Another $100 Million for Palm From Bono & Pals

43 thoughts on “Another $100 Million for Palm From Bono & Pals”

  1. I don’t understand Elevation Partner’s rationale here. Palm is clearly the Oldsmobile of smart-phone technology and has lost to Apple, Android, Samsung, Microsoft and others. Maybe there are some baby boomers who are using the Palm platform and aren’t capable of switching to something better, but I don’t see anyone using it anymore. I used it 8-9 years ago (has it been that long?) when it came out on the Samsung i-500? But then the typical Silicon Valley leader complacency took over and their platform aged faster than gorganzola left out on a hot day. The terms that EP got are crap. They could’ve waited longer and watched Palm slip into BK and picked up the entire company for much less. I mean it’s not like you have to worry about “talent” leaving the company, right? A. Define talent. B. Where they gonna go?

  2. Currently, in the iPhone-class OS space, there’s only Apple and Google Android. Both have new OSes. Everybody else has really old stuff. Palm’s new OS is a post-iPhone OS (like Android), so they have an opportunity to be the 3rd player in that space. I have a few friends who were recently hired there – some of the smartest guys around. I’m expecting something great.

  3. > …Elevation will acquire newly issued Series C preferred stock that is convertible into Palm
    > common stock at a price of $3.25 per share…

    How MANY preferred shares did Elevation get, though?

    A rather critical number that has yet to be revealed.

  4. Palm has an opportunity here :

    1) The iPhone killers are not here inspite of the os being out for 18 months. Only iPhone like os is the google android, But that does have its own issues – It does not have exchange sync to begin with – The only GPhoneout there is a crappy looking device !
    2) Existing OS’s are having a tough time becoming touch(y) – The BB Storm by some accounts is a dud. The Nokia touch device is far out and costs as much as a kidney transplant. Palm does have a sliver of opportunity to create a great OS.
    3) The ‘traditional’ mobile phone companies Samsung and LG seem to have settled on Windows Mobile as their smart phone os of choice – It is a shitty OS and the copied badly from iPhone version (WinMo7) is delayed by another year !l
    4) The iPhone 3g inspite of being revolutionary in plenty of ways has had plenty of issues. A browser which crashes every 5 minutes and incredibly bad battery life to touch on two. (Note And yet I would not give up my iPhone any day )

    Basically as the commentor noted above, Palm seems to have some great talent ….And if Nova does not turn out to be a dud. It will be great acquisition target for somebody like Samsung or Nokia…

    The financial crisis makes things hard for palm, But if you are a carrier like Sprint, Verizon or Tmobile. You need a phone to rein in the mass exodus to ATT. All I am saying is give palm a chance !

  5. I don’t think the Palm name says “I am productive.” per se, I think it says “I don’t know that there are better options out there” or “I’m set in my ways, I don’t like changing things.”

  6. I mean, who exactly is Palm’s customer base? Cutting edge consumers? No, that’s iPhone and Android territory now. Business users? No, that’s Microsoft and RIMs territory. Even complacent, average consumers made the WinMo6 based Blackjack II the best selling phone for 2008. To convince anyone to consider them again, Nova not only has to be as good as iPhone and Android, it has to be compellingly better. I don’t see Apple or Google resting on their laurels anytime soon. Even as an acquisition target they are unattractive, to me the Palm brand name has about as much cache as Commodore or Amiga, nothing more than distant nostalgia.

  7. Let’s be honest guys, Palm is toasted.

    Treos are WinMo phones, not that any other company can come up with a similar or even better device.

    They never released the Linux-based PalmOS, their UI has been the same since 2003, compared to the iphone, palm’s products are obsolete, the centro is a zire with phone capabilities, thats it.

    With the (almost) $500M this VC has poured into palm they could have funded an innovative startup with new ideas for a change….

  8. PALM needs an Android to lift it up from the pits.

    I still like my PALM OS though and all the useful applications that are availble for it.

    PALM invented the wheel and then took the long nap behind it.

    WAKE UP….

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