Arcwave Wireless, a Los Gatos, Ca. provider of wireless networks for small businesses has shuttered, just four months after being named one of Silicon Valley’s hottest companies.
Chief Executive Bill Sickler announces the demise on the company’s Web site, saying cable operators (its targeted customers) weren’t responding to the company’s sales efforts.
Investors Comcast Interactive Capital, Lucent Venture Partners, Mayfield, SBV Venture Partners, Venrock Associates and Vulcan Capital had invested more than $11.5 million into the company.
The Business Journal may want to explain why it named Arcwave one of “Silicon Valley’s hottest up-and-coming companies” as recently as November.
(Story originally reported 4/5)