Gadzoox

Gadzoox Networks, Inc. produced hardware and software for the entry-level storage area network market. In 2000, at the peak of the dot-com bubble, the company was valued at $2 billion; however, after filing bankruptcy in 2002, its assets were acquired by Broadcom in 2003 for $5.8 million.

This article is about the storage area network company. For the defunct retailer or the television show, see Gadzooks (disambiguation).
Gadzoox Networks, Inc.
FateBankruptcy; acquired by Broadcom
Founded1996 (1996)
Defunct2003 (2003)
HeadquartersSan Jose, California

History

The company was founded in 1996.[1]

In March 2000, the company acquired SmartSAN for $23.5 million.[2]

In June 2000, the company launched Axxess.[3]

In July 2000, during the dot-com bubble, the company became a public company via an initial public offering. Shares were priced at $21 each but soared as high as $87 each on the first day of trading, giving the company a market capitalization of $1.97 billion.[4]

In August 2000, Bill Sickler, the CEO of the company, and Christine E. Munson, the CFO of the company, resigned after announcing a financial restatement.[5]

In January 2002, the company raised $8.9 million in funding.[6]

In August 2002, the company filed bankruptcy.[7]

In March 2003, Broadcom acquired the assets of the company for $5.3 million.[8]

References
  1. Roberts, Paul F. (March 3, 2003). "Broadcom buys Gadzoox assets for $5.8 million". International Data Group.
  2. SHANKLAND, STEPHEN. "Short Take: Gadzoox beefs up storage power". CNET.
  3. Connor, Deni (June 12, 2000). "Gadzoox launches storage pooling devices". International Data Group.
  4. "GADZOOX SOARS IN IPO". Wired. July 20, 1999.
  5. "Form DEF 14A Gadzoox Networks Inc DEF 14A - Other definitive proxy statements". U.S. Securities and Exchange Commission. September 5, 2000.
  6. SHANKLAND, STEPHEN (January 24, 2002). "Gadzoox raises $8.9 million". CNET.
  7. "GADZOOX NETWORKS FILES FOR BANKRUPTCY PROTECTION". The New York Times. Dow Jones & Company. August 24, 2002.
  8. "Broadcom acquires Gadzoox assets". American City Business Journals. March 3, 2003.
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