Roadkill. 20% layoff and folks are streaming out the door.
Nice product but a very competitive space and the IPO
coupled with a less than stellar sales growth curve spells
bad new in the public market.
Beleaguered array vendor Tintri has had to face reality with its latest falling quarterly sales and widening losses prompting drastic refinancing and restructuring action. Revenues of $28.9mn for Tintri's Q4 ended 31 January were down 29 per cent year-over-year – which did exceed Tintri's own guidance. Product sales (67 per …
It sure sounds to me like Tintri is putting too much faith in an acquisition, but I don't think anybody is going to acquire them. Why would they? Just wait until they run out of cash, file for bankruptcy, and then pick off the IP at fire sale prices. At that point, the investors and shareholders will be happy to take pennies on the dollar and get something back, dump it, and move on.
Just do everyone a favour and give up. The existing customers won't like it but I would bet a substantial amount that many of those are not genuine paying customers.
There sales approach was akin to used to the PPI phone calls.
They will not fold until every last drop of cash has been syphoned out by those at the top/
Any company that bet the farm with Tintri deserves to go down with them.
No company should put all their eggs in one basket, especially with a startup. Betting the farm on an established company like Dell/EMC, HPE, etc, is understandable (although I personally wouldn't do it). Doing that with a startup is just a foolish financial risk given the high rate of failure with startups.
The risk should be spread around by buying kit from multiple startups and/or established players.
I disagree - somewhat. You bet the farm on a startup, it isn't clear thinking in some cases. But a number of folks jumped on startups out of the gate and got competitive advantage. VMWare for instance. Many examples. The problem with a "Tintri" was even though the tech is sexy, you can't become enamored just with the tech. You have to keep a clear head and look at the company as a whole and do a number of "what ifs?" Discussing this with a salesdroid, he quipped... "yeah, I had someone come to me and ask about the Violin array(s) and what they could do for support and direction. Fortunately, they insisted on purchasing and it wasn't me pushing it." I feel sorry (somewhat) for the Tintri BPs that drank the kool-aid lock stock and barrel, pushed it on some of their best customers, those customers are "all-in" and the high must have been great. Now.. not so much especially the last two weeks. Tintri won't be around long, you can smell it.
So people should keep using the same things from the same vendors? why innovate with ppl like you!
We should embrace with caution innovation, and buying a ton of product from them would probably not destroy a company.
Also, a leaner company might be more profitable.. or at least less losses.
Note: I work for a startup, and our product is not just good, it is great.
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