Gadzoox Networks, Inc. produced hardware and software for the entry-level

storage area network A storage area network (SAN) or storage network is a computer network which provides access to consolidated, block-level data storage. SANs are primarily used to access data storage devices, such as disk arrays and tape libraries from ser ...

market. In 2000, at the peak of the

dot-com bubble The dot-com bubble (dot-com boom, tech bubble, or the Internet bubble) was a stock market bubble in the late 1990s, a period of massive growth in the use and adoption of the Internet. Between 1995 and its peak in March 2000, the Nasdaq Compo ...

, the company was valued at $2 billion; however, after filing bankruptcy in 2002, its assets were acquired by

Broadcom Broadcom Inc. is an American designer, developer, manufacturer and global supplier of a wide range of semiconductor and infrastructure software products. Broadcom's product offerings serve the data center, networking, software, broadband, wirel ...

in 2003 for $5.8 million.

History

The company was founded in 1996. In March 2000, the company acquired SmartSAN for $23.5 million. In June 2000, the company launched Axxess. In July 2000, during the

, the company became a

public company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( ...

via an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

. 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. 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. In January 2002, the company raised $8.9 million in funding. In August 2002, the company filed bankruptcy. In March 2003,

acquired the assets of the company for $5.3 million.

References

{{Dot-com Bubble 1996 establishments in California 2003 disestablishments in California 2000 initial public offerings 2003 mergers and acquisitions American companies established in 1996 American companies disestablished in 2003 Broadcom Companies that filed for Chapter 11 bankruptcy in 2002 Computer companies established in 1996 Computer companies disestablished in 2003 Defunct computer companies of the United States Defunct computer hardware companies Dot-com bubble