Comments on: OnStor & the resurrection of the storage companies http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/ News About Tech, Money and Innovation Wed, 25 Nov 2009 09:59:47 +0000 http://wordpress.org/?v=2.8.5 hourly 1 By: Sammy Wu http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/comment-page-1/#comment-799545 Sammy Wu Thu, 20 Mar 2008 09:40:46 +0000 http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/#comment-799545 The product is crap, the system crashed on a monthly basis and even lost data several times. This was the worse decision I have ever made in my career The product is crap, the system crashed on a monthly basis and even lost data several times. This was the worse decision I have ever made in my career

]]> By: Garage Door Replacement http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/comment-page-1/#comment-798963 Garage Door Replacement Sun, 16 Mar 2008 15:04:29 +0000 http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/#comment-798963 <strong>Garage Door Replacement...</strong> Deported for Skipping School: Pro- Migrant Round- Up was the previous entry in this blog.... Garage Door Replacement…

Deported for Skipping School: Pro- Migrant Round- Up was the previous entry in this blog….

]]> By: Run Rate http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/comment-page-1/#comment-575122 Run Rate Fri, 12 Oct 2007 02:41:35 +0000 http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/#comment-575122 Glad to see someone is staying on top of things. Glad to see someone is staying on top of things.

]]> By: VentureBeat » 3Par, the latest money-losing storage company, files for IPO http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/comment-page-1/#comment-439350 VentureBeat » 3Par, the latest money-losing storage company, files for IPO Wed, 15 Aug 2007 17:52:55 +0000 http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/#comment-439350 [...] a Campbell, Calif. company offering data storage for large companies, is preparing to go public, after a rocky ride. Isilion Systems went public a while ago, and is losing more money than expected. Data Domain went [...] [...] a Campbell, Calif. company offering data storage for large companies, is preparing to go public, after a rocky ride. Isilion Systems went public a while ago, and is losing more money than expected. Data Domain went [...]

]]> By: Matt Marshall http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/comment-page-1/#comment-431328 Matt Marshall Tue, 14 Aug 2007 21:42:24 +0000 http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/#comment-431328 Folks, I'm told that the comments by MJohnson above do not come from Matt Johnson, the former VP of Engineering at OnStor. We're told by one of OnStor's investors that Johnson has reached out to each of the OnStor investors to clarify this fact. One of the investors requested we remove the comment. Rather than do that, I've decided to post this notice. Would have been great to hear from Matt himself, so that it would remove all doubt. He's obviously decided to keep a low profile. Folks,

I’m told that the comments by MJohnson above do not come from Matt Johnson, the former VP of Engineering at OnStor. We’re told by one of OnStor’s investors that Johnson has reached out to each of the OnStor investors to clarify this fact. One of the investors requested we remove the comment. Rather than do that, I’ve decided to post this notice. Would have been great to hear from Matt himself, so that it would remove all doubt. He’s obviously decided to keep a low profile.

]]> By: GBal http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/comment-page-1/#comment-392442 GBal Fri, 03 Aug 2007 07:53:39 +0000 http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/#comment-392442 It is true that a number of storage companies got funded since 2000, but it is also important to realise that there are a number of differences amongst these companies. Classifying all these companies as storage, is is like calling company that has got anything remotely connected with computers as a player in the "technology" industry. This is nothing but baseless journalism at its best without understanding the market. It is true that a number of storage companies got funded since 2000, but it is also important to realise that there are a number of differences amongst these companies. Classifying all these companies as storage, is is like calling company that has got anything remotely connected with computers as a player in the “technology” industry. This is nothing but baseless journalism at its best without understanding the market.

]]> By: MJohnson http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/comment-page-1/#comment-391354 MJohnson Thu, 02 Aug 2007 16:08:10 +0000 http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/#comment-391354 I worked at OnStor and left a few years ago due to lack of revenue momentum, product vision, and poor leadership. The low quality of the investors concerned me very much. OnStor common shareholders believe this talk of an IPO over the next year and the "mezzanine" round is meant to prod an interested acquirer into acquiring OnStor and providing relief to the investors (and CEO). OnStor is under pressure from Worldview and ComVentures, thesmelves under pressure to wind up their poor performing funds and close shop. I worked at OnStor and left a few years ago due to lack of revenue momentum, product vision, and poor leadership. The low quality of the investors concerned me very much.

OnStor common shareholders believe this talk of an IPO over the next year and the “mezzanine” round is meant to prod an interested acquirer into acquiring OnStor and providing relief to the investors (and CEO). OnStor is under pressure from Worldview and ComVentures, thesmelves under pressure to wind up their poor performing funds and close shop.

]]> By: OneStoryOnStor http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/comment-page-1/#comment-391336 OneStoryOnStor Thu, 02 Aug 2007 15:56:06 +0000 http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/#comment-391336 Oops. Errata in my last posting. $4M times four is $16M (rev run rate for ONeSTORy) Oops. Errata in my last posting. $4M times four is $16M (rev run rate for ONeSTORy)

]]> By: OneStoryOnStor http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/comment-page-1/#comment-391333 OneStoryOnStor Thu, 02 Aug 2007 15:53:40 +0000 http://venturebeat.com/2007/08/02/onstor-the-resurrection-of-the-storage-companies/#comment-391333 Matt, OnStor has taken in $100M already. After that it now claims a revenue run-rate of $12M per year ($4M--their best quarter so far--times four). Add their previous years revenues together and it's likely they won't exceed $25M. If they grow 100% the next four quarters--and that's a stretch--they do $25M. How's that sufficient for an IPO? Time to dismiss the spin from their CEO (put out to prompt acquisition fever) prompted by their investors eager to recoup their investment. Unless it's a bubble market I see the most likely exit for them an acquisition where the investors likley get 50-75 cents on their dollar and the employees get washed out (except for the CEO who has a carve-out). Remember, Worldview and ComVentures are in this deal together and readers of your blog know well the reputation of those firms and the partners and their track records Matt, OnStor has taken in $100M already.
After that it now claims a revenue run-rate of $12M per year ($4M–their best quarter so far–times four). Add their previous years revenues together and it’s likely they won’t exceed $25M.
If they grow 100% the next four quarters–and that’s a stretch–they do $25M.
How’s that sufficient for an IPO? Time to dismiss the spin from their CEO (put out to prompt acquisition fever) prompted by their investors eager to recoup their investment.

Unless it’s a bubble market I see the most likely exit for them an acquisition where the investors likley get 50-75 cents on their dollar and the employees get washed out (except for the CEO who has a carve-out). Remember, Worldview and ComVentures are in this deal together and readers of your blog know well the reputation of those firms and the partners and their track records

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