Gadzoox Networks, Inc.

Founded	1996; 28 years ago (1996)
Defunct	2003; 21 years ago (2003)
Fate	Bankruptcy; acquired by Broadcom
Headquarters	San Jose, California

Gadzoox Networks, Inc. produced hardware and software for the entry-level storage area network market. In 2000, at the peak of the dot-com bubble, the company was valued at $2 billion; however, after filing bankruptcy in 2002, its assets were acquired by Broadcom in 2003 for $5.8 million.

History

The company was founded in 1996.^[1]

In March 2000, the company acquired SmartSAN for $23.5 million.^[2]

In June 2000, the company launched Axxess.^[3]

In July 2000, during the dot-com bubble, the company became a public company via an initial public offering. Shares were priced at $21 each but soared as high as $87 each on the first day of trading, giving the company a market capitalization of $1.97 billion.^[4]

In August 2000, Bill Sickler, the CEO of the company, and Christine E. Munson, the CFO of the company, resigned after announcing a financial restatement.^[5]

In January 2002, the company raised $8.9 million in funding.^[6]

In August 2002, the company filed bankruptcy.^[7]

In March 2003, Broadcom acquired the assets of the company for $5.3 million.^[8]

References