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Networking - Thursday, June 7, 2007

Infinera Storms Out of IPO Gate

infinera logo.png
What an IPO for Sunnyvale-based Infinera. The stock is up nearly 40% as of this posting. The company sells digital optical networking systems and raised $128M in its IPO. Infinera priced 14M common shares at $13 per share, above the $10-$12 range), which gave it a market cap of approximately $1B at the start of the day but is now well above that.

Infinera is trading on the Nasdaq under the ticker symbol INFN, with Goldman Sachs as the lead underwriter. It had raised over $336M in total VC funding since 2000.

Major shareholders & Their Pre-IPO stake
Advanced Equities 9.3% pre-IPO
Kleiner Perkins 9.3%
Mobius Venture Capital 7.8%

For 2006, Infinera said its net loss increased to $89.1M from $64.6M in the previous year, while revenue increased to $58.7M from $4.1M.

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