Netezza Files to Raise $100 Million in IPO - Framingham, MA
Netezza, a Framingham-based provider of data warehouse appliances, has filed papers with the Securities and Exchange Commission for an initial public offering to raise an estimated $100 million. The company did not disclose yet an expected share price range for the offering. Founded in 2000, Netezza makes data warehouse appliances for "data-intensive" customers. Since it began shipping our products in 2004, Netezza's revenue has grown from $13 million to $30.9 million in fiscal 2005, $45.5 million in fiscal 2006 and $64.6 million in fiscal 2007, with a loss of $7.9 million in the last year.