Tintri
From Wikipedia, the free encyclopedia
 | |
| Industry | |
|---|---|
| Founded | 2008 |
| Headquarters | , |
Area served | Worldwide |
Key people | Phil Trickovic (SVP) Brock Mowry (CTO) |
| Products | Enterprise Cloud, Workload-aware storage |
| Parent | DataDirect Networks |
| Website | www |
Tintri, Inc. is a division of DataDirect Networks based in Santa Clara, California. Tintri provides products designed for businesses cloud computing, virtual machines (VMs), and containerization. The core product line is the VMstore, a storage system and software designed to simplify management in data center and cloud environments.[1][2][3]
After becoming a public company in 2017, within a year it ran out of cash and was acquired in bankruptcy.[4]
Tintri was founded in 2007 by Kieran Harty, who had led development at VMware as their executive vice president of engineering from 1999 to 2006. A native of Ireland, Harty had graduate degrees from Trinity College, Dublin and Stanford University.[5] Its initial objective was solving the mismatch between conventional storage and the demands of applications in virtual machine (VM) environments, which causes complex configuration and management as well as over-provisioning.[6] Over time, Tintri addressed cloud needs of enterprise customers.[7] Tintri is derived from "tintreach", the word for "lightning" in the Irish language.[8]
Early investors included David Cheriton (Harty's Ph.D. adviser)[9] and venture capital from New Enterprise Associates and Lightspeed Venture Partners. The first two rounds raised about $17 million before being disclosed in 2011.[10][11] Another round of about $25 million was disclosed in July, 2012, with Menlo Ventures as additional investor.[12][13] Pete Sonsini, (son of Silicon Valley attorney Larry Sonsini) was an early board member.[14] In October 2013, Ken Klein, a Tintri board member and former president of Wind River Systems, became chairman and chief executive.[15] Ian Halifax, also from Wind River, was named chief financial officer in January 2014.[16]
A round of $75 million investment in February 2014 was led by Insight Venture Partners.[17] In August 2015, a $125 million investment round was led by Silver Lake Kraftwerk joined by previous investors.[18] In October, 2016, Charles Giancarlo (from Silver Lake) joined the board of directors.[19]
On June 1, 2017, Tintri filed with the SEC for an initial public offering (IPO).[20] The IPO was delayed and then re-priced below the original range.[21] On June 30, 2017, its shares began trading on NASDAQ under the symbol TNTR.[4] In December 2017 it was reported that despite the IPO, the company was looking for a buyer.[22][23] In March, 2018, CEO Ken Klein was replaced by Thomas Barton.[24]
On June 22, 2018, after failing to find a buyer and resignation of Barton as CEO, Tintri's board of directors approved a reduction in force of approximately 200 employees. The company expected to have between 40 and 50 employees left as it ran out of cash.[25] On July 9, 2018, Tintri was delisted from NASDAQ as a result of failure to satisfy the listing requirements.[26]
On July 10, 2018, Tintri filed for Chapter 11 Bankruptcy. DataDirect Networks (DDN) agreed to acquire substantially all of the assets of Tintri.[27] On September 4, 2018, DDN announced it had acquired Tintri for $60 million.[28]
