RMIPure Storage Names Google Finance Officer As CFO
Pure Storage, the fast-growing information storage start-up that appears to attract financial investment money like a magnet, now has a new CFO to monitor all of it.
The company announced today that it has actually named Tim Riitters, a former finance officer at Google, as its brand-new CFO, effective Aug. 26.
At Google, Riitters was ran the yearly financial planning and budgeting processes and led the finance group on predicting income. Before that he ran Googles European finance operations from its office in Dublin. Before that he worked at Siebel Systems and Deloitte.
Pure, which concentrates on storage varieties based upon flash memory chips rather of traditional toughhard drives, has been growing like crazy; its sales have actually regularly grown by HALF or more a quarter every quarter, CEO Scott Dietzen states.
So whens the IPO? Working with a CFO is typically a vital step on the course to that process. Heres what Dietzen needs to state about that in a statement to Re/code (its quitebasically what hes stated all along): While an initial public offeringa going public may occur in our future and long-lasting freedom is certainly our plan, we are already aiming to run Pure like a public company today, with quarterly reporting to our public market investors. No doubt there is more work to be done, but rest ensuredfelt confident we are not in a rush honestly, there are advantages to remaining to hire as a personal business.
In May, it raised $225 million in a Series F led by T. Rowe Cost and the private equity firms Tiger Global and Wellington Management at an implied evaluation of more than $3 billion. Other investors consist of Greylock Partners, Index Ventures, Redpoint Ventures and Sutter Hill Ventures. The round enhanced its overall capital raised to a massive $470 million.
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