| Gadzoox Networks, Inc. | |
| Fate: | Bankruptcy
|
| Location: | San Jose, California |
Gadzoox Networks, Inc. produced hardware and software for the entry-level storage area network market. In 2000, at the peak of the dot-com bubble, the company was valued at $2 billion; however, after filing bankruptcy in 2002, its assets were acquired by Broadcom in 2003 for $5.8 million.
The company was founded in 1996.[1]
In March 2000, the company acquired SmartSAN for $23.5 million.[2]
In June 2000, the company launched Axxess.[3]
In July 2000, during the dot-com bubble, the company became a public company via an initial public offering. 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.[4]
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.[5]
In January 2002, the company raised $8.9 million in funding.[6]
In August 2002, the company filed bankruptcy.[7]
In March 2003, Broadcom acquired the assets of the company for $5.3 million.[8]