By editorial@silicon.com, 19 April 2001 15:11
NEWS In his first interview since Hostlogic folded Goertz also admitted a crippling burn rate and failure to secure $40m funding were major factors in the company's eventual closure. Speaking to ASP News, he said: "In the end the high burn rate and the unsuccessful search for venture capital brought about our downfall." However, Goertz absolves himself and his colleagues of any blame, claiming the burn rate was a result of bad advice from naive investors. Goertz also criticised the company's customers - pointing to a misunderstanding with major client Tyco over the size of its requirements. Goertz is now making a new start with SAP consulting firm Meatra but has not ruled out a return to the ASP model in the future. By Kathrin Schmitt, reporter, silicon.de
In order to post a comment you need to be registered and logged in.
Log in or create your silicon.com account below