NetApp Inc.
 |
|
| Public | |
| Traded as | |
| Industry | Storage device |
| Founded | 1992 |
| Founder |
David Hitz James Lau Michael Malcolm |
| Headquarters |
495 East Java Drive Sunnyvale, California, United States |
|
Area served
|
Worldwide |
|
Key people
|
George Kurian (CEO) Mike Nevens (Chairman of the Board) |
| Products | Data storage hardware and software |
| Revenue |
 $5.54 billion (2016) |
|
$348 million (2016) |
|
|
$229 million (2016) |
|
| Total assets |
 $10.03 billion (2016) |
| Total equity |
$2.88 billion (2016) |
|
Number of employees
|
10,700 (2016) |
| Website | www |
NetApp, Inc. is an American multinational storage and data management company headquartered in Sunnyvale, California. It has ranked in the Fortune 500 since 2012. Founded in 1992 with an IPO in 1995, NetApp offers software, systems and services to manage and store data, including its proprietary Data ONTAP operating system.
NetApp was founded in 1992 by David Hitz, James Lau, and Michael Malcolm. At the time, its major competitor was Auspex Systems. In 1994, NetApp received venture capital funding from Sequoia Capital. It had its initial public offering in 1995. NetApp thrived in the internet bubble years of the mid 1990s to 2001, during which the company grew to $1 billion in annual revenue. After the bubble burst, NetApp's revenues quickly declined to $800 million in its fiscal year 2002. Since then, the company's revenue has steadily climbed.
In 2006, NetApp sold the NetCache product line to Blue Coat Systems. In 2014, NetApp acquired Riverbed Technology's SteelStore line of data backup and protection products, which it later renamed as AltaVault. On June 1, 2015, Tom Georgens stepped down as CEO and was replaced by George Kurian.
In December 2015 (closing in January 2016), NetApp acquired flash storage vendor SolidFire for $870 million.
NetApp competes in the computer data storage hardware industry. In 2009, NetApp ranked second in market capitalization in its industry behind EMC Corporation and ahead of Seagate Technology, Western Digital, Brocade, Imation, and Quantum. In total revenue of 2009, NetApp ranked behind EMC, Seagate, Western Digital, and ahead of Imation, Brocade, Xyratex, and Hutchinson Technology. According to a 2014 IDC report, NetApp ranked second in the network storage industry "Big 5's list", behind EMC(DELL), and ahead of IBM, HP and Hitachi.
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