The Year in Storage IPOs

A look at the storage-related IPOs of the last year - and who's winning and losing

December 28, 2007

4 Min Read
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In an unstable IPO market, storage-related companies are holding their own -- though some are doing better than that, and several are doing worse.

Table 1: Storage-related IPOs: September 2006 through December 2007


Market category

IPO date

IPO share price

Share price on 12/27/07

Change in %

BladeLogic (Nasdaq: BLOG)

Data center automation software




Up 74%

Compellent (NYSE Arca: CML)

Enterprise SAN




Down 8%

CommVault (Nasdaq: CVLT)

Data protection software




Up 47%

Data Domain (Nasdaq: DDUP)

Disk-based data protection, de-duplication




Up 77%

Double-Take Software (Nasdaq: DBTK)

Data replication software




Up 89%

Isilon (Nasdaq: ISLN)

Clustered NAS




Down 61%

Mellanox (Nasdaq: MLNX)

InfiniBand components




Up 3%

Netezza (NYSE Arca: NZ)

Data warehouse appliances




Up 15%

Riverbed (Nasdaq: RVBD)

WAN optimization




Up 159%


Enterprise SAN




Down 6%

VMware (NYSE: VMW)

Virtualization software




Up 195%

Voltaire (Nasdaq: VOLT)

InfiniBand switches and software




Down 11%

The dozen or so companies to go public in the storage space within the last year and a half represent a mixed bag of products and services, including data center automation software (BladeLogic); enterprise SANs (3PAR and Compellent); data protection software (CommVault); de-duplication (Data Domain); replication (Double-Take); clustered NAS (Isilon); data warehousing (Netezza); WAN optimization (Riverbed); virtualization (VMware); and InfiniBand components and products (Mellanox and Voltaire).

Of these newly public companies, eight have shown growth in their share price since launching their IPOs, as shown in the list below:

  • Vmware: up 195 percent

  • Riverbed: up 159 percent

  • Double-Take Software: up 89 percent

  • Data Domain: up 77 percent

  • BladeLogic: up 74 percent

  • CommVault: up 47 percent

  • Netezza: up 15 percent

  • Mellanox: up 3 percent

The four companies that have dropped in share price line up as follows:

  • Isilon: down 61 percent

  • Voltaire: down 11 percent

  • Compellent: down 8 percent

  • 3PAR: down 6 percent

Clearly, this year's IPO winner is virtualization leader VMware, which has been unstoppable since its meteoric debut on the NYSE in August. At the other end of the spectrum is Isilon, which has battled financial woes since its IPO in December 2006. Despite a management reshuffle, Isilon struggles to meet the expectations of a public firm, even as it faces angry shareholders.

Whose next? Dell's $1.4 billion acquisition of EqualLogic ended that startup's public plans. But GlassHouse filed its S-1 last week. And others, like ONstor and Force10, seem eager to take their own IPO shots.

With the markets in their present state of flux and the level of IT spending in question for 2008, nothing's certain. Still, if customers continue their demand for products that store and protect data, some storage hopefuls may get their chance in 2008.Have a comment on this story? Please click "Discuss" below. If you'd like to contact Byte and Switch's editors directly, send us a message.

  • BladeLogic Inc.

  • CommVault Systems Inc.

  • Compellent Technologies Inc.

  • Data Domain Inc. (Nasdaq: DDUP)

  • Double-Take Software Inc. (Nasdaq: DBTK)

  • EqualLogic Inc.

  • Force10 Networks Inc.

  • GlassHouse Technologies Inc.

  • Mellanox Technologies Ltd. (Nasdaq: MLNX)

  • Netezza Corp.

  • ONStor Inc.

  • Riverbed Technology Inc. (Nasdaq: RVBD)

  • 3PAR Inc.

  • VMware Inc. (NYSE: VMW)

  • Voltaire Inc.

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