That's when Cisco's head office in San Jose, Calif., decided to shelve PixStream's technology and immediately lay off 170 of its employees. For Cisco, putting PixStream on the block was just a tiny piece of a much larger restructuring effort. For PixStream and Waterloo, the news was devastating. I don' t blame Cisco for this. Not surprisingly, though, he's disappointed.
Entrepreneurs start companies for more than just money.
If they're techies like Siim, Morin and Steve Bacso, PixStream's third cofounder, being entrepreneurs means creating something that could impact the entire world. What must really be frustrating is that PixStream was doing so well on its own. Then Cisco came along. Deciding how best to reach the next level of growth is always fraught with conflict and risk. All three had graduated from engineering at the university and were working at HP developing high-speed hardware and embedded software for a line of HP terminals.