News, info, and opinion by Mac users, for Mac users.

August 15, 2007

money

VMWare’s success no longer just virtual

Posted Aug. 15, ’07, 9:05 AM PT by Dan Moren
Category | Money

VMWareIf you were wondering whether or not virtualization was big news to those outside of our rarefied software geek circles, you don’t need to look beyond yesterday’s initial public offering by software house VMWare, trading under ticker symbol VMW. The offering even topped Google’s launch, gaining 76% in its first day to close with a market value of $19.1 billion, making it (according to the Mercury News) the third largest “home-grown” Silicon Valley software company, after Oracle and Adobe.

VMWare employees celebrated the offering with a sleepover party, complete with pastries, champagne, and a 6AM wake-up call to watch the opening of the New York Stock Exchange, at which VMWare co-founders Professor Mendel Rosenblum, CEO Diane Greene, and Edouard Bugnion rang the opening bell. Given the fact that employees were given the option to purchase shares at just $23 a pop, there was plenty of reason to celebrate too.

Of course, the first day is just that—the first day. How VMWare will fare, especially in the volatile financial climate of recent days, is a different matter. But clearly the importance of virtualization is only just beginning.


Leave a comment

 



Visit other IDG sites: