SoylentNews is people
SoylentNews
Docker, the technology, is the poster child for containers. But it appears Docker, the business, is in trouble. In a leaked memo, Docker CEO Rob Bearden praised workers -- despite the "uncertainty [which] brings with it significant challenges" and "persevering in spite of the lack of clarity we've had these past few weeks."
Lack of clarity about what? Sources close to the company say it's simple: Docker needs more money.
Indeed, Bearden opened by saying: "We have been engaging with investors to secure more financing to continue to execute on our strategy. I wanted to share a quick update on where we stand. We are currently in active negotiations with two investors and are working through final terms. We should be able to provide you a more complete update within the next couple of weeks."
Docker has already raised $272.9 million, but the company hasn't been profitable. It's[sic] venture-capitalist supporters -- ME Cloud Ventures, Benchmark, Coatue Management, Goldman Sachs, and Greylock Partners -- which have seen it through Series E financing, can't be happy, that after almost six-years, Docker still isn't close to an IPO.
While the previous CEO, Steve Singh, promised in May 2019 that Docker would be cash-flow positive by the end of this fiscal year, that appears not to have been the case. Otherwise, Docker wouldn't need to seek additional capital.
(Score: 3, Interesting) by VLM on Wednesday October 02 2019, @11:09AM (1 child)
https://www.docker.com/blog/docker-at-the-grace-hopper-celebration/ [docker.com]
https://www.docker.com/blog/now-open-dockercon-us-diversity-scholarship/ [docker.com]
It seems "creating and fostering diverse communities" is very expensive and marketing along those lines seems to indicate against a company becoming a successful unicorn.
(Score: 1) by i286NiNJA on Wednesday October 02 2019, @03:02PM
Pretty much all the big tech companies are pushing diversity.
It's easier to find talent if you go where other people aren't looking or at least it was before it was a fad. It also helps avoid the problem where you do something destined to fail but all of your workers are white guys from the suburbs of northern cali so they all share the same particular blind spot to the stupidity of their dumb idea.