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Netezza Files To Go Public

Motorola CEO Ed Zander and One Laptop Per Child CFO Charles Kane sit on its board

Jit Saxena, who started and took Applix public in 1994, is trying again with Netezza, which filed its S-1 papers with the SEC the other day.

Netezza, which is still losing money, is looking to pick up about $100 million, less than it's been fetching in revenues for its Linux-based storage-replacing data-analyzing data warehouse appliances.

It's gotten $68 million in VC from Matrix Partners, Charles River Ventures, Battery Ventures, Orange, also a customer, Sequoia Capital and Meritech Capital Partners.

Motorola CEO Ed Zander and One Laptop Per Child CFO Charles Kane sit on its board.

Credit Suisse and Morgan Stanley are supposed to take it out.

The company web site decribes Saxena's bio as:

Jit Saxena, a business-savvy entrepreneur, brings an impressive portfolio of accomplishments, skills and experience to Netezza.

Previously, Saxena was founder, chairman and CEO of Applix Inc., a leading provider of analytical CRM software that he took public in 1994. While at Applix, Saxena guided the company to a leadership position in the CRM market and achieved an eight-fold increase in market value subsequent to the IPO. Through his vision, the company was continually an innovator in new high growth markets.

Prior to founding Applix, Saxena was a senior director at Data General where he was responsible for the development of the company's software products. At Data General, he held several other senior management positions and built a successful development organization that introduced industry-leading software in many categories.

Saxena earned an MS in Electrical Engineering from Michigan State University, an MBA from Boston University and a B. Tech (EE) from the Indian Institute of Technology (Mumbai). In July 2003, he was named an Ernst & Young New England Entrepreneur of the Year.

Previously, Saxena was founder, chairman and CEO of Applix Inc., a leading provider of analytical CRM software that he took public in 1994. While at Applix, Saxena guided the company to a leadership position in the CRM market and achieved an eight-fold increase in market value subsequent to the IPO. Through his vision, the company was continually an innovator in new high growth markets.

Prior to founding Applix, Saxena was a senior director at Data General where he was responsible for the development of the company's software products. At Data General, he held several other senior management positions and built a successful development organization that introduced industry-leading software in many categories.

Saxena earned an MS in Electrical Engineering from Michigan State University, an MBA from Boston University and a B. Tech (EE) from the Indian Institute of Technology (Mumbai). In July 2003, he was named an Ernst & Young New England Entrepreneur of the Year.

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Most Recent Comments
John Susag 04/01/07 09:17:26 PM EDT

Some basic errors in your article:
1) VC have supplied $73M, not $68.
2) Netezza revenue for last fiscal year was $79M, which is less than $100M. Your article strongly implies Netezza revenue was > $100M.

Linux News 03/31/07 02:43:06 PM EDT

Jit Saxena, who started and took Applix public in 1994, is trying again with Netezza, which filed its S-1 papers with the SEC the other day. Netezza, which is still losing money, is looking to pick up about $100 million, less than it's been fetching in revenues for its Linux-based storage-replacing data-analyzing data warehouse appliances. It's gotten $68 million in VC from Matrix Partners, Charles River Ventures, Battery Ventures, Orange, also a customer, Sequoia Capital and Meritech Capital Partners. Motorola CEO Ed Zander and One Laptop Per Child CFO Charles Kane sit on its board. Credit Suisse and Morgan Stanley are supposed to take it out.