Ocarina Networks lands $20M for content compression
Ocarina Networks, maker of software that compresses content to reduce online storage demands, announced today that it has brought in $20 million in a second round of funding to beef up its sales force, refine its technology and forge more partnerships with storage providers like Hewlett-Packard and BlueArc.
The San Jose, Calif. company claims its technology can compress data by up to 90 percent. Essentially, it can shrink 10 terabytes of data to between 1 and… Continue Reading
Storage provider BlueArc withdraws IPO filing
BlueArc, a San Jose, Calif.-based provider of network storage systems, pulled its plans to go public yesterday, citing (of course) unfavorable market conditions. This makes it the 38th venture-backed company (and 86th company overall) to do so in 2008, reports VentureWire.
The IPO –expected to bring in $103.5 million for further research and development — had been in the hopper since last September. The offering’s underwriters included Credit Suisse Securities, Lehman Brothers, RBC Capital Markets, Thomas… Continue Reading
BlueArc, joins money-losing network storage companies hoping for IPO
BlueArc Corp., a San Jose, Calif., maker of network storage systems, has filed an initial public offering to raise up to $103.5 million .
This is just the latest Silicon Valley network storage company to try to go public while still in the red. The company has worked away for eight years, but still lost a net $2.5 million in the three months ending April 30, down from $3.9 million for the same period a year… Continue Reading