NetApp, Inc. is an American hybrid cloud data services company and data management company based in Sunnyvale, California. It has been ranked in the Fortune 500 since 2012. Founded in 1992 with the IPO in 1995, NetApp offers hybrid cloud data services to manage applications and data across cloud and in-house environments. NetApp was founded in 1992 by David Hitz, James Lau, and Michael Malcolm as Hardware Network, inc. at the time, was its main competitor Auspex Systems. In 1994, Natabe received investment capital financing from Sequoia Capital. It was initially publicly introduced in 1995. NetApp flourished in the internet bubble years from the mid-1990s to 2001, during which the company grew to $1 billion in annual revenue. After the bubble burst, Natabe's revenue slumped to $800 million in fiscal year 2002. Since then, the company's revenues have steadily increased. in 2006, NetApp sold netCache's production line to Blue Coat Systems.In 2008, the device network officially changed its legal name to NetApp, Inc., reflecting the title that was already known. On June 1, 2015, Tom George stepped down as CEO and was replaced by George Kurian.In May 2018 NetApp announced the first End to End NVMe array called All Flash FAS A800 with the release of ONTAP 9.4. NetApp claims more than 1.3 million IOPS per 500 microseconds per pair of high availability. In January 2019 Dave Hitz announced his retirement from NetApp.