Array Networks: Difference between revisions

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Revision as of 01:38, 28 June 2022

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'''Array Networks''' is an American [[networking hardware]] company. It sells [[network traffic control|network]] traffic encryption tools.<ref name="Buley">{{cite news|last=Buley |first=Taylor |date=2009-05-19 |title=Shunning NASDAQ |url=https://www.forbes.com/2009/05/19/nasdaq-array-networks-technology-enterprise-tech-nasdaq.html |newspaper=[[Forbes]] |accessdate=2015-04-30 |archiveurl=https://web.archive.org/web/20150430232308/http://www.forbes.com/2009/05/19/nasdaq-array-networks-technology-enterprise-tech-nasdaq.html |archivedate=2015-04-30 |url-status=live }}</ref>

Array Networks was founded in 2000 by Lawrence Lu and is based in [[Milpitas, California]].<ref name="Berndtson">Berndtson, Chad. (2011-03-24). "Array Networks Looks To Build U.S. Presence Behind New Channel Program" (pages [https://www.webcitation.org/6YBdIp650?url=http://www.crn.com/news/networking/229400263/array-networks-looks-to-build-u-s-presence-behind-new-channel-program.htm 1] and [https://www.webcitation.org/6YBdMete3?url=http://www.crn.com/news/networking/229400263/array-networks-looks-to-build-u-s-presence-behind-new-channel-program.htm/pgno/0/1 2]). ''[[CRN Magazine]]''. Archived from the original (pages [http://www.crn.com/news/networking/229400263/array-networks-looks-to-build-u-s-presence-behind-new-channel-program.htm 1] {{webarchive|url=https://www.webcitation.org/6YBdIp650?url=http://www.crn.com/news/networking/229400263/array-networks-looks-to-build-u-s-presence-behind-new-channel-program.htm |date=2015-04-30 }} and [http://www.crn.com/news/networking/229400263/array-networks-looks-to-build-u-s-presence-behind-new-channel-program.htm/pgno/0/1 2] {{webarchive|url=https://www.webcitation.org/6YBdMete3?url=http://www.crn.com/news/networking/229400263/array-networks-looks-to-build-u-s-presence-behind-new-channel-program.htm/pgno/0/1 |date=2015-04-30 }}) on 2015-04-30. Retrieved 2015-04-30.</ref> Originally called ClickArray Networks, it was renamed Array Networks in 2001 by then-incoming CEO Don Massaro who said the longer name "sounded too dot-commy".<ref name="Delevett">{{cite news |last=Delevett |first=Peter |date=2001-11-27 |title=San Jose Mercury News, Calif., Wiretap Column. |url=http://www.highbeam.com/doc/1G1-80332446.html |newspaper=[[San Jose Mercury News]] |via=[[HighBeam Research]] |url-access=subscription |accessdate=2015-04-30 |archive-url=https://web.archive.org/web/20150430230214/http://www.highbeam.com/doc/1G1-80332446.html |archivedate=2015-04-30 |url-status=dead }}</ref> It received funding from the [[venture capital]] firm [[U.S. Venture Partners]] and the [[private equity]] firm [[H&Q Asia Pacific]].<ref name="Harris">{{cite news|last=Harris |first=Scott Duke |date=2009-05-13 |title=Harris: Milpitas company offshores its IPO |url=http://www.mercurynews.com/business/ci_12353392 |newspaper=[[San Jose Mercury News]] |accessdate=2015-04-30 |archiveurl=https://web.archive.org/web/20150430230412/http://www.mercurynews.com/business/ci_12353392 |archivedate=2015-04-30 |url-status=live }}</ref>

On May 13, 2009,<ref name="Buley"/> Array Networks became the first non-Taiwan company to be listed on the [[Taiwan Stock Exchange]].<ref name="Austin">{{cite news|last=Austin |first=Scott |date=2009-07-23 |title=The Daily Start-Up: Sorting Through The Zappos Chatter |url=https://blogs.wsj.com/venturecapital/2009/07/23/the-daily-start-up-sorting-through-the-zappos-chatter/ |newspaper=[[The Wall Street Journal]] |accessdate=2015-05-01 |archiveurl=https://web.archive.org/web/20150501184442/http://blogs.wsj.com/venturecapital/2009/07/23/the-daily-start-up-sorting-through-the-zappos-chatter/ |archivedate=2015-05-01 |url-status=live }}</ref> The company sold 54 million shares that had a total value of about $79 million.<ref name="Buley"/> In 2009, 43% of the company's market share was in China, and its main product type sold there consisted of SSL VPN devices. It also had 200 employees in China, which CEO Michael Zhao said made China a "natural choice" for an IPO,<ref name="Buley"/> In comparison, the company had 70 employees in [[Silicon Valley]].<ref name="Harris"/> but because China did not allow non-Chinese companies on their exchange, he narrowed the choices down to the [[NASDAQ]] and the Taiwan Stock Exchange. He chose the Taiwan Stock Exchange for two reasons: Array Networks had a strong business presence in Asia, and Taiwan Stock Exchange's listing fees were at least one third less than the NASDAQ's.<ref name="Buley"/>