AJAXWorld News Desk
Violin Gets $96 Million to Tide It Over Till IPO
The new money reportedly comes from a flock of 126 private investors
By: Maureen O'Gara
Feb. 25, 2013 09:00 AM
Flash storage array start-up Violin Memory is storing up greenbacks.
According to an amended SEC filing made late last week it's gotten $96.3 million out of what may become $130 million in new funding.
All Things Digital reports hearing the financing was done at an implied valuation of $850 million to fund operations ahead of a delayed IPO that was supposed to come off late last year and is now supposedly targeted for early May. Granted that seems an awful lot of money for just a few months.
Violin reportedly filed to go public under that newfangled Jumpstart Our Business Startups Act that lets companies keep their financials hush-hush until close to going public.
As of last April Violin had raised $172 million, money that came from Juniper Networks, Toshiba, SAP Ventures, Highland Capital and GE Capital.
The new money reportedly comes from a flock of 126 private investors.
The Register toys with the idea that maybe Violin is using the money as a hex sign to ward off a would-be acquirer.
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