Last week, Tintri Inc. announced that it has filed its S-1 form with the U.S. Securities and Exchange Commission (SEC) in the first step of going public. Tintri will be traded on the NASDAQ Global Select Market under the ticker symbol “TNTR.” A specific time frame isn’t available yet.
Last week, Tintri Inc. announced that it has filed its S-1 form with the U.S. Securities and Exchange Commission (SEC) in the first step of going public. Tintri will be traded on the NASDAQ Global Select Market under the ticker symbol “TNTR.” A specific time frame isn’t available yet.
Founded in 2008 by Kieran Harty (formally of VMware), Tintri focuses on VM-aware storage built specifically for virtualized applications. The trend of virtualization seems as though it would be beneficial to Tintri as virtualized workloads have grown from roughly 2% in 2005 to over 80% today. Tintri also enables users to set their QoS for individual VMs, vDisks, and containers. This QoS allows allocation of both minimum and maximum performance to the above-mentioned resources. Tintri has also ben able to raise $260 million in funding since its founding.
The IPO Tintri is looking for seems to be $100 million. While this number seems a bit modest compared to other Tech IPOs, Tintri has been seeing net losses over the last three years, to the tune of $276 million versus net revenue of $260.9 million in the same time frame. This may cause some hesitancy for investment, but Tintri believes that it is positioning itself to compete well with other companies such as Dell EMC, NetApp, HDS, IBM, Nutanix, and others.
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