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Cisco Acquires Enterprise Wi-Fi Startup Meraki For $1.2 Billion In Cash | TechCrunch
For those unfamiliar, Meraki began as a research project at MIT in 2006. It provides mid to large-size companies, schools, and organizations with on-premise mesh Wi-Fi networking and security devices plus the software to manage them. The tech makes it easy and affordable to run a powerful cloud network without a bulky IT department. It’s also designed to help businesses adapt as their employees increasingly access corporate networks from smartphones and tablets.

Earlier this year, an industry source leaked me financial data on Meraki from an all-hands meeting. It had quietly closed a $40 million funding round, was spending roughly $65 million a year, and it brought in $20 million dollars in Q2 2012 alone. Meraki had only raised $80 million in total before today’s acquisition, meaning early investors like Google, Felicis Ventures, and Sequoia may see a handsome return.
TOP  Inspiration  Profession  Startup  Entrepreneurship  Cisco  Meraki  acquisition 
november 2012 by snearch

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