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Submission Cisco Ditches Flip and $590 million->

darthcamaro writes: Remember the Flip? When Pure Digital Technology first came out with the device it was one of the hottest gadgets, providing users with an ultra-portable camcorder. Then Cisco came along and bought the Flip for $590 million in 2009. Now less than two years later, Cisco is throwing the money, 550 employees and the Flip out the door.
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Cisco Ditches Flip and $590 million

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The Wright Bothers weren't the first to fly. They were just the first not to crash.