Flash storage pioneer Violin Memory files for bankruptcy
Posted on Friday, December 16th, 2016 at 9:04 pm
California-based technology company Violin Memory recently revealed they filed for Chapter 11 bankruptcy after failing to keep up with the stiff data storage competition, an article of CRN reported on December 15.
According to reports, Violin Memory plans to sell their assets in an auction as part of the bankruptcy filing. Though the company was a pioneer of “flash storage” technology, they have not used it to their advantage against competitors. The company reportedly started experiencing hardships after several computing companies began making their own versions of the flash storage technology. Reports also revealed that its stocks plummeted significantly after the company went public.
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