IPO Filing: Netezza Corp

There has been a company under the name Netezza Corporation that has filed to come public via an IPO under the ticker “NTZA” on NASDAQ.  The company lists Credit Suisse and Morgan Stanley as lead underwriters and co-managers are listed as Needham and as Thomas Weisel.  For filing purposes it lists $100 million as the amount to be raised.

The company makes performance servers called the Netezza Performance Servers  with what it feels is price consciousness, scalability, performance, power efficiency, and reliability.  As of January 31, 2007, it has shipped over 200 data warehouse appliances worldwide to 87 data-intensive customers including large global enterprises, mid-market companies and government agencies: Ahold, Amazon.com, American Red Cross, AOL, Blue Cross Blue Shield-R.I., Capital One, Catalina Marketing, CNET Networks, CompuCredit, LoanPerformance, Marriott, NASD, Neiman Marcus, Nielsen Company, Orange UK, Restoration Hardware, Ross Stores, Ryder Systems, Source Healthcare Analytics, US Army Corps of Engineers, and the US Department of Veterans Affairs.

Revenues have increased from $13.6 million in fiscal 2004 to $79.6 million in fiscal 2007.  2007 revenues are broken down as $64.6 million in product sales and $14.989 million in services.  The net loss attributable to shareholders is noted as $13.9 million for fiscal 2007.

This one is venture-backed with Matrix Partners owning 20.75%, Charles River Partnership owning 19.59%, Battery Ventures owning 16.82%, Sequoia Capital owning 15.2%, and Meritech Capital Partners holding 6.8%.  Oddly enough, Ed Zander is listed as one of the much smaller holders of the stock along with many other individuals.

In a networking and storage world-gone-wild, this one at least has a story behind it.

Jon C. Ogg
March 23, 2007