Source: Cisco Takes Secretive Role As “Unnamed Silicon Valley Industry Titan” In WhipTail’s $31M RoundPosted by admin on December 21, 2012
Tech Crunch 12/14/12 –
According to multiple sources, Cisco has taken a secretive role as the “Unnamed Silicon Valley industry titan” in a $31 million round for WhipTail, a flash storage company that also took investment from SanDisk and others
The Series C round of funding included investment from Ignition Partners, RRE Ventures and Spring Mountain Capital. Silicon Valley Bank provided debt financing. SanDisk’s investment in WhipTail was made through SanDisk Ventures, the company’s newly formed strategic investment arm. Cisco’s total investment was not available. Cisco executives did not respond to a request for comment.
My source would not identify Cisco as the mysterious Silicon Valley titan. But he did say the company has one of the largest market capitalizations in the Silicon Valley and has the same name as Sysco, the giant food distributor. Ridiculous, right?
As we enter Consumergeddon, the enterprise world is turning into a giant goat rodeo and is already filled with more snake-oil salesmen than a Texas cave filled with rattlers. So this ridiculous Sysco/Cisco mystery is right in line with the characters playing this ding-dong game.
Cisco’s secrecy is almost laughable here. It’s pretty clear that this is more than just trying to keep a low profile. Its partnership with EMC is falling apart, even despite what we hear about Cisco CEO John Chambers and EMC CEO Joe Tucci being such great pals.
Really, what we have here are two companies, rich as can be, that have porked out on high margins and eight-figure country club deals for the greater part of the last 15 years. Those days are coming to an end and both John and Joe know what’s ahead: lower margins and a host of disruptions from companies like WhipTail that have the technology to give customers better efficiencies and higher performance.
Go to full article here.