![]() On June 1, 2015, Tom Georgens stepped down as CEO and was replaced by George Kurian. In 2008, Network Appliance officially changed its legal name to NetApp, Inc., reflecting the nickname by which it was already well-known. In 2006, NetApp sold the NetCache product line to Blue Coat Systems. Since then, the company's revenue has steadily climbed. ![]() After the bubble burst, NetApp's revenues quickly declined to $800 million in its fiscal year 2002. NetApp thrived in the internet bubble years of the mid 1990s to 2001, during which the company grew to $1 billion in annual revenue. It had its initial public offering in 1995. In 1994, NetApp received venture capital funding from Sequoia Capital. At the time, its major competitor was Auspex Systems. NetApp was founded in 1992 by David Hitz, James Lau, and Michael Malcolm as Network Appliance, Inc. 8.1.2 Legal dispute with Sun Microsystems.3.4.1 2U HCI Chassis with four half-width blade servers.3.1 NetApp ONTAP-based Hardware Appliances.
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