Nimble Storage Files for IPO

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Rather than reading the 183 pages of the document published by Nimble Storage for its filing submission for an IPO, here are the most significant facts and figures. Headquartered in San Jose, CA, the company, incorporated in 2007, shipped its first products in August 2010. It has also now offices in Durham, NC, North Sidney, Australia, Hamburg, Germany, London and Windsor, UK. Frédéric Saldes started the business of Nimble Storage in France this year. The designer of a storage, backup and DR in all-in-one device with SSDs and HDDs with inline variable-block compression, cloning, and integrated snapshots, got a total of $98.7 million in financial funding, including $16 million in 2010, $25 million in 2011 and $40.7 million in 2012 from investors including Accel Partners, Lightspeed Venture Partners and Sequoia Capital. Cumulative customers since July 2011 reached 1,750 cloud-based service providers, education, financial services, healthcare, manufacturing, state and local government and technology. Systems are sold worldwide by a network of 600 VARS that accounted for 82% and 89% of total revenue in the years ended January 31, 2012 and 2013. For the same two periods, top ten channel partners accounted for 43% and 37% of total revenue, respectively. In particular, Advanced Media Services, which buys the products for resale by CDW Corporation, accounted for more than 10% of revenue in the year ended January 31, 2013 and the six months ended July 31, 2013. The start-up totally outsources the manufacturing to third-party manufacturers (Flextronics and Synnex.) From January 31, 2011 to July 31, 2013, headcount increased from 47 to 464 employees, including 242 in sales and marketing, 13 in operations, 137 in R&D, 33 in support and 39 in general and administrative roles. Fiscal results in $ million
Year ended January 31