Nimble Storage Surges in Market Debut as Flash Rivals Plummet
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Nimble Storage Inc. soared in its stock market debut yesterday, validating Chief Executive Officer Suresh Vasudevan’s decision to go public even as shares of flash-storage makers Violin Memory Inc. and Fusion-io Inc. plummet.
Nimble’s flash technology is used to bolster data-center storage, providing more speed and capacity while keeping prices down. Revenue more than doubled in the third quarter to $33.4 million, with the number of customers climbing to 2,100, up from 270 in early 2012.