Flash memory company Violin Memory has filed to go public last month under the Jumpstart Our Business Startups Act (JOBS Act). This deal is being led by JPMorgan, Deutsche Bank, and Bank of America.
The valuation is at roughly around $2 billion. Violin’s storage systems are being used in products created by Cisco Systems, Oracle Corporation, and VMware.
Through the JOBS Act, companies are allowed to keep their plans confidential with the U.S. SEC until three weeks before the roadshow. The JOBS Act was signed into law by President Barack Obama this past April.
Another startup that recently filed to go public under the JOBS Act is Workday Inc. The bill is applicable to companies that make less than $1 billion in annual revenue.
Violin Memory raised $50 million in a private round of funding earlier this year and they were valued at over $800 million. Violin Memory was founded in 2005 and is led by CEO Don Basile.