Feeds

Compellent IPO a driving force?

What goes up must...

Mobile application security vulnerability report

The storage biz has once again birthed a surprisingly successful IPO — but how will adolescence treat it?

SAN specialist Compellent made the public leap earlier this week, offering shares at $13.50 under the symbol CML. From there, shares leaped to $24 at closing, almost double the initial price. Honeymoon trading didn't last, however, with share prices today hovering at $18.60. It's a rough world out there.

The company lies in the thick of a crowded marketplace. There's the big name storage vendors such as EMC, Dell, IBM, HP and Hitachi. Upstarts like 3Par, Data Domain, Lefthand Networks, EqualLogic and Netezza are jockeying for position as well.

Compellent says it stakes a claim by offering SMBs a lower cost solution to big name storage companies and vending SAN boxes that combine both FIbre Channel and iSCSI.

Revenues more than doubled from $9.5m in the first half of 2006 compared to $20.8m in the first half of 2007, but the company has yet to turn a profit.

According to SEC filings, Compellent intends to use about $10m of the proceeds for sales and marketing. About $5m will head for the R&D department and the rest goes to working capital and general corporate use.

Compellent joins other smaller storage companies such as Data Domain and Netezza, which have already jumped on a recent IPO bandwagon. ®

Bridging the IT gap between rising business demands and ageing tools

More from The Register

next story
THUD! WD plonks down SIX TERABYTE 'consumer NAS' fatboy
Now that's a LOT of porn or pirated movies. Or, you know, other consumer stuff
EU's top data cops to meet Google, Microsoft et al over 'right to be forgotten'
Plan to hammer out 'coherent' guidelines. Good luck chaps!
US judge: YES, cops or feds so can slurp an ENTIRE Gmail account
Crooks don't have folders labelled 'drug records', opines NY beak
Manic malware Mayhem spreads through Linux, FreeBSD web servers
And how Google could cripple infection rate in a second
FLAPE – the next BIG THING in storage
Find cold data with flash, transmit it from tape
Seagate chances ARM with NAS boxes for the SOHO crowd
There's an Atom-powered offering, too
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.