Cobalt Networks
Founded | 1996; 28 years ago (1996) |
---|---|
Founder | Vivek Mehra |
Defunct | December 7, 2000; 23 years ago (2000-12-07) |
Fate | Acquired by Sun Microsystems |
Headquarters | Mountain View, California |
Revenue | $22 million (1999) |
Net income | -$23 million (1999) |
Total assets | $151 million (1999) |
Total equity | $130 million (1999) |
Number of employees | 140 (1999) |
Footnotes / references [1] |
Cobalt Networks was a maker of low-cost Linux-based servers and server appliances based in Mountain View, California. The company had 1,900 end user customers in more than 70 countries.[1]
During the dot-com bubble, the company had a market capitalization of $6 billion despite only $22 million in annual revenue.
In 2000, the company was acquired by Sun Microsystems and in December 2003, Sun shut down the Cobalt product line.[2]
Cobalt was considered a pioneering server appliance vendor, the first to market a 1 RU rackmounted server, and was credited by the founder of RLX Technologies as paving the way for blade servers.[2]
History
The company was founded in 1996 by Vivek Mehra as Cobalt Microserver. In June 1998, the company changed its name to Cobalt Networks, Inc.[3]
The company introduced products as follows:[1]
Product | Launch date |
---|---|
Cobalt Qube | March 1998 |
Cobalt Cache | July 1998 |
Cobalt RaQ | September 1998 |
Cobalt NAS | April 1999 |
Cobalt Management Console | October 1999 |
On November 5, 1999, the company became a public company via an initial public offering. Its stock price rose as much as 618% above its $22/share initial price.[4]
On March 23, 2000, the company announced the acquisition of Chilisoft from Charlie Crystle for 1.15 million shares of Cobalt common stock, then valued at $69.9 million.[5][6]
In September 2000, Sun Microsystems announced the acquisition of the company for $2 billion in stock.[7] The acquisition was completed on December 7, 2000.
Many disgruntled engineers left the company in the months following the acquisition.[8]
In December 2003, Sun shut down the Cobalt product line.[2]
References
- ^ a b c "Commerce One, Inc. 2000 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ a b c Vance, Ashlee (December 18, 2003). "Sun drives the final nail in Cobalt's coffin". The Register.
- ^ "Company Overview of Cobalt Networks, Inc". Bloomberg L.P.
- ^ "Cobalt IPO rockets". CNN. November 5, 1999.
- ^ "COBALT NETWORKS IS BUYING CHILISOFT FOR $70 MILLION". The New York Times. Dow Jones & Company. March 24, 2000.
- ^ Uimonen, Terho (March 23, 2000). "Cobalt to Acquire Chili Soft in $70M Deal". Computerworld.
- ^ FISHER, LAWRENCE M. (September 20, 2000). "Sun Microsystems to Acquire Cobalt for $2 Billion in Stock". The New York Times.
- ^ Loney, Matt (January 5, 2004). "How to blow a billion--or two". ZDNet.
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