ANDA Networks files for Nasdaq IPO
In one of the last tech filings of the year, ANDA Networks has applied for an initial public offering on the Nasdaq that could raise almost $90 million.
ANDA manufactures equipment used by telecom carriers (primarily Verizon) to provide high-speed broadband to their customers. Founded in 1998, it has only had one profitable year, in 2005, but has steadily narrowed its average losses.
Investors in the Sunnyvale, Calif. firm include Venrock Associates, Highland Capital, Crimson Asia Capital, Saints Ventures, Cascade Capital Management and Fuhwa Venture Capital.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.