Cisco Shuts Down Flip Video, Axes 550 Employees

Flip Video, makers of the Flip Ultra, Mino, and Mino HD lines of pocket-sized flash-based camcorders, and who found themselves purchased by Cisco 2 years ago for over $ 590 million, is no more. Back in 2009 Cisco said they were acquiring Flip Video because the company was "key to Cisco's strategy to expand our momentum in the media-enabled home and to capture the consumer market transition to visual networking," according to SVP Ned Hooper. Today however, the company

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