// startup autopsy
Maverick Network Solutions
Financial network infrastructure casualty of the 2008 crisis
external shockAcqui-hire
Fatal mistake: Concentrated client base in financial institutions made the company fatally exposed to the 2008 global financial crisis and resulting IT spending freezes.
Key Events Timeline
FOUNDING
Maverick Network Solutions founded in the USA to deliver network infrastructure solutions to financial institutions.
FUNDING
Maverick raises $1.5M in what becomes its final funding round, just as the financial crisis begins to emerge.
REGULATORY ACTION
The collapse of Lehman Brothers triggers a global financial crisis; Maverick's financial institution clients freeze IT spending immediately.
ACQUISITION ATTEMPT
Maverick Network Solutions enters acquisition negotiations as standalone growth becomes impossible in the post-crisis environment.
SHUTDOWN
Maverick Network Solutions is fully acquired and its independent operations cease, with technology and team absorbed by the acquirer.