back to article How Seagate lost $171m before flogging off EVault

So Seagate has offloaded its EVault cloud backup service for a mere $14m, virtually giving away what it originally bought for $185m. How did this train wreck happen? Cloud backup outfit Carbonite says it is buying “a leading provider of business continuity and disaster recovery solutions” designed for SMBs and small …

  1. Crafty volt 7

    Name changes

    Dunno why execs continually change names of products and brands as its almost certain to be a failure. eVault was a brand, changing it to i365 took it right off the radar of most people.

    Stupid idea, stupid antics and stupid financial outcomes can all be happily associated with brand name changes.

    Rule no 1 of brand name management, never change the brand name...

    For proof see what happened to NCR when it changed its name from NCR to AT&T Global Information Systems or what happened to Cabletron when it changed its name to Enterasys.

    NCR is the only AT&T Subsidiary to get its name back and its sales and recognition were restored almost as instantly as they changed the name back.

    Spin Offs like Teradata and Commvault work, but they are themselves recognized as a brand.

    As a shareholder, I feel that name changes can best be dealt with by old french technology called a guillotine for anyone making such dire suggestions that impact a business to it's own detriment.

    One has to regard such specimens partaking in such lunacy as having the collective IQ of a deceased ferret...

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