Storage - Friday, March 23, 2007
$100M IPO For Data Warehousing's Netezza
Dreary Framingham MA's Netezza has filed for a $100M IPO. Netezza will trade on the Nasdaq under ticker symbol NTZA, with Credit Suisse and Morgan Stanley as co-lead underwriters. This is the 2nd IPO for CEO Jit Saxena, who was founder, chairman and CEO of CRM's Applix, which he took public in 1994. Interestingly, Motorola's Ed Zander is on the board, but we imagine he is too busy too notice the IPO.
Netezza has raised around $83M in VC funding. Revenues have increased from $13.6M in fiscal 2004 to $79.6M in fiscal 2007. 2007 revenues are broken down as $64.6M in product sales and $14.989M in services. The net loss is $13.9M for fiscal 2007.
VC firm Pre-IPO holding
Matrix Partners 20.75%
Charles River Ventures 19.59%
Battery Ventures 16.82%
Sequoia Capital 15.2%
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