Enterprise Software - Thursday, April 26, 2007
EMC Virtualization Spinout VMWare Files $100M IPO
EMC plans to sell 10% of VMware in a $100M+ IPO. The filing shows that VMware is raging full on. Revenue jumped from $115M in the December quarter of 2005 to $227M in the December quarter of 2006. VMware produced a $31M profit in the 2006 quarter as compared to a $28M profit in the same period the previous year. VMware R&D costs rose from $10M to $50M, while sales and marketing costs rose from $40M to $81M.
Ahead of the IPO, VMware's president and CEO Diane Greene is making out well. She earned $6.4M in total compensation last year, according to the filing. Also making out like a bandit is Google seed investor and Sun founder Sun co-founder Andy Bechtolsheim who was an early investor in VMware.
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