Tintri, once nearing a unicorn valuation, files for bankruptcy

By Marlize van Romburgh

Tintri Inc. has filed for Chapter 11 bankruptcy protection and said that DataDirect Networks, a privately held data storage company based in Southern California, has signed a letter of intent to acquire “substantially all” of its assets. It’s been a sudden decline for the Mountain View-based flash storage provider, which went public on the Nasdaq in a $60 million IPO just over a year ago and at one point was valued at more than $900 million by its venture investors.

Tintri said Tuesday that it…

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Read more here:: bizjournals.com

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