Why Nimble Storage Chose the NYSE for Its IPO

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Dec. 13 (Bloomberg) –- Nimble Storage CEO Suresh Vasudevan discusses his company’s decision to go public and the future of flash storage. He speaks with Adam Johnson and Alix Steel on Bloomberg Television's "Street Smart." (Source: Bloomberg)

It is making its way into enterprise servers.

Good luck cooking that on your keychain.

Nimble storage just had an ipo this morning.

They closed at $33. we are joined by the ceo.

Suresh, congratulations.

Thank you very much.

Our decision to go public was based on two goals we had.

The first one was as we think about the opportunities in the market, we want to invest in those resources and in financial expansion to go after that opportunity.

Gaining liquidity and capital was one goal.

He fundamentally believe that we can survive as an independent public company in the long term.

There've been a couple of other competitors of yours.

They have had ipos as well.

They have traded down from their ipos and you traded up significantly.

What do you think makes your company different?

There are a couple of very major differences in the way that we approach the problem.

We have figured out a way of combining flash memory with low- cost his drives -- disk drives to go after a part of the market that involves midrange systems.

There are tens of thousands of potential customers.

The second thing that is different about us, we are a commodity hardware combined with very delicate software.

Our structure is higher than other companies that may be more hardware-centric.

Those two factors have convinced investors of the potential in us.

Why did you choose to go public on the new york stock exchange instead of the nasdaq?

One of the key factors, there were a couple of key factors.

One was simply the brand recognition of the nyse along with its momentum.

Another one was more along the profits of the team that we worked with, and they were very helpful in guiding us along the way.

When you think about your business, storage, and there is so much need for it now.

Where are we in the buildup process to make that happen?

Or perspective, if you go back far enough, there were not enough credible lines -- cable lines to send cable tv into homes.

And with all that we had to build cell towers to get signals.

Where are we in the process of building storage for all this information?

The one thing that has always been true of storage is an insatiable demand of accumulating data and building up storage.

Whether it is large operations or midsize operations or cloud services, i do not see in and to the pace at which we accumulate data.

That bodes well for our industry.

If you are making a lot of money at nimble.

When are you going to be profitable?

One of the things you will notice if you look at the trend in our profitability over time is that we have revenue very quickly.

We are making losses, but our revenue growth have been ahead of our operating costs.

Our operating losses have diminishing.

Our revenue is increasing.

We expect that trend to continue.

We plan to drive growth and we

This text has been automatically generated. It may not be 100% accurate.


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