Articles about Violin Memory

Orchestra

Violin Memory steps out of bankruptcy, takes the storage stage again

+Comment Violin Memory is back, as a privately owned company fresh out of bankruptcy. The old flash array hardware and software company, which went bankrupt after a long and tortuous struggle, has been bought by Quantum Partners, a private investment fund run by Soros Fund Management LLC (SFM Private Equity). We're told Violin retains …
Chris Mellor, 25 Apr 2017
Gavel

So the co. that won the bid for VM is called (drumroll): VM Bidco...

One "VM Bidco" has been revealed as the successful bidder for Violin Memory at its auction. Violin's Chapter 11 bankruptcy filings have now revealed two failed attempts, spaced a year apart, to sell the firm. US federal court filings for the bankruptcy proceedings list document 172 which states: The highest and best value for …
Chris Mellor, 30 Jan 2017
Titanic, image via shutterstock

Time to face the music, Violin Memory: Upstart's asset auction is over

Violin Memory's assets were scheduled to be put up for auction on Monday in New York. So far, no successful bids have been announced, although a buyer could be revealed by the end of the month. Violin filed for Chapter 11 bankruptcy in December after failing to find a new owner to take it under its wing. Since October 2015, …
Chris Mellor, 26 Jan 2017
fail_parking_meter_648

Violin Memory shares collapse as it files for chapter 11

+Comment Violin Memory has bowed to the inevitable and made a Chapter 11 filing. A chapter 11 bankruptcy filing doesn't always signal it's over, but it might mean the early flash pioneer is getting there. Violin Memory's tortured struggle to stay in business now depends upon it streamlining its business further and pursuing a sale. …
Chris Mellor, 15 Dec 2016
Violin Memory VIMM

No strings attached: Violin cuts CEO’s salary

Violin Memory has cut its CEO’s base salary from from $750,000 to $150,000 a year – although it's just for three months. The information is contained in an SEC 8K filing (PDF), which states: Effective December 1, 2016, Violin Memory, Inc. (the “Company”) and Kevin A. DeNuccio, the Company’s President, Chief Executive Officer …
Chris Mellor, 13 Dec 2016

Violin Memory axes staff just before Christmas, gives CFO $150k bonus

Violin Memory is cutting staff while rewarding chief financial officer Cory Sindelar with a bonus to persuade him to stay for another two months. Merry Christmas, Silicon Valley style. Chief marketing officer Amy Love told The Register today: “Violin is resizing the company as part of its overall turnaround efforts. More news …
Chris Mellor, 2 Dec 2016
Two slices of toast

Violin Memory resembles toast

Comment February of 2014 saw Kevin DeNuccio appointed as Violin Memory's CEO. Then the shares were worth about $15. Today, 32 months later, they are worth $0.13 after a 4:1 reverse stock split and NYSE exit; so $0.0325 in "old money," with the firm now capitalized at $3.27m. Its shares have lost some 99.8 per cent of their value on …
Chris Mellor, 10 Nov 2016
Stop sign in front of a bush. Image via Shutterstock

Violin switches stock exchanges fast

In an astoundingly fast piece of work Violin Memory shares were listed and trading on the OTCQX market a day after the New York Stock Exchange said it was halting trading in Violin’s shares. The October 27 NYSE halt was due to Violin’s average market capitalisation dropping below $15mn for a 30-day period (background here.) …
Chris Mellor, 31 Oct 2016
Falling profits

NYSE halts trading in Violin Memory shares

The NYSE has suspended trading in Violin Memory shares and is delisting the stock because it has not maintained an average global market capitalisation of at least $15m over 30 consecutive trading days. NYSE_VMEM_trading_halted_note NYSE Violin Memory stock quote showing Halted status This requirement is noted in Section …
Chris Mellor, 28 Oct 2016
End of the line (train line). Photo by Shutterstock

Slowmo Violin train crash still sliding down the tracks

Comment Violin Memory’s stock is slowmo crashing, and is now down to $0.35; it was $0.65 on October 11. This values the company at just $8.85 million. The firm’s market capitalization was $20.24m on September 26, $31.3m in early May, and $76.5m in February – there has been a decline of around 88 per cent in value since then. Violin …
Chris Mellor, 24 Oct 2016
Destry_rides_again_DO_NOT_USE

Violin hunts for elusive key to regrowth

Analysis The elusive hunt for renewal and regrowth at Violin Memory has moved into a new phase – with a product launch holding up sales, sales leadership change, and the CEO focusing on finding funding for the future. Violin has cleverly managed to avoid falling off a cliff despite falling sales revenues and investor despair. It …
Chris Mellor, 26 Sep 2016
Orchestra

Violin Memory cuddles up to GlobalLogic for R&D help

Violin Memory has entered a strategic partnership with GlobalLogic to help accelerate its research and development efforts. GlobalLogic offers digital development services and has a fine roster of clients it is working with on R&D, such as Qualcom, BMC, Avid and Reuters. GlobalLogic has more than 10,000 employees. Not bad for …
Chris Mellor, 10 Aug 2016

Violin goes for reverse stock split

As expected, Violin Memory has decided on a reverse stock split to avoid NYSE delisting, as its stock price is too low. The delisting criteria are based on a stock's price being less than $1, on average, for 30 days, and Violin easily passed under that bar back in January, and has stayed mostly under it since. Violin's board …
Chris Mellor, 24 Jun 2016
Violin_Tailpiece_and_bridge

Violin Memory CTO and co-founder walks, starts up own outfit

Jon Bennett, co-founder and CTO of Violin Memory, has left Violin and set up DBM Cloud Systems, where he is CTO. Violin chief marketing officer Amy Love said: “He has moved on after more than 10 years with Violin Memory. He has joined Dixon Doll’s early stage company as CTO. We hosted an employee party for him at the end of …
Chris Mellor, 13 Jun 2016
Nimble Storage array

Flash. Arrrgh. Nimble sales down

Hybrid array and recent all-flash array supplier Nimble Storage shows the effects of its late AF-Series flash array market entry and hyper-competitive market with its first quarter-on-quarter revenue decline. Revenues of $86.4m in its first fiscal 2017 quarter were 21 per cent higher than a year ago but down 4 per cent …
Chris Mellor, 27 May 2016
Train wreck

The screeching of Violin Memory's parting strings is horrible

Another great quarter. Not. Violin Memory made a paltry $9.7m in revenue and posted a $22m loss for its first fiscal 2017 quarter. Revenues were down 20 per cent on the year-ago quarter and 11 per cent on the previous quarter, the fourth fiscal 2016 quarter, when revenues of $10.9m and losses of $25.5m were followed by lay- …
Chris Mellor, 27 May 2016
NYSE

Violin faces second NYSE delisting threat

Violin Memory is facing a second NYSE delisting threat. The company makes all-flash arrays and its revenues have been so low for so long as to result in a falling share price. The NYSE, which lists Violin’s shares, told it by letter on April 27 that it was facing delisting because its average capitalisation over a 30-day …
Chris Mellor, 9 May 2016

Build or buy: A tale of two all-flash strategies

Guest column Ever since flash was first added to traditional storage arrays back in 2008, there has been vigorous debate on the best approach to storage architectures for all-flash systems. There are a number of opposing camps, each with their own perception of the right way forward. Some vendors chose to use existing hardware and amend it …
Chris Evans, 28 Mar 2016

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