Gadzoox

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Gadzoox Networks, Inc.
Founded1996; 26 years ago (1996)
Defunct2003; 19 years ago (2003)
FateBankruptcy; acquired by Broadcom
HeadquartersSan Jose, California

Gadzoox Networks, Inc. produced hardware and software for the entry-level storage area network market. 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.

History[edit]

The company was founded in 1996.[1]

In March 2000, the company acquired SmartSAN for $23.5 million.[2]

In June 2000, the company launched Axxess.[3]

In July 2000, during the dot-com bubble, the company became a public company via an initial public offering. Shares were priced at $21 each but soared as high as $87 each on the first day of trading, giving the company a market capitalization of $1.97 billion.[4]

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.[5]

In January 2002, the company raised $8.9 million in funding.[6]

In August 2002, the company filed bankruptcy.[7]

In March 2003, Broadcom acquired the assets of the company for $5.3 million.[8]

References[edit]

  1. ^ Roberts, Paul F. (March 3, 2003). "Broadcom buys Gadzoox assets for $5.8 million". International Data Group.
  2. ^ SHANKLAND, STEPHEN. "Short Take: Gadzoox beefs up storage power". CNET.
  3. ^ Connor, Deni (June 12, 2000). "Gadzoox launches storage pooling devices". International Data Group.
  4. ^ "GADZOOX SOARS IN IPO". Wired. July 20, 1999.
  5. ^ "Form DEF 14A Gadzoox Networks Inc DEF 14A - Other definitive proxy statements". U.S. Securities and Exchange Commission. September 5, 2000.
  6. ^ SHANKLAND, STEPHEN (January 24, 2002). "Gadzoox raises $8.9 million". CNET.
  7. ^ "GADZOOX NETWORKS FILES FOR BANKRUPTCY PROTECTION". The New York Times. Dow Jones & Company. August 24, 2002.
  8. ^ "Broadcom acquires Gadzoox assets". American City Business Journals. March 3, 2003.