Klamath Falls: Telecom Start-up Calls It Quits
Just when you think things are back on the upswing, it’s always beneficial to take note of the occasional flameout. The Press Democrat of Santa Rosa, CA reports that telecom start-up Klamath Networks burned through $2 million in funding from Sevin Rosen and Fidelity Ventures, but couldn’t get a product to market. The company recently folded.
Admittedly, $2 million is not much capital, but Klamath was a re-start based on the technology “it bought from Valo Inc., a Petaluma startup that also went out of business after going through $10 million in venture capital in just two years,” according to The Press Democrat.
All in, that’s $12 million down the drain – and a good reminder that they call it venture capital for a reason.
Read: Lack of capital dooms telecom startup Klamath – [The Press Democrat]