- After pricing its 18M-share IPO at $9 last night, Violin Memory (VMEM) opened at $7.50 and is currently at $7.77, down 13.7%. That gives the enterprise flash storage system vendor a market cap of $636M. The company was valued at $800M+ in a VC funding round last year.
- GSV Capital (GSVC -2.6%), which estimated its Violin stake was worth $14.4M at the end of Q2 (5.8% of the firm's NAV), is selling off in sympathy. Violin rival Fusion-io (FIO -1.6%) is moderately lower.
- S-1, IPO preview
Violin Memory IPO disappoints
Sep 27 2013, 10:00 ET