Fusion-io, maker of PCIe-attached Flash memory devices, saw its shares grow 34 percent in value upon its debut on the stock market.
The Salt Lake City-based company, which counts Facebook, HP and IBM among its largest customers, saw its shares climb from their IPO price of $19 (£11.65) to open at $25 on its first day of trading on Thursday, according to Reuters.
Fusion-io's technology brings Flash memory closer to the compute pools of a server by linking in via PCIe, rather than slower data transfer protocols such as ethernet or Fibre Channel. Facebook uses the technology as an additional storage tier between disk and on-server RAM in a bid to speed access and input/output rates to high-traffic applications.
There are doubts about how the company can compete against established storage companies. "How can a little company, as great as it is doing, compete with bazillion dollar component manufacturers long term? Answer: it can't. Toshiba or Samsung or someone is going to ultimately do this and do it a ton cheaper than Fusion-io can," ESG senior analyst Steve Duplessie wrote on his blog on 22 April.
Though the company has so far managed to strengthen its original equipment manufacturer (OEM) relationships in 2011 with vendors such as Dell and Supermicro, it hasn't released new technology for a while. Its last product announcement was the launch of a software management platform — the Fusion ioSphere Platform — in November.