Sunday, March 4, 2007

Quote of the Year: Cisco enters social networking space

via TechCrunch
Cisco has bought social networking startup as well as Five Across. Apparently they want to start offering "social networking services" to their corporate clients.

The enormity of the stupidity amazes me. Companies should focus on what they do best. No corporate customers are going to buy more routers if Cisco throws in a social networking app for free.

This is what happens when companies don't know what to do with so much cash lying around. But still, even a share buy back would have been better than this.

At least some entertaining quote has come out of this -
“The idea that Cisco is going to be a force in social networking is about as plausible as Ning being a force in optical switches.”
- Mark Andreessen, founder of Ning (another social net)

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