Trouble At Vivato?
When Vivato and their WiFi array first came on the scene, with that great demo they have, it got everyone talking about the possibilities of using WiFi for wide-area broadband without too much work involved. However, since then, the company has never quite been able to live up to expectations. They’ve gone through a big shake up followed by the CEO leaving. The original shakeup sounded like typical post-venture-funding growing pains, but having the CEO leave before a new one was found, was not a good sign. Now, DailyWireless has noticed two more signs of trouble: Unstrung is reporting that they’ve now also lost their CTO and VP of Marketing (and the CTO is new, as they lost the last one in the August shakeup). Meanwhile, WiFiNetNews has a link to an article saying that the company is basically out of money. That would be impressive, considering they raised $45 million 6 months ago. I’ve heard of ridiculous burn rates, but it’s still pretty difficult to burn through that much money so quickly when you apparently have a product that so many people are interested in. There must be something more to this story. It certainly makes you wonder how well the technology actually works.
