Friday, December 13, 2013

Nimble Storage Rockets Ahead in IPO

On their first day of trading, shares in Nimble Storage  (NYSE: NMBL) rocketed up 62% from the initial price of $21 to close at $33.93, or $168 million for the company.

The company raised $168 million by selling 8 million shares.

  • Nimble, which is based in San Jose, California, supplies flash-optimized hybrid storage solutions. The company is headed by Suresh Vasuden, who previously servedd as CEO of Omneon (acquired by Harmonic), and as a senior executive at NetApp for over 10 years where he led the company's product strategy and development.