Updated: Cisco Shuts Down Eos Social Platform

Updated throughout with confirmation, comment from Dan Scheinman, the former Cisco VP in charge of Eos:
The spring cleaning continues for Cisco Systems (s CSCO). We’re hearing rumors that the San Jose, Calif.-based company is shutting down its Eos social publishing platform as part of its ongoing restructuring.
Indeed, the Eos closure has been an open secret for several weeks now, since the April 12th resignation of the department’s head Dan Scheinman. Scheinman told me in an interview today that while he’s proud of what Eos achieved technically, “the economics weren’t what we wanted, given Cisco’s larger situation.”
Cisco has yet to definitively confirm the closure, other than to say it’s “evaluating other market opportunities” for Eos and its technology. As of press time, the Eos website is still up and running, although the product’s Twitter page has been deleted.
Eos was aimed at helping media and entertainment companies to create websites and social networking features. The platform, which counted Warner Music Group (s wmg) as a major customer, was born out of Cisco’s 2007 acquisition of white-label social networking startup Five Across.
While Eos was by all accounts a very cool service, shuttering it is a smart move from a corporate strategy perspective. As evidence by the closure last month of its Flip business unit, the cool factor is no longer enough to keep a product in Cisco’s good graces. Cisco currently has all hands on deck in an effort to regain an edge in its core networking business, and non-core products such as Eos and Flip are some of the most obvious assets that need to be dumped.
No word yet on whether Cisco will sell off the Eos assets or just shut down the unit. We’ve reached out to the company for confirmation on the closure and more details, and will update this post when we receive a response.