MapR misses deadline for sale, biz prospects looking thinner than a Hadoop sales pitch

MapR, the data analysis company of Hadoop and unicorn that is in trouble, did not meet its July 3 deadline to sell or close the store.

At the end of May, MapR revealed in a WARN notice in California that there were two weeks to close.

In the letter, CEO John Schroeder confirmed that he was considering two letters of intent to buy the business, but extremely poor and unexpected results in the first three months of the year had hampered negotiations for [19659002] Schroeder said in that At that time, due to this unforeseen slowdown, the "most prudent course of action" was to provide notification according to the requirements of the WARN law, an employment law designed to protect employees by ordering companies. to notify 60 days in advance about the closure or dismissal of more than 100 employees.

The June 14 deadline was extended until July 3, according to a Datanami report on June 18, which revealed that MapR had signed a letter of intent to select the company. The potential unknown acquirer was conducting the due diligence to see if he could consummate the deal.

If this process was not completed successfully, MapR anticipated that the dismissals would begin and would end from July 3 onwards. That date has already passed without an acquisition or third term being announced. The company has just over 120 employees in California.

MapR was founded in 2009 to earn money by commercializing Hadoop's open source technology. The company earned $ 280 million in seven rounds of financing, the majority of which invested $ 56 million in the fall of 2017. Investors included Google's capital, Qualcomm Ventures and Lightspeed.

However, Hadoop ran out of track and MapR was reimagined as a converged data platform. expanding to other areas, including machine learning and containers of applications based on Kubernetes.

This is a long way from the happy days of 2017, when I was planning an IPO.

Poor liquidity is the main cause of death for companies, and if MapR has not been able to solve its cash flow problems, it is also destined to join the list of the deceased.

Given today is Independence Day, Reg does not anticipate any resolution until tomorrow as soon. ®

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