A service that is raised by three MIT graduate students was able to make Cisco smitten. Unmitigated, cash disbursed 11.4 trillion as dowry to get this startup company.
Startup question for you is Meraki, a service with employees 330 people. Meraki which was originally simply a research study at MIT in 2006, slowly started to grow rapidly with all the progression of the net.
Meraki built by Sanjit Biswas (CEO & Co-Founder), John Bicket (CTO & Co-Founder), and Hans Robertson (Co-Founder & VP of Product Management), making a cloud-based Wi-Fi network solution for mesh networking and security devices as well the software to take care of it.
Cloud-based network technology solutions created them all to easy to affect companies starting from small, medium to enterprise without necessity for the large IT department support. The best is additionally meant to conserve the company's business processes through having access to smartphones and tablet PCs.
Because the bright prospects, Meraki hasn't been difficult to get financial backing. Previous to Cisco acquired, the startup received a cash injection of EUR 80 million from several investors like Google, Felicis Ventures, and Sequoia Capital. The financial statements Meraki also fairly good, inside second quarter of 2012 is just they will make $ 20 million.
With Meraki acquired by Cisco, the 3 investors will obviously allow it to become smile. The investments expressed by them directly back quickly with additional many fold.
"We build, buy, and partner strategy is definitely driven by customer needs by capturing market transitions. Today, we're excited to announce purchasing of vital that you discuss rapid shift to the cloud network," said Cisco's VP of Corporate Development, Hilton Romanski.
In accordance with him, keen on Meraki Cisco considering that the company is "growing exponentially that has a huge margin."
While participating Sequoia Capital has $ 5 million in capital Meraki also congratulate him with this acquisition in the company's blog titled: "How are three people from MIT can alter the networking industry." In the blog what's more , it explained why Cisco was cannot Meraki frequent high prices.
"(Inside the era of cloud-based Wi-Fi at the moment) when was the past time you connected the Ethernet cable? For those who have trouble answering that question, that's a good reason why Cisco decided to acquire Meraki."
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