Gadzoox
{{about|the storage area network company||Gadzooks (disambiguation)}}
{{Infobox company
| logo = File:Gadzoox logo.svg
| name = Gadzoox Networks, Inc.
| fate = Bankruptcy; acquired by Broadcom
| foundation = {{start date and age|1996}}
| defunct = {{end date and age|2003}}
| 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.
History
The company was founded in 1996.{{cite news | url=https://www.networkworld.com/article/2340442/broadcom-buys-gadzoox-assets-for--5-8-million.html | title=Broadcom buys Gadzoox assets for $5.8 million | first=Paul F. | last=Roberts | work=International Data Group | date=March 3, 2003}}
In March 2000, the company acquired SmartSAN for $23.5 million.{{cite news | url=https://www.cnet.com/news/short-take-gadzoox-beefs-up-storage-power/ | title=Short Take: Gadzoox beefs up storage power | first=STEPHEN | last=SHANKLAND | work=CNET}}
In June 2000, the company launched Axxess.{{cite news | url=https://books.google.com/books?id=WBsEAAAAMBAJ&pg=PA26 | title=Gadzoox launches storage pooling devices | first=Deni | last=Connor | work=International Data Group | date=June 12, 2000}}
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.{{cite magazine | url=https://www.wired.com/1999/07/gadzoox-soars-in-ipo/ | title=GADZOOX SOARS IN IPO | magazine=Wired | date=July 20, 1999}}
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.{{cite web | url=https://sec.report/Document/0000891618-00-004519/ | title=Form DEF 14A Gadzoox Networks Inc DEF 14A - Other definitive proxy statements | publisher=U.S. Securities and Exchange Commission | date=September 5, 2000}}
In January 2002, the company raised $8.9 million in funding.{{cite news | url=https://www.cnet.com/news/gadzoox-raises-8-9-million/ | title=Gadzoox raises $8.9 million | first=STEPHEN | last=SHANKLAND | work=CNET | date=January 24, 2002}}
In August 2002, the company filed bankruptcy.{{cite news | url=https://www.nytimes.com/2002/08/24/business/company-news-gadzoox-networks-files-for-bankruptcy-protection.html | title=GADZOOX NETWORKS FILES FOR BANKRUPTCY PROTECTION | agency=Dow Jones & Company | work=The New York Times | date=August 24, 2002 | url-access=subscription}}
In March 2003, Broadcom acquired the assets of the company for $5.3 million.{{cite news | url=https://www.bizjournals.com/sanjose/stories/2003/03/03/daily1.html | title=Broadcom acquires Gadzoox assets | work=American City Business Journals | date=March 3, 2003}}
References
{{Reflist|1}}
{{Dot-com Bubble}}
Category:1996 establishments in California
Category:2003 disestablishments in California
Category:2000 initial public offerings
Category:2003 mergers and acquisitions
Category:American companies established in 1996
Category:American companies disestablished in 2003
Category:Companies that filed for Chapter 11 bankruptcy in 2002
Category:Computer companies established in 1996
Category:Computer companies disestablished in 2003
Category:Defunct computer companies of the United States