Report: Dataupia Selling Off Assets
Judging from an IDG News report published in PC World on Friday, Cambridge, MA-based Dataupia is spinning down permanently. The maker of high-speed computing appliances for handling large business datasets has gone through yet another round of staff cuts and is putting its assets up for sale, the report says.
Xconomy reported in June that Dataupia had laid off nearly two-thirds of its staff in an attempt to conserve cash while it sought new investors. At the time, Dataupia representatives denied that the company—which has raised approximately $40 million in venture capital from the likes of Polaris Venture Partners, Fairhaven Capital, and Valhalla Partners—was in the process of shutting down. Samantha Stone, then the company’s vice president of marketing, said the existing investors had advised Dataupia to “to seek out additional funding from other sources” and that the company was scaling back operations in the meantime.
Apparently, that search has failed. Stone told Chris Kanaracus of the IDG News Service that the company’s assets are for sale, and that the staff has been reduced to a “small team” working on customer support and searching for potential acquirers. Stone was one of those laid off.
Dataupia did not immediately respond to Xconomy’s request today for confirmation and comment.
Dataupia’s servers are designed to support large-scale data warehousing and data analysis. The company’s founder, Foster Hinshaw, also founded Cambridge, MA-based Netezza, which unveiled a new line of data warehousing appliances this month that are far cheaper than its previous products. Dataupia’s most recent venture infusion, a $10 million extension of the company’s B round, came at the end of 2008.