Buy, buy or bye-bye? MapR misses deadline to lifeline

MapR, the struggling Hadoop data analytics firm, has missed its July 3 deadline to sell out or shut up shop. Today is Independence Day, July 4, so an update is unlikely until tomorrow at the earliest.

On May 31, MapR revealed in a WARN notice in California that it was two weeks away from closure. In the WARN letter MapR CEO John Schroeder wrote the board was considering two letters of intent to buy the company. But extremely poor – and unexpected – results in the first three months of the year had torpedoed negotiations to secure debt financing.

The June 14 deadline was extended to July 3 according to a Datanami report on June 18, which revealed MapR had signed a letter of intent to sell the company. The unknown potential acquirer was performing due diligence to see if it could consummate the acquisition.

If this process didn’t complete successfully MapR anticipated it would start layoffs and close down from July 3 onwards. That date has now passed with no announcement of an acquisition or a third deadline. The company has about 120 employees based in California.

MapR’s total funding is $280m from six investing firms, including Google’s capitalG, Qualcomm Ventures and LIghtspeed.

- Advertisement -