Business & Tech
Violin Memory Flirts With IPO
The Mountain View company possibly looking for investment banks to underwrite public offering.
There could be an IPO in the works for another local company.
Violin Memory, which develops flash memory devices for data centers, might be interviewing banks to help them prepare for a potential IPO, Bloomberg News reported today. The news comes after the company was reported to be worth $800 million by Fortune last week.
According to the media outlets, the Mountain View-based company might soon file an S-1 form to the Securities and Exchange Commission and have its IPO in the fall.
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Violin Memory, founded in 2005, raised Series A funds of $18 million in 201 Series B funds of $34 million in the first quarter of 2011 and a Series C amount of $54 million also in 2011. .
It boasts that its flash memory has helped "Oracle, SQLServer, MySQL, and DB2 are just some of the databases that Violin has accelerated to record breaking performance levels."
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The company has raised money from SAP Ventures, Toshiba America, Juniper Networks, Inc., large corporate partner and crossover investment funds, and high-net worth individuals and venture capital firms.
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