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March 28, 1989

ON TECHNOLOGY FAILS TO ATTRACT ENOUGH VENTURE CAPITAL

By CBR Staff Writer

Lotus Development Corp founder Mitch Kapor’s new software company, On Technology Inc in Cambridge, Massachusetts, has failed to attract enough venture capital, and has therefore had to scale back its ambitious plans to design shells for personal computer operating systems to make the things much easier to use: according to the Wall Street Journal, the company has had to lay off 11 of its 32 employees and will now develop less ambitious applications, starting out with ones for Apple Computer’s Macintosh, the first expected to be a program designed to assist people in managing random information – not too different from the Agenda program that he designed for Lotus.

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