Summary:

Silicon Valley venture fund Crescendo Ventures got a bit of bad news today – another one of their optical/telecom investments went poof …. in the air. Swedish optical component maker Optillion called it quits and filed for bankruptcy. During the boom times, this company had raised […]

Silicon Valley venture fund Crescendo Ventures got a bit of bad news today – another one of their optical/telecom investments went poof …. in the air. Swedish optical component maker Optillion called it quits and filed for bankruptcy. During the boom times, this company had raised more than $68 million from investors like Crescendo Ventures and Cisco Systems. This two were the big participants in the $53 million series B round back in 2000. Nothing like the $100 million plus investments made in other telecom disasters, but this one was right up there. Optillion’s closure shows that long haul business and products related to that market still remain as viable as chances of Kansas City Royals’ winning the world series. Sycamore Networks for instance has seen its revenues whither away and even Ciena is moving away from the long haul business.

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