With IPO markets acting like Tom Cruise, it is no surprise, even the most promising of technology companies have to scale back their plans for a public offering. The good news is that there is enough private equity/VC/hedge fund money sloshing around to carry them through.
Light Reading reports that Force 10 networks, a 10 Gigabit Ethernet Switch maker is looking to raise another $50 million, perhaps what could be the final round before the IPO. The company has raised around $300 million in funding, has about $100 million in revenues, and is valued around $455 million, LR reports. Chance of someone (???) stepping in and buying the company outright is highly unlikely…. VCs have to show big returns on this one!
{"source":"https:\/\/gigaom.com\/2006\/08\/29\/fistful-of-50-million-for-force-10\/wijax\/49e8740702c6da9341d50357217fb629","varname":"wijax_5036d1b59193bd7ecf0000b998e4dcc4","title_element":"header","title_class":"widget-title","title_before":"%3Cheader%20class%3D%22widget-title%22%3E","title_after":"%3C%2Fheader%3E"}