Fusion-io IPO Distracts from Social Media Bubble Froth
Amidst stocks decline and long economic slumps, Fusion-io’s strong IPO opening is the most notable deal in the tech community throughout a seemingly tough week. The Salt-Lake City-based company debuted its IPO Thursday morning, making a resounding impact and wowing Wall Street as the shares flickered: Fusion-io shared first traded for $25.30 and closing at $22.50—higher than its initial offering of $19. Fusion-io hopes to gain $185 million through listing in New York Stock Exchange or NYSE. They are also targeting the $1 billion dollar mark via Flash Memory IPO.
IPOFinancial.com President David Menlow briefly analyzed the public demand saying, “This is a technology story that is making sense to people and there is also demand (based on) the fundamentals.”
Prior to entering the IPO gates, Fusion-io had already caught the public’s eye via ground-breaking product releases and service updates. Although experts believed that the organization is not yet ripe for picking, social networking pillar Facebook becomes a high profile data-center client, helping to validate Fusion-io’s star-studded brand. To date, Facebook is the biggest business under Fusion-io’s portfolio. It also went after the cloud industry and launched a high speed solution that fuses its ioMemory technology with JMR’s BlueStor™ 16 Bay PCIe Extender. The same ioMemory technology was tapped by Dell and injected onto their storage offering. A Wall Street Journal report recently mentioned the preparation that Fusion-io made before going public and discussed NAND flash memory.
While all other IT giants like Google, RIM and Cisco retreated in the stock market, Fusion-io held it together and sparked a relatively remarkable IPO entry. This could be an indication of growing interests in flash memory solutions, which is the primary product of Fusion-io. Whether the company will withstand other financial turmoil or join those who slipped, the timing of an IPO is inevitably one of the most important factors for entering this market. Fusion-io is premier data storage specialist and hardware and software systems innovator. Hopefully that innovation will translate into continued success for Fusion-io on Wall Street as well.
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