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Investing

IPO Filing: 3PAR

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By Douglas A. McIntyre Published

A fairly recent IPO filing has come from 3PAR Inc., although the company has an identity crisis as it isn’t sure if it wants to list on NASDAQ or on the NYSE.  Underwriters look a though Goldman Sachs and Credit Suisse are the leads, with UBS, Thomas Weisel, and RBC as co-managers.

This is a ulitilty storage play. 3PAR is a provider of utility storage solutions for large to medium enterprises, business-oriented service providers, consumer-oriented Internet/Web 2.0 companies and government entities that offers scalable tiered storage arrays designed to dramatically enhance the economics and performance of storage. It delivers utility storage solution through its InServ Storage Server arrays powered by its InForm Suite of software.

3PAR began commercial shipments in March 2002 and have shipped over 400 systems to more than 200 end customers.  It claims a decent list of customers: Credit Suisse Group, Department of Justice (FBI), Dow Jones, MySpace.com, Omniture, Priceline.com, SAVVIS, TransUnion, United States Census Bureau, USinternetworking/AT&T, Verizon Business, and the Virginia Information Technologies Agency.

3PAR has a year-end of March 31, and its fiscal 2007 revenues were $64.977 million and net income was -$16.423 million from core operations.  Hopefully 3PAR, or "threepar" isn’t just another Tupac sighting.

Jon C. Ogg
August 16, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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