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Weaveworks Kubernetes company closing

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Brandon Lee
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Kubernetes specialist Weaveworks, supported by Amazon Web Services (AWS), is shutting down operations following unsuccessful acquisition efforts, as revealed by CEO Alexis Richardson.

Richardson shared on LinkedIn, “We needed a partner or investor for long-term growth. Finally, a very promising M&A process with a larger company fell through at the 11th hour. And so we decided to shut down.”

Established in 2014 and based in London, Weaveworks has been at the forefront of providing cloud-native management platforms, aiding customers in efficiently designing, building, and managing their Kubernetes platforms on a large scale. Over the years, Weaveworks attracted over $60 million in investment.

In a significant Series C funding round in 2020, the company secured $37 million, with AWS leading the charge alongside contributions from Ericsson, Orange Ventures, Sonae Investment Management, and Telekom Investment Pool.

A pivotal moment came in 2019 when AWS and Weaveworks embarked on a partnership centered on the eksctl CLI tool, a collaborative effort supporting Amazon Elastic Kubernetes Service (Amazon EKS). By July 2023, AWS transitioned the eksctl project from Weaveworks' GitHub organization to a new, jointly maintained top-level GitHub organization, an AWS blog post noted.

Weaveworks has been dedicated to simplifying the process for developers and DevOps teams to develop and manage extensive containerized applications, contributing to several key open-source projects, including Wave Scope, Weave Cortex, and Weave Flux.

Reflecting on the shutdown, Richardson noted the company's sales growth in 2023 was inconsistent, leading to a fluctuating cash position. With the failure to secure a buyer, the decision was made to cease operations.

Richardson expressed, “I could say that this should not have happened, but I know that we are not alone in this market. Bigger vessels have gone astray. I know that everyone has been so motivated to do their very best for our customers, our open-source community, and each other. You have done well and can be proud.” This closure marks a significant event within the Kubernetes and cloud-native communities, highlighting the challenges even well-supported and pioneering companies face in the evolving tech landscape.

https://www.crn.com/news/cloud/2024/aws-backed-kubernetes-company-weaveworks-closes-ceo-blames-failed-m-a

 
Posted : 05/02/2024 3:29 pm
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