Yikes, things really not looking good for Tegile at this point. I would certainly sell short if I could.
Hybrid and all-flash array supplier Tegile has had the benefit of Western Digital Corporation largesse, with the flash and disk-making giant leading its latest funding round. Tegile has picked up a $33m E-round of funding, to be used for product and go-to-market developments. The WDC connection might also have connotations in …
Wednesday 12th April 2017 07:16 GMT Anonymous Coward
Wednesday 12th April 2017 07:36 GMT Anonymous Coward
As others have said, this has got to be the end of the road. Will WD really have the desire to maintain a non-core platform? The best thing to do would be to maintain a skeleton staff to cover support and offer limited upgrades or perhaps, more ethically, encourage existing customers to look at alternative platforms if they need to expand. If Nimble couldnt turn a profit and had to be acquired to survive with its size and customer base then Tegile (and TinTri) are on borrowed time. I would also extend this to the cash burning Nutanix and Pure, which will doubtless be bought soon enough too. The day of the startup has gone for now until at least the next big innovation emerges which takes the whole industry to the next level. This isnt NVMe, by the way, which offers only a moderate speed increase where speed increase isn't needed beyond NAND for 99.999999% of customers.
Wednesday 12th April 2017 15:38 GMT Androgynous Cow Herd
Two D rounds?
Crunchbase lists 2 separate D rounds, so is this a real "E Round"? Typically the E round is the "bridge" round prior to an IPO or other exit.
I believe this is actually an "F" round. It is pretty clear the "F" does not stand for Fantastic. Tegile has taken $174M at this point and appear to be well positioned to become the American Motors of storage .
Wednesday 19th April 2017 09:14 GMT Anonymous Coward
Say "Disruptive" One More Time....
CEO Rohit Kshetrapal gave out a quote: "Tegile has always been focused on two main goals: disruptive all-flash technology and sustainable growth. This new investment in Tegile will allow us to continue on this path, all while helping enterprises and businesses of all sizes around the world transition to an all-flash data centre."
God, I hate this word.
I guess Tegile didn't get the memo about how using the term "disruptive" in any way, shape, or form to identify your company / product is essentially the kiss of death?
I've watched these guys be a total waste of space in the storage industry since their inception. Hopefully it'll all be over soon.
But hey, give the marketing genius that came up with the idea to call out a YoY growth figure that "is out-pacing the entire market..." when the entire all flash market has been slowly declining the past few quarters and now sharply due to the NAND crisis. No supply, 10-15% price increases, and the fact that everyone these days has an all-flash offering equal an obvious decline in the overall market.