Gawker
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stocks
VMware shares down 15 percent, requiring their own bailout
Shares of VMW were off 15.4 percent Friday morning. RBC Capital had seriously downgraded VMware last week from Outperform to Sector Perform, blaming “a degrading environment for global IT spending.” VMware's virtualization software is the hottest product in a hot market — it reduces the number of physical servers companies need to buy by creating multiple "virtual servers" on the same box. Wall Street sees it pretty simply: No bailout bill = no sales.
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By Paul BoutinComment by nevermind_y: "a degrading environment for global IT spending." == should mean more VMware profit; NO???ok, I maybe I got my head... more » | Other threads
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exits
VMware shares sink underwater with crew fleeing and sharks circling
New CEO Paul Maritz, formerly of Microsoft, may have just taken the helm of a sinking ship in VMware. CEO Diane Greene was unceremoniously ousted by chairman and CEO of corporate parent EMC Joe Tucci last month, leaving no women navigating any top Valley companies. Her husband, cofounder and fellow sailor Mendel Rosenblum to whom Tucci offered the CEO job and a board seat, has now officially resigned; product development VP Paul Chan soft-quit and will be gone by October; and VP of R&D Richard Sarwal moved to competitor Oracle last week (where, thanks to a recent California court decision, he does not have to honor any non-compete agreements). More »
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By Jackson WestComment by giddieup: google should take a good lock at this. this is what happens when a one trick pony company loses the... 2 Responses | Other threads
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exits
Valley's 150 biggest companies all run by men
With Diane Greene ousted as the CEO of Silicon Valley software company VMware by a jealous man and replaced by testosterone-laden former Microsoftie Paul Maritz, there's not a single woman running any of the Bay Area's largest 150 companies by revenues. We'd be less despondent about this if the up-and-coming women didn't have us so down. More »
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By Owen ThomasComment by Shadowlayer: I recently made a network on Ning for my relatives, and nobody used it. Honestly I think the entire project is... more » | Other threads
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Diane Greene
Employees loved canned VMware cofounder more than overlord EMC's CEO
Despite a fiery temper and fearsome presence in meetings, departed VMware cofounder Diane Greene isn't leaving the company with very many enemies. On workplace review site Glassdoor.com, employees gave Greene an 84 percent rating — better than the 72 percent VMware parent company EMC's worker bees gave their CEO Joe Tucci. In the section labeled, " Advice to Senior Management," one current employee, a senior systems engineer, wrote: “Listen to Diane.” Another lists VMware's "pros": More » -
joe tucci
Was EMC's CEO jealous of ousted VMware founder?
Why would VMware push out cofounder Diane Greene — heretofore remarkably successful — at the software company's very first sign of trouble? It's not like Microsoft's entry into VMware's market, which helped knock down VMware's high-flying stock, was unexpected. One theory: Joe Tucci, the CEO of EMC, which owns 86 percent of VMware, holds a personal grudge against Greene and took the opportunity push his rival out. More »
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Comment by sample032: Microsoft was interested in VMWare's business as early as 2003 when it acquired Virtual PC from Connectix, recognizing that virtualization... more » | Other threads
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hires
The return of Paul Maritz, the Microsoft menace
Why so gloomy, VMware investors? The company's stock drop, while likely driven more by the virtualization software maker's newly slenderized forecasts and the resignation of its founder, seems like a slap in the face to incoming CEO Paul Maritz. And that would be a shame, since VMware is now getting one of the princes of the software world as its boss — and just in time, as it's facing tough competition from Microsoft, where Maritz used to work. More »
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By Owen ThomasComment by 1042a6: The mode of talking (not a chirp at all but more like a mumble or little laugh) is actually due... more » | Other threads
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exits
VMware CEO and founder resigns, shares drop 30 percent
Palo Alto server virtualization software maker VMware'scofounder Diane Greene resigned today, effective immediately. Virtualization is technology that allows one server to operate like its two or more, and it was thought to be a hot growth sector. Key word being "was." The company, which EMC spun off in an IPO only last August, also lowered its revenue growth expectations for the quarter below 50 percent. More » -
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bubble 2.0
VMware down 17 percent since IPO
"There is no bubble in technology," said Facebook board member Peter Thiel in December. Tell that to investors who bought into VMware's IPO. [VMW]
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Comment by Dave Malhotra: Well $29 was the offering price. The select few who got allocations at that price were institutions, "friends and families"... more » | Other threads
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nerdfight
Microsoft, VMware bring out the brass knuckles
Enterprise IT is boring ... except when it gets lowdown and dirty. LIke it's starting to between Microsoft and VMware. Last week, Microsoft announced a "vision and strategy to accelerate virtualization adoption." We could relay the details, but they're full of jargon like "System Center Virtual Machines Manager (SCVMM)" and "RPD protocol for VDI environments." So go here for that. The best way to understand tech jargon like this is to see how companies pump up their sales guys for battle, since everyone knows sales guys are thick as rocks and must be told things in small, English-language words. Here are excerpts from a leaked VMware memo: More »
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Comment by deathbychichi: It is all noise from Microsoft so far. The real dirty tricks aren't ready to roll. When they... more » | Other threads
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virtualization
Microsoft goes for VMware's throat, throws Dell under the bus
Microsoft is releasing an early version of Hyper-V, its virtualization software, ahead of schedule. Microsoft is competing head-on with high-flyer VMware, which went public in a much-hyped IPO earlier this year. The company, which is majority owned by EMC, is off 20 percent from its all-time high last month. For the 99 percent of you whose business card doesn't say "IT Peon," here's what this means. More »
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Comment by dlord: I work at Dell and was interested in the misconception that this would "throw Dell under the bus" so thought... more » | Other threads
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wireless
Virgin Mobile IPO fails to pop
Some IPOs — like Google and VMWare—are impressive from the start. Others — like Vonage, which has fallen 85 percent since going public — fall flat. Virgin Mobile, with its cherry brand name and backers, should have had a sparkling debut. And yet it didn't. More »
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Comment by Owen Thomas: @David E. Weekly: I disagree. The notion of a perfectly priced IPO, leaving money on the table, is good in... more » | Other threads
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confonz
A tale of two conferences
CONFONZ — Last week saw two ubernerdy conferences for customers of two big software companies in San Francisco. BEA's conference at Moscone West was completely fucking empty. There were a handful of people on each floor, all looking around wondering why there was no one nearby with which to press the flesh. VMware's conference, at Moscone North and South, by contrast, was hopping. With a massive Treasure Island party and no expense spared on the food and conference bag, VMware sucked in the dollars and attention, while BEA sat unloved across the street, with nary a surly teamster to defend it. Hmmm, what's going on here? More »
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Comment by World of Warcraft Map Guy: Looks like the VMWorld schwag was basically a backpack: [www.jume.nl] At least the TC40 goody bag had something to make the... more » | Other threads
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hires
VMware's virtual lock on the job market
VMware, that boring little virtualization-software company, has gotten a lot more interesting since its moonshot IPO. The partial spinoff from corporate parent EMC was the flashiest debut since Google, and the comparisons to the search behemoth keep coming. Bloomberg is reporting that VMware is now competing with Google for the very lifeblood of Silicon Valley — developers. And it's willing to use its newfound IPO wealth to steal programmers from the rest of the Valley. Of the 1,168 jobs — 1,168! — listed on VMware's career webpage, 596 are listed under IT or R&D. With a rumored starting salary of $130K-$160K, and stock options with a current strike price around $66, look for frustrated Googlers to start trickling towards Palo Alto.
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Comment by fitt: A small tangent, but the job and work enviroment descriptions make the place sound so dull I think I may... more » | Other threads
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vmware
The return of the moonshot IPO?
Just like the Perseids that streaked across the sky this weekend, VMware, a boring little software company, is leaving a meteoric trail, up and away, on the stock ticker. Bought by EMC, the storage-hardware maker, in 2003 for a mere $635 million, VMware's backers had hoped to spin it off at a value of $10 billion. A staggering amount — but staggeringly low, it turns out. After the stock started trading today, it jumped from its $29 offering price to $55, almost doubling the company's value before the stock fell back a bit. At its peak earlier in the day, VMware was worth nearly $20 billion. Ashlee Vance of The Register has been tracking the stock live all day, as have others, but lost amidst the tick-tock of the stock price is the answer to this question: What does this mean for the Valley? More »
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