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Both the co presidents Teresa Carlson and Shawn Bice were fired right after Doug Merritt got fired. Teresa then went back to Microsoft then to startup Flexport and got fired at Flexport in 6 months along with all other former AWS execs.
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Whoever posted this....WOW....People at Cisco know that Splunk is a dumpster fire. Oh man. They're going to be dumping a ton of Splunkers. That little horse can't save you now. hahahaha. Two interesting points I read....and these posters know their stuff....unlike junk splunk...the writing on the wall for this was happening like 3-4 years ago. Wish I was smart enough to have seen it before going to junk splunk. useless company now.
"We exited our position in Splunk Inc. (NASDAQ:SPLK) during the quarter. A number of developments caused us to question whether Splunk’s competitive position was eroding. Splunk is a premium product, and less expensive alternatives have made progress increasing the quality of their offerings. Our research has confirmed Splunk is losing market share to these players, including Microsoft’s Sentinel. Sentinel has made a number of improvements over time and integrates with Microsoft’s other products. Notably, both of Splunk’s Co-Presidents left Splunk in 2022 to work for Microsoft. Splunk’s Chief Financial Officer left a few months later. Before the CFO left, Splunk lowered its annual recurring revenue guidance for the year. While the company attributed the change to the macro environment, we were unable to differentiate to what extent the slowdown was caused by the macro environment versus competitive factors. Based on our primary research and competitive concerns, we no longer had sufficient confidence in Splunk’s value stability. Splunk no longer qualifies for investment, and we exited the position."
https://www.thelayoff.com/post/@ace+1oIPaA6B
Sad to see again how clueless Chuck and his CFO are.
Splunk is not a profitable company!
Splunk has not had profits the past 4 years.
Average losses over the past 4 years is +/-$700 MILLION PER YEAR!
Splunk has a NEGATIVE net cash position of negative - $1.5 billion ($4B debt - $2.5B cash).