Fusion-IO Ups IPO Price

Fusion-IO, the developer of flash- memory technology for companies, has upped the value of its IPO, raising the price of shares to $16 to $18 per share. This is an increase of the previous value of shares, which was $13 to $15 per share. This now values Fusion-io at $1.4 billion. Interest in Fusion-io is hot because the flash-memory space is hot, and it also counts Facebook and Apple among two of its largest customers. It also has Steve Wozniak among its employees. Wozniak is chief scientist of the company. The company raised over $100 million from notable venture capital firms, including Meritech Capital Partners, Accel Partners, Andreessen Horowitz and Triangle Peak Partners, New Enterprise Associates and Lightspeed Venture Partners. The company will trade on the New York Stock Exchange on Thursday under the symbol “FIO.” The company has experienced incredible growth, as revenues have risen nearly fivefold and gross profit rose foudfold from last year.