VMware readying for biggest tech IPO since Google

August 10, 2007 | Matt Marshall
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vmware.jpgVMware, the Palo Alto, Calif maker of virtualization software, is enjoying its 15 minutes of hyped IPO fame.

The company has been a leader in the move toward virtualization, which allows companies to run multiple operating systems on a single machine, and investors are eager to partake of its IPO. It raised the target price for its IPO yesterday, and shares are supposed to start trading Tuesday.

The company, owned by storage company EMC, hopes to raise as much as $1.1 billion, more than any technology company since Google went public in 2004. Mercury News story here.

VMware hiked the estimated price for its shares to $27 to $29 a share, or 17 percent more than its previous range of $23 to $25.

As reported earlier, both Cisco and Intel have invested in this company.

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About the Author,

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.

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