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Categories: Hyper-converged Pivot3

Is an IPO being planned? #Hyperconverged system supplier #Pivot3 says it had record growth in the first half of 2016, with a 103 per cent revenue increase and more than 400 new customers, and has hired a new CFO. Bill Stover has been appointed Pivot3’s finance head. Mike Dansby was the prior CFO, serving from June 2014 to July this year, and with no subsequent entry on his LinkedIn profile. Stover has Micron CFO time in his background and thinks Pivot3 has excellent growth potential. CEO Ron Nash said, “Bill Stover, with his experience as CFO of a publicly traded company for over a decade, is exactly what we need at this time.” Why would he say this when Pivot3 isn’t a public company and doesn’t have the financial burdens of a public business? It looks like an IPO is a prospect in Nash’s future view. In a release about its growth, Nash’s canned quote said; “Pivot3 is experiencing record growth, but we are also becoming more efficient as we grow. We are building a company that is competent, innovative, visionary, customer-focused, fast-growing and financially stable, earning our customers’ and industry’s respect. None of our competitors have all of those attributes. We are here to build a company for long-term success, with the best technology, team and financially prudent growth strategy.”

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