History 2002: Cereva Networks, Spectacular Start-Up’s Flop

Investors in Cereva Networks based in Marlborough, MA, were taken to the cleaners to the tune of $157 million.

The 140-employee strong company, which hoped to challenge EMC with a multi-terabyte storage box, including multi-protocol switch and management software, closed its doors last June.

There is some small hope the company can sell off its technology, but not for nearly as much as the money poured into the venture.

This article is an abstract of news published on issue 175 on August 2002 from the former paper version of Computer Data Storage Newsletter.