Cisco Pulls the Plug on EMC Rival Product Invicta
Last Friday, Cisco officially decided to kill Invicta, its computer storage product, which the IT giant snagged when it bought a startup called Whiptail in two years ago for $450 million. Whiptail's flash storage product was in direct competition with EMC's line, which is notable considering Cisco and EMC were at one close business partners. After VMWare bought Nicira—a startup that had created a network technology posing a threat to Cisco—tensions began to rise, and eventually the two split ways with EMC buying out the majority of Cisco's stake in VCE. Now, though, Cisco claims it will be working with storage partners—such as EMC—to offer flash storage with its UCS computer servers. Business Insider pointed out this could be new CEO Chuck Robbins extending an olive branch to EMC. The company has confirmed that "there are some positions that will be impacted as part of the Invicta EoL [end of life]"—but no word on exactly how many layoffs have taken place. – Business Insider
Mayor Walsh Won't Guarantee Taxpayer $ for the Olympics
In a last-minute Monday morning press conference held in the Eagle Room at City Hall, Boston Mayor Marty Walsh announced he will not yield to USOC pressure to sign a financial agreement guaranteeing taxpayer money, even if it means losing Boston's big to host the 2024 Summer Games. "Even though we're only a few months in ... I'm being asked to sign a guarantee," said Walsh. "This is a commitment that I cannot make." Walsh has publicly stated before that guaranteeing taxpayer money would be a deal-breaker for Boston's bid.
"I cannot commit to putting the taxpayers at risk," said Walsh, adding that if committing today is what is required, Boston will no longer be a candidate to host the Games in 2024.
.@marty_walsh says he won't regret roll in #Boston2024 regardless of its fate.
— Hayden Bird (@haydenhbird) July 27, 2015
Confirmed: DraftKings Raises $300M Led by Fox Networks
The first bit of funding news this week was a big one. DraftKings, the Boston-based company competing for a slice of the fast-growing daily fantasy sports pie, closed a round it's been working on for a while, with a changing roster of investors, and confirmed FOX's participation. Fox Networks Group led the round, which values DraftKings at $1.25 billion, post-money. BostInno was first to report that Fox was in the deal, in the BostInno Beat email newsletter two weeks ago. Fox took the place of Disney, which had been talking to DraftKings about investing since March at a similar valuation, but reportedly backed out of the deal due to concerns about DraftKings' incompatibility with its family image. Disney also owns ESPN. >>>Read More in New Money, our roundup of startup funding in Boston. --Galen Moore
Why SPOT's Parking Solution Could be Great for Arts & Culture
Even on sunny summer days parking in Boston is an agitating hassle. SPOT provides an alternative option to rare street spaces and expensive garages while also providing users with an additional income. Now, too, with those sunny summer days in full swing SPOT is realizing that it can be even more dextrous with its clientele. That is, the parking spaces it rents out can be to those who are looking to utilize it for more than parking. >>> Read more on BostInno – Nick DeLuca
How This New Research, Media & Events Venture Aims to Empower Freelancers
Thanks to decades of corporate layoffs, the rise of collaboration technologies and expanding opportunities for project work, their movement has been quietly gaining momentum: Freelancers and temps make up nearly 15 percent of the workforce right now, and by 2020, are expected to represent nearly 20 percent. Here’s the thing, though: The soloist life isn’t necessarily glamorous—in fact, it comes with a host of challenges that are certainly not for the faint of heart. >>> Read more on BostInno – Rebecca Strong
No Way, Jose: Why Tequila is A Lot More Than Your Worst Hangover
Paul Braun, general manager of Temazcal Tequila Cantina, which boasts 250-plus tequilas behind the bar, told us, "I think a Reposado is probably the best type of tequila to use for any cocktail or even for sipping. It’s kind of the best of both worlds; you get the aging of it and also you get the inside of what the agave brings to the spirit." >>> Read more on BostInno – Collin Spinney
