Former unicorn MapR desperately seeking cash as threat of closure looms

Deadline for offers is June 14 MapR Technologies, once a shining star of the emerging big data analytics set with a valuation of more than $1 billion, has two weeks to find an investor. Failure to do will see the software developer shutter its HQ and terminate 122 staff, including founder and CEO John Schroeder.…

Former unicorn MapR desperately seeking cash as threat of closure looms

Deadline for offers is June 14

MapR Technologies, once a shining star of the emerging big data analytics set with a valuation of more than $1 billion, has two weeks to find an investor. Failure to do will see the software developer shutter its HQ and terminate 122 staff, including founder and CEO John Schroeder.
The company says it is in discussions with several interested parties in an attempt to stave off the disaster.
The threat of closure was revealed in a WARN notice [PDF], required in the US whenever a business with more than 100 employees is contemplating mass layoffs.
“As a result of this notice, you should expect that your employment with the company will terminate not later than June 14, 2019. There is no provision in the company for transfer, bumping, or reassignment,” stated the letter signed by Schroeder and mailed to employees earlier this month.
He added that MapR is “currently considering two letters of intent submitted by two different entities.”
“At this juncture, however, because the potential financing that until very recently appeared to be certain is now unlikely to materialize, the co
Read More From Publisher