Geeknet#SourceForge and OSDN

{{Infobox company

| name = Geeknet, Inc.

| logo = 150px

| type = Subsidiary

| former_names = VA Research (1993–1999)
VA Linux Systems
(1999–2001)
VA Software (2001–2007)
SourceForge (2007–2009)

| foundation = {{start date and age|1993|11}}

| founder = Larry Augustin & James Vera (VA Research)

| location_city = Fairfax County, Virginia

| key_people = Kathryn McCarthy (CEO)

| industry = Online media
Retail

| parent = GameStop (2015–present)

}}

Geeknet, Inc. is an American company that is a subsidiary of GameStop based in Fairfax County, Virginia.{{cite press release | url=https://www.businesswire.com/news/home/20150717005087/en/GameStop-Completes-Acquisition-Geeknet | title=GameStop Completes Acquisition of Geeknet | publisher=Business Wire | date=July 17, 2015}} The company was formerly known as VA Research, VA Linux Systems, VA Software, and SourceForge, Inc.{{cite press release | url=https://www.intel.com/pressroom/archive/releases/1999/cn030299.htm | title=VA Research To Port Linux To Intel's IA-64 Architecture | publisher=Intel | date=March 2, 1999}}

History

=VA Research=

VA Research was founded in November 1993 by Stanford University graduate student Larry Augustin and James Vera. Augustin was a Stanford colleague of Jerry Yang and David Filo, the founders of Yahoo!.{{cite news | url=https://money.cnn.com/magazines/fortune/fortune_archive/1999/07/05/262457/index.htm | title=VA Linux Systems | first=Jodi | last=Mardesich | work=Fortune | date=July 5, 1999}} VA Research started to build and sell personal computer systems installed with the Linux operating system, as an alternative to more expensive Unix workstations that were available at the time.{{cite news | url=https://www.forbes.com/1999/05/03/feat.html | title=Dell plus Sun equals VA Research | first=Om | last=Malik | work=Forbes | date=May 3, 1999}} During its initial years of operation, the business was profitable and grew quickly, with over $100 million in sales and a 10% profit margin in 1998. It was the vendor of pre-installed Linux computers, with approximately 20% of the Linux hardware market.

In October 1998, the company received investments of $5.4 million from Intel and Sequoia Capital.{{cite news | url=https://www.cnet.com/news/va-linux-programs-for-the-future/ | title=VA Linux programs for the future | first=Stephen | last=Shankland | work=CNET | date=August 9, 1999}}

Image:Server Linux.jpg

In March and April 1999, VA Research purchased Enlightenment Solutions, marketing company Electric Lichen L.L.C., and VA's top competitor, Linux Hardware Solutions. That year, VA Research also won a business-plan competition for the right to operate the linux.com domain. In May 1999, VA created a Linux Labs division, hiring former linux.com domain holder and programmer Fred van Kempen, and programmers Jon "maddog" Hall, Geoff "Mandrake" Harrison, Jeremy Allison, Richard Morrell (who would later create Smoothwall as a project at VA Linux) and San "nettwerk" Mehat. In the summer of 1999, programmers Tony Guntharp, Uriah Welcome, Tim Perdue and Drew Streib began designing and developing SourceForge. SourceForge was released to the public at Comdex on November 17, 1999. VA began porting Linux to the new IA-64 processor architecture in earnest. Intel and Sequoia, along with Silicon Graphics and other investors, added an additional $25 million investment in June 1999.

==Initial public offering==

File:LNUX.png

The company's customers included Akamai Technologies and eToys.{{cite news | url=https://www.cnet.com/news/va-linux-files-ipo-plans/ | title=VA Linux files IPO plans | first=Stephen | last=Shankland | work=CNET | date=January 2, 2002}}

The company changed its name to VA Linux Systems. On December 9, 1999, the company became a public company via an initial public offering. The company raised $132 million, offering shares at $30/share, but the shares opened for trading at $299/share, before closing at $239.25/share, or 698% above the IPO price, breaking a record for the largest first day gain.{{Cite news|last=Fisher|first=Lawrence M.|date=1999-12-10|title=A Tiny Company Without Profits Goes Public With a Bang (Published 1999)|language=en-US|work=The New York Times|url=https://www.nytimes.com/1999/12/10/business/a-tiny-company-without-profits-goes-public-with-a-bang.html|access-date=2020-11-11|issn=0362-4331}}{{Cite book|last=Graham, Benjamin, 1894-1976.|url=https://www.worldcat.org/oclc/51942330|title=The intelligent investor : a book of practical counsel|date=2003|publisher=HarperBusiness Essentials|others=Zweig, Jason.|isbn=0-06-055566-1|edition=Revised|location=New York|pages=152|oclc=51942330}}{{cite news | url=https://www.salon.com/1999/12/10/va_linux/ | title=Dissecting the VA Linux IPO | first=Mark | last=Gimen | work=Salon | date=December 10, 1999}}{{cite news | url=https://money.cnn.com/1999/12/09/technology/linux/ | title=VA Linux rockets on debut | work=CNN | date=December 9, 1999}}{{cite news | url=https://www.wsj.com/articles/SB944749135343802895 | title=VA Linux Registers A 698% Price Pop | first1=Terzah | last1=Ewing | first2=Lee | last2=Gomes | first3=Charles | last3=Gasparino | author-link3=Charlie Gasparino | work=The Wall Street Journal | date=December 10, 1999 | url-access=subscription}} Larry Augustin, the 38-year old founder and chief executive officer of the company, became a billionaire on paper and a 26-year old web developer at the company said she was worth $10 million on paper.{{cite news | url=https://www.sfgate.com/business/article/VA-Linux-Easy-Come-Easy-Go-Stock-s-dramatic-2962977.php | title=VA Linux — Easy Come, Easy Go / Stock's dramatic rise and fall leave determined workers unfazed | first=Diana | last=Walsh | work=San Francisco Chronicle | date=January 18, 2001}} By August 2000, the shares were trading at $40 each and only 24 mutual funds held the stock.{{cite news | url=https://www.nytimes.com/2000/08/20/business/investing-why-few-funds-are-lining-up-to-buy-linux.html | title=Investing; Why Few Funds Are Lining Up To Buy Linux | first= DANNY | last=HAKIM | work=The New York Times | date=August 20, 2000}} On December 8, 2000, one year later, after the bursting of the dot com bubble, shares traded at $8.49/share.{{cite news | url=https://www.cnet.com/news/10-years-gone-the-va-linux-systems-ipo/ | title=10 years gone: The VA Linux Systems IPO | author=Walker | work=CNET | date=December 10, 2009}} In January 2001, the stock traded at $7.13/share. By December 2002, it was worth just $1.19/share.

==Acquisition of Andover.net==

On February 3, 2000, the company announced that it was acquiring Andover.net for $800 million, a month after it became a public company.{{cite news | url=https://www.wsj.com/articles/SB949585431371615272 | title=VA Linux Systems Agrees to Buy Andover.net in $900 Million Deal | first=Lee | last=Gomes | work=The Wall Street Journal | date=February 4, 2000 | url-access=subscription}}{{cite news | url=https://www.computerworld.com.au/article/92545/va_linux_buys_andover_net/ | title=VA Linux Buys Andover.Net | first=Douglas F. | last=Gray | work=Computerworld | date=February 4, 2000}}{{cite news | url=https://money.cnn.com/2000/02/03/deals/linux/ | title=VA Linux buying Andover | work=CNN | date=February 3, 2000}} This acquisition gave VA Linux popular online media properties such as Slashdot, Andover News Network, Freshmeat, NewsForge (became a mirror of linux.com in 2007, mirrors geeknet.com since 2010), linux.com, ThinkGeek, and a variety of online software development resources. With this acquisition came a stable of writers such as Rob Malda, Robin Miller (Roblimo), Jack Bryar, Rod Amis, Jon Katz, and "CowboyNeal". The acquisition eventually allowed the company to shift its business model from Linux-based product sales to specialty media and software development support.

==Japanese partnership==

In September 2000, in partnership with Sumitomo Corporation, the company created a Japanese subsidiary, VA Linux Systems Japan KK, to promote Linux systems in Japan.{{cite news | url=https://www.computerworld.com/article/2588477/va-linux-teams-with-its-first-japanese-subsidiary-and-partnerships.html | title=VA Linux teams with its first Japanese subsidiary and partnerships | first=Todd R. | last=Weiss | work=Computerworld | date=September 26, 2000}}{{cite news | url=https://www.cnet.com/au/news/va-linux-trying-to-make-inroads-into-japan/ | title=VA Linux trying to make inroads into Japan | first=Stephen | last=Shankland | work=CNET | date=January 3, 2002}}

==Sales growth==

The company's sales grew to $17.7 million in 1999, up from $5.5 million in fiscal 1998.{{cite news | url=https://www.forbes.com/2000/08/14/mu1.html | title=VA Linux Builds Software To Order | first=Lisa | last=DiCarlo | work=Forbes | date=August 14, 2000}} In fiscal 2000, the company's sales were $120.3 million.{{cite news | url=https://money.cnn.com/2000/08/23/technology/earns_valinux/index.htm | title=VA Linux beats the Street | work=CNN | date=August 23, 2000}}

=VA Software=

By 2001, VA Linux's original equipment and systems business model encountered stiff competition from other hardware vendors, such as Dell, that now offered Linux as a pre-installed operating system.

On June 26, 2001, VA Linux decided that it would leave the systems-hardware business and focus on software development.{{cite news | url=https://www.theregister.co.uk/2001/10/31/va_drops_linux_name_boots/ | title=VA drops Linux name, boots out Kuro5hin | first=Andrew | last=Orlowski | work=The Register | date=October 31, 2001}}{{cite press release | url=https://tech-insider.org/linux/research/2001/0627.html | title=VA Linux Outlines New Strategic Focus on Software | publisher=Business Insider | date=June 26, 2001}} During the summer of 2001, all 153 of the hardware-focused employees were dismissed as a result of this shift in the company's business model.{{cite news | url=http://www.internetnews.com/bus-news/article.php/793011/VA+Linux+Drops+Hardware+Division.htm | title=VA Linux Drops Hardware Division | first=Michael | last=Singer | work=QuinStreet | date=June 27, 2001}}{{cite news | url=https://www.forbes.com/2001/06/28/0628valinux.html | title=VA Linux Gives Up The Hard Stuff | first=Betsy | last=Schiffman | work=Forbes | date=June 28, 2001}}{{cite news | url=https://www.theregister.co.uk/2001/06/29/va_linux_quits_hardware_ahead/ | title=VA Linux quits hardware ahead of PC bloodbath | first=Andrew | last=Orlowski | work=The Register | date=June 29, 2001}}{{cite news | url=https://www.cnet.com/news/va-linux-leaves-hardware-lays-off-workers/ | title=VVA Linux leaves hardware, lays off workers | first=Stephen | last=Shankland | work=CNET | date=January 2, 2002}}

On December 6, 2001, the company formally changed its name to VA Software, recognizing that the majority of the business was now software development and specialty news and information services.{{cite news | url=https://slashdot.org/story/01/12/07/1253241/va-linux-now-va-software | title=VA Linux Now VA Software | work=Slashdot | date=December 7, 2001}} However, the company's Japanese subsidiary still uses the name "VA Linux Systems Japan K.K."

On January 2, 2002, the company's stock price plunged 42% after an earnings warning.{{cite news | url=https://www.cnet.com/news/va-linux-stock-tumbles-on-earnings-warning/ | title=VA Linux stock tumbles on earnings warning | work=CNET | date=January 2, 2002}}

=SourceForge and OSDN=

File:Sourceforgeinclogo.png

In December 2003, VA Software marketed a proprietary SourceForge Enterprise Edition, re-written in Java for offshore outsourcing software development.{{cite press release | url=https://www.businesswire.com/news/home/20031208005258/en/Latest-Product-VA-Software-Governance-Offshore-Outsourcing | title=Latest Product from VA Software Provides Better Governance for Offshore Outsourcing | publisher=Business Wire | date=December 8, 2003}}

By April 2004, the company focused on SourceForge, an online software application, and OSDN, a group of websites catering to people in the information technology and software development industries, which was renamed to Open Source Technology Group (OSTG). At that time, the stock was trading at $1.94/share.{{cite web | url=https://www.nasdaq.com/markets/spos/filing.ashx?filingid=2755067 | title=VA SOFTWARE CORPORATION PROSPECTUS VA SOFTWARE CORPORATION | publisher=NASDAQ}}

In January 2006, VA Software sold Animation Factory to Jupitermedia Corporation.{{cite press release | url=https://www.businesswire.com/news/home/20051227005071/en/Jupitermedias-Jupiterimages-Division-Announces-Acquisition-Animation-Factory | title=Jupitermedia's JupiterImages Division Announces Acquisition of Animation Factory | publisher=Business Wire | date=December 27, 2005}}

On April 24, 2007, the company sold SourceForge Enterprise Edition to CollabNet.{{cite news | url=https://www.eweek.com/development/collabnet-acquires-sourceforge | title=CollabNet Acquires SourceForge | first=Darryl K. | last=Taft | work=EWeek | date=April 24, 2007}}{{cite press release | url=https://www.businesswire.com/news/home/20070731005466/en/CollabNet-Releases-SourceForge-Enterprise-Edition-4.4 | title=CollabNet® Releases SourceForge® Enterprise Edition 4.4 | publisher=Business Wire | date=July 31, 2007}}

On May 24, 2007, VA Software changed its name to SourceForge Inc. and merged with OSTG.{{cite news | url=https://www.barrons.com/articles/BL-TB-3393 | title=VA Linux Changes Name To SourceForge; FY Q3 Revs Come Up Short | author=Eric | work=Barron's | date=May 24, 2007 | url-access=subscription}}{{cite news | url=https://www.networkworld.com/article/2290465/va-software-drops-software--becomes-sourceforge-inc-.html | title=VA Software drops software, becomes Sourceforge Inc. | first=Elizabeth | last=Montalbano | work=International Data Group | date=May 24, 2007}}

On January 5, 2009, Scott Kauffman was appointed president and chief executive officer of SourceForge.{{cite news | url=https://www.digitalcommerce360.com/2008/12/29/scott-kauffman-is-the-new-president-and-ceo-at-sourceforge/ | title=Scott Kauffman is the new president and CEO at SourceForge | first=Mark | last=Brohan | work=Digital Commerce 360 | date=December 29, 2008}}

=Geeknet=

In November 2009, SourceForge, Inc. changed its name to Geeknet, Inc.{{cite news | url=https://www.bizjournals.com/sanjose/stories/2009/11/02/daily76.html | title=SourceForge becomes Geeknet | work=American City Business Journals | date=November 4, 2009}}

Geeknet president and chief executive officer Scott Kauffman resigned on August 4, 2010, and was replaced by executive chairman Kenneth Langone and the company changed its ticker symbol to GKNT.{{cite press release | url=https://www.globenewswire.com/news-release/2010/08/04/426874/198460/en/Geeknet-Announces-Second-Quarter-Financial-Results-and-Departure-of-President-and-CEO-Scott-Kauffman.html | title=Geeknet Announces Second Quarter Financial Results and Departure of President and CEO Scott Kauffman | publisher=Globe Newswire | date=August 4, 2010}}

On August 10, 2010, Jason Baird, the chief operations officer, and Michael Rudolph, the chief marketing officer resigned, both effective 31 August 2010. Jay Seirmarco, the chief technology officer also resigned, effective September 30, 2010.

Effective January 31, 2011, Geeknet appointed Matthew C. Blank, former chief executive officer and chairman of Showtime Networks as a member of its board of directors.{{cite press release | url=https://www.thestreet.com/story/10992240/1/geeknet-appoints-matthew-c-blank-to-its-board-of-directors.html | title=Geeknet Appoints Matthew C. Blank To Its Board Of Directors | publisher=TheStreet.com | date=February 1, 2011}}

Later in 2011, the company renamed its Freshmeat website to Freecode.{{cite web | url=http://freshmeat.sourceforge.net/articles/whats-in-a-name | title=What's in a name? | publisher=Freecode}}

In September 2012, Slashdot, SourceForge, and Freecode were sold to Dice Holdings for $20 million, leaving ThinkGeek as the sole property of Geeknet.{{cite news | url=https://www.theverge.com/2012/9/18/3351804/slashdot-sourceforge-purchased-by-dice | title=Slashdot, SourceForge, and Freecode purchased by career website company Dice for $20 million | first=Dante | last=D'Orazio | work=The Verge | date=September 18, 2012}}{{cite news | url=https://techcrunch.com/2012/09/18/dice-holdings-buys-slashdot-sourceforge-and-freecode-from-geeknet/ | title=Dice Holdings Pays $20M Cash For Slashdot, SourceForge And Freecode From Geeknet | first=Ingrid | last=Lunden | work=TechCrunch | date=September 18, 2012}}{{cite news | url=https://www.theregister.co.uk/2012/09/19/dice_acquires_geeknet/ | title=Dice swallows Slashdot, SourceForge, Freecode in $20m deal | first=Neil | last=McAllister | work=The Register | date=September 19, 2012}}

On May 26, 2015, it was announced that pop culture-oriented retailer Hot Topic had made an offer to acquire Geeknet for $17.50 per-share, valuing the company at $122 million.{{cite press release | url=https://www.prnewswire.com/news-releases/hot-topic-to-acquire-geeknet-inc-parent-company-of-online-retailer-thinkgeek-300088388.html | title=Hot Topic to Acquire Geeknet, Inc., Parent Company of Online Retailer ThinkGeek | publisher=PR Newswire | date=May 26, 2015}}{{cite news | url=https://arstechnica.com/business/2015/05/hot-topic-enters-agreement-to-buy-thinkgeek-parent-company-geeknet-inc/ | title=Hot Topic enters agreement to buy ThinkGeek parent company Geeknet Inc. | first=LEE | last=HUTCHINSON | work=Ars Technica | date=May 26, 2015}}{{cite news | url=https://www.wsj.com/articles/hot-topic-to-buy-retailer-geeknet-inc-1432639751 | title=Hot Topic to Buy Retailer Geeknet Inc. | first=Chelsey | last=Dulaney | work=The Wall Street Journal | date=May 26, 2015 | url-access=subscription}} However, on May 29, 2015, it was revealed that an unspecified company had made a counter-offer of $20 per-share; Hot Topic was given until June 1, 2015, to exceed this new offer.{{cite news | url=https://www.bloomberg.com/news/articles/2015-05-29/geeknet-gives-hot-topic-three-days-to-match-higher-rival-offer | title=Geeknet Gives Hot Topic Three Days to Match Higher Offer | first=Lindsey | last=Rupp | work=Bloomberg L.P. | date=May 29, 2015 }}{{cite news | url=https://www.wsj.com/articles/geeknet-calls-new-takeover-offer-superior-to-hot-topics-bid-1432911893 | title=Geeknet Calls New Takeover Offer Superior to Hot Topic's Bid | first=Lisa | last=Beilfuss | work=The Wall Street Journal | date=May 29, 2015 | url-access=subscription}} On June 2, 2015, it was announced that video game retail chain GameStop would acquire Geeknet for $140 million, paying $20 per share.{{cite news | url=https://arstechnica.com/business/2015/06/gamestop-outbids-hot-topic-for-thinkgeek-parent-company-purchase/ | title=GameStop outbids Hot Topic for ThinkGeek parent company purchase | first=LEE | last=HUTCHINSON | work=Ars Technica | date=June 2, 2015}}{{cite news | url=https://www.wsj.com/articles/gamestop-agrees-to-acquire-geeknet-trumping-hot-topic-1433255085 | title=GameStop Agrees to Acquire Geeknet, Trumping Hot Topic | first=Tess | last=Stynes | work=The Wall Street Journal | date=June 2, 2015 | url-access=subscription}}{{Cite web|url=https://www.nbcdfw.com/news/local/geeknet-bought-by-gamestop/164606/|title=Geeknet Ends Deal With Hot Topic, Takes GameStop Offer|website=NBC 5 Dallas-Fort Worth|language=en-US|access-date=2020-03-06}} The deal closed on July 17, 2015.