real-time news and commentary for investors
Thursday, Aug 15
Reuters: Nimble Storage planning IPO later this year
- Nimble Storage is planning an IPO later this year, two sources tell Reuters. The company has reportedly selected Goldman Sachs to be the lead underwriter.
- The Silicon Valley company's offers its 1,500 enterprise customers flash memory storage/back-up solutions that leverage its Cache Accelerated Sequential Layout (CASL) architecture. It has raised $98M in venture capital to date.
- Violin Memory, another flash storage start-up, has also recently eyed an IPO.
- The market has seen strong M&A activity. EMC acquired XtremIO for $430M and IBM purchased Texas Memory for an undisclosed sum last year.
- Also, shares of larger public rivals have performed well lately. NetApp is up 60% in the last year, while EMC is up 21.4%.