Next-gen storage firm Fusion-io files for IPO
Company, which counts Facebook as its biggest customer, focuses on data centralization and has gear that lets active data be relocated to the server where it's being processed.
Enterprise storage company Fusion-io--whose largest customer is Facebook--filed today for an initial public offering, but the financials reveal an outfit that's still a work in progress.
For the six months that ended December 31, Fusion-io reported a net loss of $8.24 million on revenue of $58.3 million. For the same period a year earlier, Fusion-io reported a net loss of $13.2 million on revenue of $11.93 million. Those results show a lot of growth, but relative to other tech companies that are planning to go public--Skype and LinkedIn, for example--Fusion-io looks a little green. Still, Fusion-io has all the Wall Street heavy hitters as underwriters: Goldman Sachs, Morgan Stanley, J.P. Morgan, and Credit Suisse.
Salt Lake City-based Fusion-io has generated a good amount of buzz as a next-gen storage company focused on data decentralization. In a nutshell, Fusion-io's gear allows active data to be relocated to the server where it's being processed. Fusion-io's integrated software and hardware aims to boost data center efficiency. Fusion-io sells direct as well through Dell, HP, IBM and the channel.
Read more of "Fusion-io plans IPO; Facebook is its largest data center customer" at ZDNet's Between the Lines.