Gadzoox
Storage area network company
From Wikipedia, the free encyclopedia
Gadzoox Networks, Inc. produced hardware and software for the entry-level storage area network market. Products, which included Slingshot switches and Geminix routers, supported SCSI-FCP and focused on allowing servers to communicate with storage devices via FC-AL switches and hubs.[1][2]
| |
| Founded | 1996 |
|---|---|
| Defunct | 2003 |
| Fate | Bankruptcy; acquired by Broadcom |
| Headquarters | San Jose, California |
In 2000, at the peak of the dot-com bubble, the company was valued at $2 billion; however, after filing bankruptcy in 2002, its assets were acquired by Broadcom in 2003 for $5.8 million, a 99.9% decline in value.
History
The company was founded in 1996.[3] The name Gadzoox was supposed to be temporary but was retained at the urging of investors.[4]
In July 1999, during the dot-com bubble, the company became a public company via an initial public offering, pricing 3.5 million shares at $21/share. Shares closed at $74.81/share on their first day of trading, giving the company a market capitalization of $1.97 billion.[5][6]
In March 2000, the company acquired SmartSAN for $23.5 million.[7]
In June 2000, the company launched Axxess.[2][8]
In August 2000, Bill Sickler, the CEO of the company, and Christine E. Munson, the CFO of the company, resigned after announcing a financial restatement.[9]
In April 2001, the company launched the Slingshot 4218 switch.[1]
In January 2002, the company raised $8.9 million in funding.[10]
Sales declined from $48 million in the fiscal year ended March 2000 to $22 million in the fiscal year ended March 2002.[11]
In June 2002, Steve Dalton was named CEO.[12]
In August 2002, the company filed bankruptcy.[13][14]
In March 2003, Broadcom acquired the assets of the company for $5.3 million.[15][16]