HP Wanted $1.2B For WebOS and Palm
PolygamousRanchKid passes along this quote:
"As baffling as it may seem, HP was trying to rid itself of Palm without taking a loss on its purchase, a source with knowledge of the negotiations told [VentureBeat]. The company seemingly ignored that Palm's value had fallen significantly since HP purchased the smartphone pioneer in April 2010, thanks to the spectacular failure of the HP Touchpad tablet. And the fact that HP didn't make any progress with its new webOS phones, the Pre 3 and Veer, didn't help either. ... The $1.2 billion asking price shines some light on a story we heard from another source: At one point, HP's team tried to pitch the sale to Facebook but was practically laughed out of the room. And yes, Facebook CEO Mark Zuckerberg was present at the meeting, although he apparently didn't say much (I'm sure whatever he was thinking at the time would have been gold)."
If only the Zuck would tell us...
1.2 billion for a property which they've mostly continued to run into the ground, apart from the patent portfolio?
In a few years, Facebook might buy HP for $1.2 billion.
.....my devalued assets expert
Buying something and only then wondering what they could do with their purchase.
It has happend before. It will happen again.
Move along there, nothing to report.
Except, I'd really have liked to be a fly on the wall at the meeting with Facbook.
HP showing its usual ineptitude.
Disclaimer,
I worked at HP for 28years until they laid me off last year. Now I earn twice as much looking after the same customers & systems that I did before. Go figure.
They wanted to show that they tried every option, but they didn't actually want to sell Palm.
Why sell it and have someone else potentially give it a heartbeat again? They put it down and kept its assets in the event that they could use the narrowed field to their advantage in deep-diving back into the mobile market in the future.
Viable Slashdot alternatives: https://pipedot.org/ and http://soylentnews.org/
but when I dream, I get a pony.
"Have you ever thought about just turning off the TV, sitting down with your kids, and hitting them?"
Let's get this straight. Zuckerberg is a lucky SOB who hit the big time by accident. What he was thinking was probably something like 'this is boring, I wanna go out and score some chicks and get laid'... he isn't a nerd, he's a rich kid surrounded by lawyers and believe this, if Jobs got kicked out of his company, Zuckerberg will definitely get sidelined eventually.
Use the stash of Palm's patents against the obvious patent trolls. HP should then embrace Android.
Look at this "iPhone like" color Palm from 2001.
If anyone is going to purchase anything, it's google.
Google plus now integrated with newly acquired googlebook!
...how much patents are were left anyhow? why does everyone assume all the companies have patents - or that they have them left without licensing.
palm os was owned by palmsource, one version sold to garnett.. the only ip palm was sitting on was pretty much webos - I guess they thought they were smart fooling garnet to buying palm os from palmsource and then ditching it.
webos was then developed inhouse at palm(not palmsource).
that's how I gather it anyhow. so who owns the ip, the little there was to begin with? seen hp been doing much cease and desists lately? no? though google might still buy it, they got more money than sense(motorola is sort of a similar example, they don't sit on much patents either, the motorola that once was had been hacked up many, many times already).
(their devices can be used as prior art without buying what's left of them)
world was created 5 seconds before this post as it is.
The summary sucks (big Palm fan here, BTW). The Pre3 was never even released. It probably could have done alright. In any case, something that's never released cannot be a failure. I'd personally love to get my hands on a Verizon model (but not enough to pay $500).
Zuckerberg: "I could code your crappy little OS in a few months. I guess my time is worth around $4 million an hour."
Given that there have been no takers, perhaps HP should post this little nugget on eBay and see what offers come in. As long as they set the reserve at whatever tax loss value may still reside with keeping WebOS et al., any higher bid should be considered a gain.
since Platt. Thanks, Carly. Thanks, Mark. Thanks, Cathie. Thanks, Directors. And to think I actually kidded myself into thinking I could retire on my options. WebOS? Thanks, Léo. Thanks, Brian Humphries. See you at the unemployment office.
If "Thinking" is the correct word... WebOS is a great little OS. They could have made it a contender if they had just stood behind it. Instead they released a lackluster product, tried to sell it for about (what?) two months and then declared that since it didn't shoot to first place it is a total failure...
Honestly - with the number of bits of stupidity coming out of that company in such a steady stream I am surprised they haven't went out of business yet.
They considered selling off their hardware business (accounting for 33% of their revenue), and now they don't want to take a loss selling a company that they bought and ran into the ground.
Who, exactly, is running this company, and why?
I am John Hurt.
Nothing new under the sun. "living on the moon" execs are enjoying the new yatch, while workers are trying to keep up with mortgages and food. It happens in every institution, starting from Govt, public and private companies.... BTW, the Ark B is ready to go...
and customers who ahve already bought in, a eco-system, outside developers that are already fluent, programs already designed for the system, etc.
I had a friend like that... bought a bike for eighteen grand, rode it for eight years, when he went to sell it, he insisted the price was eighteen grand. Didn't get any takers.
Oliver's law of assumed responsibility: If you're seen fixing it, you will be blamed for breaking it.
What? Smartphone pioneer? How do they figure that?
They were a PDA pioneer, but did very little, if anything revolutionary or pioneering in the Smartphone space. They just did what everyone else was doing... they did not pioneer anything in that space. They were already pretty much washed up and a has-been by the time the smartphone revolution rolled around. Not saying their phones weren't nice or quality or anything, just saying they weren't anything revolutionary.
smartphone pioneers? That's not how I remember Palm, they were the people that made PDAs cheap and popular.
There was an unknown error in the submission.
It goes like this.. CEO of HP plays golf with CEO of Palm. Palm: my company is such a mess, we are going nowhere...HP: hey, I've got some 20Gs sitting here and... I will buy your company for those 20G if you pass me 10%, ok? Palm: deal!
Nokia still needs a modern OS which can support multi-core chips and over 512MB of RAM. Microsoft isn't able to provide that until well into 2012 so Nokia might want a capable modern OS before the end of their world in late 2012. That's when nobody knows who Nokia is anymore.
LoB
"Anyone who stands out in the middle of a road looks like roadkill to me." --Linus
Actually Palm is not that bad. Blackberry gave it a black eye, but tablets is where WebOS could have made a difference. WebOS was a great OS in 2009 and HP didn't want to let Apple and Google eat up the market leaving HP out of computing.
When Hurd left, the new CEO viewed it as a failure and never invested heavily into the product. He then went on and told customers, BestBuy, and suppliers he has no plans to sell it. Gee, that really makes me want to go out and buy one now. lol
So BestBuy got nervous and pulled the plug within 60 days of launch! UGH
Sunken costs are not popular at HP as witnessed with them killing the Alpha processor because they invested in Itanium, but the last CEO didn't care and made some enemies at the board of directors.
HP is a horribly managed company starting with Carly Fiona. When accountants run the company the value goes into the shithole and greed takes over. All the good employees leave and you have a company with accountants and no engineers left. Either HP is going to have to rebuff WebOS and beg BestBuy and Walmart for forgiveness, or sell it for pennies and accept the loss. That is a tough one for the CEO as the board of directors and shareholders will have a riot if they do not get every penny back! Ouch
http://saveie6.com/
It probably would have failed anyway, but the market never got the chance to make the ruling on that. Apotheker slaughtered the product 3 weeks after release.
If Palm and WebOS come with enough patents, then they might worth a lot.
Patents are critical these days. If you are a scummy company like Oracle, Microsoft, or Apple; you need to patents to use offensively, to restrain free trade. If you are anybody else, you need patents for defense against those scummy companies.
Also, if you one of those scummy companies you need to buy up patents before your potential victims can get the patents to defend themselves.
It's practically all that goes on in tech these days.
It not about market saturation it about ecosystem capture. You buy a smartphone then you buy apps for that phone on either the Apple or Google marketplace what do you do two years from now when you decide to get a new smartphone? Considering that you invested say more or less 100$ in apps will you switch ecosystem and lose those apps or stay inside whatever ecosystem you were in. This is why the smartphone OS market is so hard to crack for everybody but the few who got there first.
It was doomed to fail from the start despite being technologically superior at one point.
It was cuter than the first iphone and was way more usable, but it lacked the cult following required to sell the cute factor. It was better hardware than whatever crappy selections android had at the time, but it wasn't as open and it didn't have the native plethora of google apps so it didn't get the geeky nerdy following. It was a million times more useful than the blackberry, but it didn't have the support of businesses.
Look at the track record:
1) Compaq: bought 2002: Product line disappeared, brand name wrecked.
2) Digital Equipment Corporation: bought 2002: Product line disappeared, brand name wrecked.
3) Palm: bought 2010: Product line almost disappeared, brand name almost wrecked.
If a company is bought out by HP than that is the end. My guess is that HP suffers from a very, very serious case of “Not invented here syndrome.”
Just imagine... Facebook Phone, Facebook OS, Facebook Pad.... hell, I'd buy it. No really, I would--especially if it ran webOS!
I believe someones is interested in this offer. but I think the price is 600 or below.
Offer it to
1. HTC
2, Samsung
3. Google
they can use many of the patent to defend from Microsoft attack.
but if the price too high, I dont think anybody will be interesting
to get each other's mobile OSs banned from public sale. In the meantime, it would be a bright idea for some patent attorneys to look at the 'abandoned' mobile OSs to see if they conflict with the Apple / Google / M$ IP portfolios.
One of these days, a lawsuit-proof mobile OS might prove extremely valuable. Imagine the next generation of mobile OS products based on WebOS and Maemo rather than banned-from-sale iOS and Android.
And an object lesson as to why tech companies should compete on technology and marketing ability rather than on the ability to suppress competitor's products via legal means would also be a good thing, and better it be that companies I am not involved with provide it.
Tech Public Policy stuff