JimDawsonMenlo.low res

Former Fusion-io sales exec joins Menlo as venture partner

Menlo Ventures announced on its blog this morning that it has hired Jim Dawson, former chief sales officer of Fusion-io, as venture partner. At Menlo, Dawson will look focus on storage and infrastructure. Dawson joined Fusion-io in 2009 and left in late 2013, according to his LinkedIn profile. Before Fusion-io, he was with 3PAR and Scale8 before that.

VC-backed Contour Semiconductor hires new CEO

Massachusetts-based memory chips provider Contour Semiconductor has named Saul Zales as CEO. Zales is the former executive vice president of corporate development at Fusion-io. Contour Semiconductor’s backers include American Capital, Fairhaven Capital Partners, Still River Funds and Eastward Capital Partners.

Fusion-io Buys NexGen Storage for About $119 Mln

Fusion-io has acquired NexGen Storage for about $119 million, including $114 million cash and approximately $5 million in stock. Louisville, Colo.-based NexGen develops hybrid storage appliances. NexGen’s investors include Grotech Ventures, Access Venture Partners and Next World Capital.

Fusion-io Files $350 Mln Follow-On

Fusion-io on Wednesday filed with the SEC to raise as much as $350 million via a stock offering. Fusion-io itself plans to sell about $100 million while the rest will come from selling stockholders. Goldman Sachs and Morgan Stanley are joing bookrunners on the deal. New Enterprise Associates own about 31% of the company, according to an SEC filing.

Lightspeed Begins Raising New Fund, Considers Chinese Spinoff, Sources Say

Lightspeed Venture Partners has begun raising a new fund that could match its existing $800 million vintage 2008 fund in size, according to three industry sources. Along with its new fund, the Silicon Valley firm is considering spinning off its Chinese operations, two of the sources say. Lightspeed partners have been meeting with existing investors […]

Slideshow: 75% of VC-Backed IPOs Rebound in Broad Market Upturn

A day after getting beaten down with the rest of the market, three-fourths of this year’s VC-backed IPOs posted gains in today’s market rebound.

Of the 38 VC-backed companies that have gone public on U.S. exchanges this year, 28 saw their share prices increase today, while nine experienced declines and one remained flat, according to data from Thomson Reuters (publisher of peHUB). That stands in stark contrast to yesterday, when 36 of the stocks lost value and two remained flat.

The biggest gainers in terms of dollars were LinkedIn (NYSE: LNKD), which shot up

Slideshow: How This Year’s 10 Biggest VC-Backed IPOs Fared In The Market Plunge

As you are well aware by now, the stock market plunged today on fears that the U.S. economy is slipping back into a recession and concerns about a debt crisis in Europe.

It was the biggest selloff in two years, with the Dow and the S&P 500 both declining by more than 4% and the Nasdaq falling by 5 percent.

I was curious how this year’s crop of VC-backed companies fared in the correction, so I took a look at the performance of 2011′s 10 largest IPOs of U.S.-based VC-backed companies. Given that I was expecting to find a bloodbath, I

Analysis: Enterprise Flash Storage Industry Set for Consolidation

(Reuters) – Competition is brewing in the small but booming market for flash memory used in corporate data centers, and analysts foresee a wave of consolidation as larger players move in. Giant tech companies from International Business Machines Corp to Western Digital Corp are sharpening their focus on lightning-quick flash storage, hoping to ride a […]

VCJ Report: Big Money in Data Bottlenecks

Reading about the latest growth in digital data traffic and storage capacity is an easy way to make the head spin. Last year, for the first time, digital data creation surpassed one zettabyte—the equivalent of 1,000,000,000,000,000,000,000 individual bytes, according to research firm IDC. That’s a more than five-fold increase from the levels of just four […]

Pandora IPO to Price Later Today, Offering Generating Huge Demand–UPDATED

Pandora is expected to price its IPO later today.

Oakland, Calif.-based Pandora, which provides a Web radio service, will likely begin trading Wednesday on the NYSE, and is expected to trade under the symbol “P,” an unexpected move because only market bellwethers tend to use single-letter ticker symbols.

John Fitzgibbon, publisher of IPO Scoop.com, says Pandora is generating huge demand, despite the fact that so many have condemned the company. The deal is 10 times oversubscribed, he says…

It Can Float Now… But Will it Fly Later?

Internet companies are pushing smaller portions of their equity onto public markets at a volatile time and still seeing stock values increase almost instantaneously. For now, the practice is helping tack bigger price tags onto VCs’ assets, but if and when a major market disruption occurs, these newly-listed darlings may later see secondary offering attempts flounder.

Low-float IPOs are all the rage right now….

Fusion-io Soars in Debut; Combined Shares Held by NEA and Lightspeed Worth More than $780M — UPDATED

(Reuters) – Shares of Fusion-io Inc. (NYSE: FIO), which makes storage memory hardware and software for data centers, soared 34 percent in their market debut, as the rush to snap up technology startups showed no signs of waning.

Fusion-io’s shares sold for an IPO price of $19 apiece, but Thursday’s opening price of $25 a share values the company at about $1.95 billion. The company had originally planned to sell shares in the $16-$18 range.

UPDATE: The company’s shares ended the day at $22.50, up 18% from their IPO price. As of 2:43 p.m. EST, the company’s shares were trading for $22.89 each.

New Enterprise Associates (NEA) and Lightspeed Venture Partners are Fusion-io’s largest shareholders, according to the company’s most recent S-1 filing. NEA’s 25.93 million shares are worth more than $593 $583 million at $22.89 $22.50 per share, while Lightspeed’s 8.82 million shares are worth more than $201 $198 million. (Note: Updated with closing share price.)

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