Just as your IPO dreams disappeared here is the amazing Alluvio ‘lipstick-on-a-pig’!! How many times can people accept ‘stock options’ only to have them taken away? The leadership is busy making their name in the industry and promoting themselves instead of focussing on making good business decisions and caring for talent. Tons of money was spent on a rebrand when that $$$ could have gone into making the actual nexgen product. Some may be wondering why some leaders are sticking it out. They must believe in what they are saying? Right?? Haha!! For enough money (retention contracts) they will say anything!! To those with talent and dreams still at Riverbed, there is an “after-life”, so if you leverage your experience and practice your interview skills, you too can escape the asylum.
12 replies (most recent on top)
The Great Dumpling made a ki----g. The rest of us, not so much. If you’re still here, that’s your fault at this point, no matter how many Peter Principle promotions you got because everyone else left.
Apollo took a long-shot bet when it became clear that Riverbed was in danger of not keeping the lights on. (Don't believe me? Go have a look at the bankruptcy filings from December showing the company's finances, and remember how much money Apollo had JUST given the company that same quarter. Seeing that is what got me off my rear and out the door.)
Personally, I think Apollo is looking to sell off divisions as acquihires. Keep the products and revenues, sell the engineers and sales people as blocs with certain skills, keep on a skeleton crew to keep renewals coming in from customers who have no choice. It's the only profitable path that I can see, and it's the only way Overhyperion makes sense -- they're basically polishing up everyone's resume so that they can go to some place like Oracle or Microsoft and offer up parts of the company as basically pre-built product divisions with experience in Azure, C#, whatever. Not great experience maybe, but the job market is super tight right now and getting a dozen engineers without needing to make competitive offers...
It’s not like Apollo is doing such a stellar job harhar (pun intended). If their plan was to execute bankruptcy and save $10m from interest to invest into Failuvio…then they have no clue what they’re doing.
Note - the rebranding was an absolute cringe fest. What a joke.
Wow, Thoma Bravo gets off easy around here. You want to blame someone for Riverbed’s wild ride round the toilet bowl, don’t forget them.
Fourth, but who's counting.....
Yah, I get what your saying about all the losers we've had after Jerry. it was each guy's job to turn the ship around and every one of them failed. Paul especially was bad from start to finish. But Jerry's the one who pointed the ship wrong in the first place. He started from a great position with billions of $$$, while the other guy's all inherited a mess. ok, yah, better CEO's could have fixed the company's problems better than the chimpanzees we got, but I still blame Jerry for the company having those problems in the first place.
LOL - Riverbed is on its THIRD CEO since Jerry left. At some point you have to stop looking back to what happened 10 years ago and place some blame on current leaders for not developing a viable plan to salvage this mess we are in.
Yeah, Jerry successfully IPOd and got rich, but he completely messed up the leveraged buyout and is largely responsible for the pitiful state the company is in today. The whole point of the buyout was to give the company the cash to get into a market that wasn't going to vanish the way WANop so obviously was (and did), and he completely and totally botched it. He had no idea how to do anything else, spent a billion dollars on an acquisition he had no real plan for, dithered disastrously on SDWAN, and barely even tried a security play. You can draw a direct line between Jerry's incompetence and last year's bankruptcy. I hope he lost a ton of money in that bankruptcy and that it eats him up every day.
Why tell Jerry? He left years ago and successfully IPO'd the first time around (and is now living off the riches of having done so - great for him).
You should have told that to Jerry on his 20th anniversary party.
What's missing with the nextgen product?
Having seen the nextgen product up close I have got to say the money is better spend on a rebrand......