrust, name and capital structure by issuing the following letter to shareholders.
Dear Shareholder:
We are pleased to announce that Foldera has now successfully transitioned itself from being a developer of web-based organization and collaboration software. We have searched to find the right market, management team and product with which to take the Company forward and we would like to take this opportunity to outline the Company’s future plans.
New Strategic Direction
The Company’s principal market moving forward is with the core network infrastructure of the telephone companies, cable operators and wireless suppliers. The Company has recruited a new management team with a wealth of telecom infrastructure experience and who have already independently completed much of the software development for a High Speed, High Density Carrier Grade Ethernet Switch that will be the Company’s initial product launch. Along with our product development partners, we are continuing to develop the software and hardware in a closely integrated program that will result in timely implementation of the system using components that will exceed all carrier and prospective customer requirements.
There are other players attempting to enter these markets. Cisco Systems (CSCO), Juniper (JNPR), Force10, Alcatel-Lucent (ALA), Huawei, World Wide Packets and Foundry Networks (FDRY) clearly have well-established brand names and large customer bases. However, they also have legacy technologies and cannot re-launch into new markets with products that must be redesigned/re-architected and which would cannibalize their existing product lines. We will compete in the high density, carrier grade 10 Gigabit switch market with a switch that is both extensible and affordably scalable. This will present a ‘new standard’ in the market and the Company will be a ‘first mover’ in this segment.
The Company’s new technology will transform the Ethernet Switching market segment by developing and selling dramatically more cost-effective, scalable solutions for High Speed Ethernet switching with the industry’s first 288 10 Gigabit port Ethernet switch as our initial product launch at the National Association of Broadcasters (NAB) Show in Las Vegas in April 2009.
Corporate Name Change
As is appropriate with this major change in the Company’s direction, we have decided to change the name of the business to CeCors, Inc., an acronym for Carrier Ethernet Core Switch and pronounced ‘SeaCores.’ This will become effective in the coming weeks as the Company’s legal name, registrations, trading symbol and marketing materials are changed.
Expanding Management Expertise
The CeCors executive team brings 100+ years of combined management experience in IT and communications technology, manufacturing, sales and marketing. The team has worked together and successfully led a number of liquidity events, such as mergers and acquisitions, as well as IPO’s.
As of July 18, 2008, Jim Fiedler, an experienced and respected leader in the telecom industry, with vast experience in running early and mid-stage telecom networking and services companies, has become Chairman, President and CEO of CeCors. His experience and contacts within the industry will provide exceptional leadership into the future.
Excuse me while I laugh here. Seriously, I think Ben Kepes should look into this and analyse it further because he's the SaaS guy.
Maxnet pioneers hot aisle technology in NZ
Project expected to be completed in three years time, at a total cost of $15 million
Update Windows Live Mobile or not?
This week we got the news Microsoft has released an update for Windows Live Mobile. No, don't go updating your Windows Mobile Pocket PC yet. Read on.
First the good news: this update enhances Windows Live on your Windows Mobile. Great. But if you have Windows Live Messenger on your device (installed by an OEM), don't install this update yet. Read more.
Windows Live Mobile is really cool - it enables push e-mail for your Windows Live accounts (this includes Hotmail and even the Geekzonemail accounts).
Here is the bad news: Microsoft stopped providing Windows Live Messenger with Windows Live Mobile - a departure from earlier versions. And if you have an old Windows Live Mobile version with Windows Live Messenger, installing this new version will disable the Messenger component.
The Windows Live Messenger files are still in the system, but the program won't start at all. Uninstalling the "update" will automatically revert to the previous version and enable Windows Live Messenger again.
What is really annoying is that Microsoft makes Windows Live Messenger available for RIM BlackBerry users, but leave Windows Mobile users in the cold, waiting for operators to release their software (which we all know ain't gonna happen any time soon).
If you don't have Windows Live Mobile on your device (some OEMs don't include it), then you can download it now - and use a third party software for communicating with friends on Windows Live Messenger. Try one of the following:
- Fring (free, multiple IM systems, Skype, SIP, Twitter)
- Pocket MSN
- MSN Messenger Force
Checking your mobile data usage online is not easy: a Telecom New Zealand tale
Yesterday I posted about Telecom New Zealand's lack of a "meter" for their mobile data. Here is something that I thought would illustrate the issue well...Let's say you rent a car on a monthly basis, for work. You agree to pay $49.95 a month if you drive up to 1,000 km per billing cycle, and $1 per km after this.
You decided on 1,000 km because you thought this could cover your average daily usage multiplied by the number of days in the month.
You get the car and notice there is no meter in it, but the rental agency tells you it's ok, they are monitoring it within their system, remotely.
You drive away. During 30 days you have no exact idea of how many kms you've done. You have to keep calling the company to find out how many kms you have driven so far, and calculate to see if you are still within the expected average.
Then you receive the monthly bill. You look through five pages for something that says "kms driven this month", but instead you find "times you started the car this month". And a charge for the rental.
Does it make sense?
No. Neither does Telecom New Zealand's "data sessions" line in the bill. They don't tell us how many megabytes or gigabytes we used during the month, only how many times we used it during the period.
Telecom, are you going to fix your systems?
No comments:
Post a Comment