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Hey, These IPO Things Actually Work
Somebody's gonna have a very merry Christmas - once they sober up

Somebody's gonna have a very merry Christmas - once they sober up.

Clustered storage start-up Isilon Systems Inc went public last Friday nominally pricing its shares at $13 although the broad market never saw that price - it opened $25 ending up 78%. It has yet to give back any ground. It was the third biggest opening day gain of the year - the biggest if you just count technology.

Isilon's performance is seen as a weather vane for how Mellanox, whose IPO is practically upon us, might do, not to mention 3PAR's and eventually Panasas' - should conditions hold.

Unlike Isilon, which raised $109 million with $15 million in losses and revenues up more than 3x to $41 million the first nine months, Mellanox actually has some earnings to put on the table and a bigger revenue base.

Morgan Stanley and Merrill Lynch managed the Isilon debut.

Isilon was funded by Lehman Brothers, Sequoia Capital, Atlas Ventures and Madrone.

About Security News Desk
SYS-CON's Security News desk trawls the world of security for news of software, hardware, products, and services that seems likely to be of interest to infosec professionals and summarizes them for easy assimilation by busy IT managers and staff.

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