|Traded as||NYSE: FIO|
|Industry||Solid State Storage|
|Headquarters||San Jose, California, Cottonwood Heights, Utah, U.S.|
|Key people||Shane Robison, President and CEO
Steve Wozniak, Chief Scientist
Fusion-io, Inc. is a computer hardware and software systems company based in Cottonwood Heights, Utah, that designs and manufactures products using flash memory technology. The Fusion ioMemory platform accelerates enterprise applications such as databases, virtualization, cloud computing, big data by integrating hardware and software to overcome the limitations of legacy architectures and specialized hardware.
The company was founded in December 2005 as Canvas Technologies in Nevada. Co-founders were David Flynn and Rick White. The company is based in Cottonwood Heights, Utah, near Salt Lake City. In June 2006 the company name was changed to Fusion Multisystems, Incorporated. A product with the brand name ioDrive was demonstrated and announced in September 2007.
In March 2008, Fusion-io raised $19 million in a Series A round of funding from a group of investors led by New Enterprise Associates. David Flynn was chief technology officer, while Don Basile was chief executive officer at the time. Michael Dell invested in Fusion-io during this round.
Fusion-io raised $47.5 million in a Series B round of funding from investors led by Lightspeed Venture Partners in April 2009. Samsung later invested in Fusion-io in October 2009, signaling a deeper partnership between the two companies.
A third round of funding led by Meritech Capital Partners, with additional capital from Accel Partners and Andreessen Horowitz, provided a total of $45 million in April 2010. It was named the second most promising information technology company by The Wall Street Journal in March 2010.
Fusion-io first filed for an initial public offering (IPO) in March 2011, with shares to be listed on the New York Stock Exchange with symbol FIO. At the time, Facebook accounted for most of its revenues. In June 2011, Fusion-io announced it increased the price of its IPO to put the company's total value at $1.4 billion. The company had previously priced its shares to value the company at about $1.17 billion. The shares were offered on June 9, raising the valuation to about $2 billion.
On August 5, 2011, Fusion-io acquired IO Turbine for about $95 million. IO Turbine's main product was the ioTurbine hybrid array (caching to flash) software, which is virtualization-aware, particularly of VMware environments.
In January 2012, Fusion-io achieves a record breaking billion IOPS from eight servers at the DEMO Enterprise event in San Francisco.
At Storage Field Day 3, Fusion-io announced their acquisition of NexGen Storage in April 2013 for $114 million cash and $5 million in stock. NexGen was located in Louisville, Colorado and had a product it called n5, which it announced in November 2011 and upgraded in July 2012. The n5 was a hybrid product including hard disk drives as well as flash memory, aiming to provide more consistent performance guarantees than only disks. The n5 was renamed ioControl hybrid storage after acquisition.
A scalable multi-queue block layer for the Linux kernel has been developed by Fusion-io engineers Jens Axboe and Shaohua Li, and merged into the Linux kernel mainline in kernel version 3.13, released on 19 January 2014. This new block layer leverages the parallelism (and thus provides much higher performance) offered by SSDs using NVM Express. With the release of Linux kernel version 3.13, only the virtioblk driver has been modified to actually use this new interface; other drivers will be ported in the following releases. A technical presentation paper of this new feature was previously published at ACM SYSTOR'13.
In January 2014, Jens Axboe announced he was leaving Fusion-io to join Facebook.
Fusion-io has other partnerships with IBM, Dell, Cisco, Fujitsu and Supermicro. IBM’s project Quicksilver, based on Fusion-io technology, showed that solid-state technology in 2008 could deliver 1 million IOPS. As of December 2009, IBM offered the High IOPS SSD PCIe Adapter, based on the ioDrive, for IBM servers.
|This section requires expansion. (January 2014)|
In the past Fusion-io has been repeatedly criticized for depending too heavily on two major customers—Facebook and Apple. However, during the F2Q 2014 earnings call it was made clear that in Q2 the orders of twelve customers exceeded $1 million each.
Chosen as Red Herring Top 100 Global Company in February 2009.
Chosen “No. 1 innovation up-and-comer in the world” by BusinessWeek reader poll.
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