New Leader For FalconStor
FalconStor, once a darling of Wall Street and the channel, needs help. The company, a pioneer in storage virtualization, particularly in virtual tape library technology, was a hit with investors early this century with share prices that briefly reached over $60 per share but have more recently languished in the 25-cent range.
Todd Oseth, who on July 1 took over as president and CEO of the Melville, N.Y.-based storage software vendor, acknowledged in a far-reaching conversation with CRN that FalconStor is currently not cash-flow-positive, and may indeed require a cash infusion to grow despite recent cost-cutting measures including layoffs.
However, Oseth also believes strongly that FalconStor has a future based on its FreeStor software platform, which provides intelligent abstraction and predictive analytics on business data and helps customers take the right actions based on that information.
Here's what Oseth tells CRN about FalconStor and its plans going forward.