Flip is all about fun. And Cisco?
After weeks of rumours, Cisco Systems finally confirmed today that it bought Pure Digital Technologies, the maker of the popular Flip digital video camera; which sold more than two million devices since May 2007.
Flip, a new form of visual networking!
The acquisition amount is simply staggering for the popular maker of the sub $200 video cameras; around $590 million plus up to $15 million in retention bonuses.
Is Cisco’s trying to bailout Silicon Valley’s venture capital industry? The San Francisco, Calif.-based startup “only” raised around $68 million over the last 5-years from a number of firms, including Sequoia Capital and Benchmark Capital.
Will Flip, go the way Skype did for eBay?
But the biggest question is why a video camera maker, and why so much? Common Cisco folks, tell me I’m not the only one puzzling around this.
Recently, Cisco CEO recently said that in these tough economic times, “companies with cash are king, queen and the royal family,” and the San Jose, Calif.-company has over $29 billion in cash and short term investments. But, it doesn’t mean that you could waste it in over-paying for futile gadgets, John!
Pure Digital will be part of Cisco’s consumer business group, which includes Linksys home routers and set-top boxes from its acquisition of Scientific-Atlanta.
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