Looking Past The IPO
All-flash storage technology developer Tintri was set to hold its IPO Thursday, June 29, but didn't. Instead, it cut its IPO price from the expected $10.50 to $12:50 per share to $7.00 to $8.00 per share, then held its IPO on Friday, June 30. It opened at $7.00 per share and has since traded close to its opening price.
Kieran Harty, Tintri's co-founder and chief technology officer, discussed the Mountain View, Calif.-based company's IPO with CRN, and said the delay was caused in part by investors lumping Tintri into the same bucket as a number of storage vendors that in the past couple of years have stumbled post-IPO instead of thinking of Tintri as a cloud technology provider.
Harty also discussed plans to make Tintri profitable, and offered a peek into product development plans, but cited the fact the company is now public as a reason for not getting into details.
Here's a look at the thinking behind the IT industry's most recent IPO.
Pictured l. to r. are Harty, co-founder; Ken Klein, CEO; and Mark Gritter, architect and co-founder.