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GOLDMAN SACHS GROUP (GS)
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OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles

Goldman, Redpoint Add to $25 Million Funding Round for Networking Start-up Big Switch

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10/31/2012 | 01:13am CEST

By Drew Fitzgerald

Big Switch Networks Inc. said funds run by Redpoint Ventures and Goldman Sachs Group Inc. (>> Goldman Sachs Group, Inc.) have joined existing venture-capital backers with a $25 million in Series B investment in the networking start-up, among the latest to attract attention in Silicon Valley.

Founded in 2010, Big Switch is among a fast-growing crop of start-ups rushing to offer tools for software-defined networking, or SDN, a concept that promises to dramatically simplify the way information-technology managers run the mesh of routers and switches that connects their data centers. The company raised $14 million last year from Index Ventures and Khosla Ventures, two other funds with experience in IT.

Software provider VMware Inc. (>> VMware, Inc.), no stranger to technology involved in giving programs more control of hardware, in July offered $1.26 billion to buy Nicira Inc., another SDN company founded by a former professor at Stanford University.

Big Switch Chief Executive Guido Appenzeller, who ran a Stanford lab that helped create new standards to form a base for the technology, declined to name his company's customers, though Big Switch says it has generated revenue since its inception.

Mr. Appenzeller said the software maker could have raised twice as much in the second round but didn't make deals with some potential backers to avoid diluting the founders' shares. Big Switch can operate on a much leaner budget than many traditional networking companies because of the nature of its technology, he said.

"We're simply building software," Mr. Appenzeller said."We don't have a single hardware engineer working for us."

Analysts say such software could threaten traditional network gear makers such as Cisco Systems Inc. (>> Cisco Systems, Inc.) and Juniper Networks Inc. (>> Juniper Networks, Inc.) by making the brand underlying software controllers less relevant, eating into their margins. Mr. Appenzeller said most major hardware companies in the sector have cooperated to help Big Switch's technology work with their products, though some have been slower to move.

Write to Drew Fitzgerald at [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article
ChangeLast1st jan.
CISCO SYSTEMS 0.07% 43.845 Delayed Quote.14.41%
GOLDMAN SACHS GROUP -0.13% 228.19 Delayed Quote.-9.17%
JUNIPER NETWORKS 1.16% 27.125 Delayed Quote.-4.25%
VMWARE, INC. 1.08% 152.8 Delayed Quote.20.69%
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Financials ($)
Sales 2018 35 307 M
EBIT 2018 12 268 M
Net income 2018 8 959 M
Debt 2018 -
Yield 2018 1,41%
P/E ratio 2018 9,94
P/E ratio 2019 9,47
Capi. / Sales 2018 2,48x
Capi. / Sales 2019 2,43x
Capitalization 87 400 M
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Goldman Sachs Group Technical Analysis Chart | GS | US38141G1040 | 4-Traders
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Number of Analysts 27
Average target price 271 $
Spread / Average Target 19%
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Managers
NameTitle
Lloyd Craig Blankfein Chairman & Chief Executive Officer
David Michael Solomon President & Chief Operating Officer
R. Martin Chavez Chief Financial Officer & Executive Vice President
James A. Johnson Independent Director
William W. George Independent Director
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