Geeknet
Encyclopedia
Geeknet, Inc. is a Mountain View, California
company that owns several computer tech-related websites and the online retailer ThinkGeek
. Formerly known as VA Research, VA Linux Systems, VA Software, and SourceForge, Inc., it was founded in 1993.
graduate student Larry Augustin
and James Vera. Augustin was a Stanford colleague of Jerry Yang and David Filo
, the founders of Yahoo!
. VA Research built and sold personal computer
systems with the Linux
operating system installed, as an alternative to more expensive Unix
workstations available at the time. At the time they started operations, they were one of the first computer vendors to offer Linux as a pre-installed operating system. During its initial years of operation, the business was profitable and grew quickly, with over $100 million in sales and a 10-percent profit margin in 1998. It was the largest vendor of pre-installed Linux computers, having approximately 20 percent of the Linux hardware market.
In October 1998, the company received investments of $5.4 million ($ million adjusted for inflation) from Intel and Sequoia Capital
.
In the spring of 1999, VA Research purchased Enlightenment Solutions, marketing company Electric Lichen L.L.C., and VA's top competitor, Linux Hardware Solutions. That year, VA Research also won a business-plan competition for the right to operate the linux.com
domain. It was rumored that Microsoft and other bidders (Compaq, Red Hat, and HP) had offered more cash for the domain, but lacked detailed plans for its use. In May 1999, VA created a Linux Labs division, hiring former linux.com domain holder and programmer Fred van Kempen, and programmers Jon "maddog" Hall, Geoff "Mandrake" Harrison, and San "nettwerk" Mehat. VA began porting Linux to the new IA-64 processor architecture in earnest. Intel and Sequoia, along with Silicon Graphics
and other investors, added an additional $25 million ($ million adjusted for inflation) investment in June 1999. By then, VA had also begun to make plans to change its name to VA Linux Systems and conduct an initial public offering
of its stock.
VA Linux Systems took its stock public in an initial public offering
(IPO) on 9 December 1999, under the stock symbol LNUX. The IPO offered shares at $30, but the traders held back the opening trade until the bids hit $299. The stock popped up to $320 later in the day, and closed its first day of trading at $239.25—a 698-percent return on investment. However, this high-flying success was short-lived, and within a year the stock was selling at well below the initial offer price. , this was still the most successful IPO of all time. The stock price reached an intra-day peak of 54 cents on 24 July 2002. It then soared more than 1,000 percent to an intra-day high of $6.38 on 11 September 2003. As of 26 November 2006, the stock closed at $4.64.
Many authors of free software
were invited to buy shares at the initial price offering as part of a "friends and family" deal.
Due to the immense difference between the IPO offering price and the opening price, VA Linux did not actually raise much capital in the offering, and the stock price sagged as investors realized that the company's revenue and profitability were not likely to justify the share price. On 3 February 2000, the company announced that it was acquiring Andover.net (which had recently conducted its own initial public offering). This acquisition gave VA Linux popular online media properties such as Slashdot
, Andover News Network, Freshmeat
, NewsForge, linux.com
, Kuro5hin
(until 2001), and a variety of online software development resources, as well as a stable of writers such as Rob Malda
, Robin Miller
, Jack Bryar, Rod Amis, Jon Katz
, and "CowboyNeal". Shortly after, all of Andover.net's assets were transferred to a new division of VA Linux called the Open Source Developers Network (OSDN).
The acquisition was controversial within the Linux community. Bryar, in particular, wrote multiple articles suggesting that most Linux-oriented businesses were poorly thought out. He cautioned that the excitement over Linux was little more than another Internet bubble. Nonetheless, this acquisition eventually allowed the company to shift its business model from Linux-based product sales to specialty media and software development support.
On 6 December 2001, the company formally changed its name to VA Software, recognizing that the majority of their business was now software development and specialty news and information services. However, the company's Japan
ese subsidiary still uses the name "VA Linux Systems Japan K.K." In January 2002, Sumitomo Corporation
became the largest shareholder in VA Linux Systems Japan, and the Japanese subsidiary became independent of VA Software.
OSDN was renamed to Open Source Technology Group (OSTG) in 2004.
VA Software sold Animation Factory to Jupitermedia Corporation on 27 December 2005, and SourceForge Enterprise Edition to CollabNet
on 24 April 2007.
VA Software changed its name to SourceForge Inc. and merged with OSTG on 24 May 2007; eliminating OSTG as a separate entity.
Scott Kauffman
was nominated as President and CEO of SourceForge on 4 December 2008. Robert M. Neumeister, Jr., Chairman of the Board of Directors of SourceForge, described Kauffman as having "the level of energy and vision that we believe will help build SourceForge into a major Internet company. He brings more than 20 years of executive experience in digital entertainment and consumer-facing Internet brands. The team is extremely excited to be adding an individual with such rock-solid leadership skills and experience."
On 5 January 2009, Scott Kauffman was appointed President and CEO of SourceForge, Inc.
GeekNet President and CEO Scott Kauffman resigned on 4 August 2010. He was replaced by Executive Chairman Kenneth Langone. On 10 August, the company terminated the employment of Jason Baird, the Company’s Chief Operations Officer, and Michael Rudolph, the Company’s Chief Marketing Officer, both effective 31 August 2010. It also terminated Jay Seirmarco, the Company’s Chief Technology Officer, effective 30 September 2010.
Effective 5 August 2010, Geek.net changed their NASDAQ stock symbol to GKNT.
Effective 31 Jan 2011, Geek.net appoints Matthew C. Blank, former CEO and Chairman of Showtime Networks as a member of its board of directors.
, Slashdot
, Freshmeat
and the e-commerce site ThinkGeek
.
Mountain View, California
-Downtown:Mountain View has a pedestrian-friendly downtown centered on Castro Street. The downtown area consists of the seven blocks of Castro Street from the Downtown Mountain View Station transit center in the north to the intersection with El Camino Real in the south...
company that owns several computer tech-related websites and the online retailer ThinkGeek
ThinkGeek
ThinkGeek is an American online retailer that caters to computer enthusiasts and other "geeky" social groups. Their merchandise includes clothing, electronic and scientific gadgets, unusual computer peripherals, office toys, pet toys, child toys, and caffeinated drinks and candy...
. Formerly known as VA Research, VA Linux Systems, VA Software, and SourceForge, Inc., it was founded in 1993.
VA Research
VA Research was founded in November 1993 by StanfordStanford University
The Leland Stanford Junior University, commonly referred to as Stanford University or Stanford, is a private research university on an campus located near Palo Alto, California. It is situated in the northwestern Santa Clara Valley on the San Francisco Peninsula, approximately northwest of San...
graduate student Larry Augustin
Larry Augustin
Larry Augustin is CEO of SugarCRM and is a former venture capitalist and the co-founder and former chairman of VA Software, now known as Geeknet. He founded VA Research, the predecessor to that company, in 1993 while a Ph.D...
and James Vera. Augustin was a Stanford colleague of Jerry Yang and David Filo
David Filo
David Filo is an American businessman and the co-founder of Yahoo! with Jerry Yang.Until the company decided to switch to PHP, his Filo Server Program, written in the C programming language, was the server-side scripting software used to dynamically serve variable web pages, called Filo Server...
, the founders of Yahoo!
Yahoo!
Yahoo! Inc. is an American multinational internet corporation headquartered in Sunnyvale, California, United States. The company is perhaps best known for its web portal, search engine , Yahoo! Directory, Yahoo! Mail, Yahoo! News, Yahoo! Groups, Yahoo! Answers, advertising, online mapping ,...
. VA Research built and sold personal computer
Personal computer
A personal computer is any general-purpose computer whose size, capabilities, and original sales price make it useful for individuals, and which is intended to be operated directly by an end-user with no intervening computer operator...
systems with the Linux
Linux
Linux is a Unix-like computer operating system assembled under the model of free and open source software development and distribution. The defining component of any Linux system is the Linux kernel, an operating system kernel first released October 5, 1991 by Linus Torvalds...
operating system installed, as an alternative to more expensive Unix
Unix
Unix is a multitasking, multi-user computer operating system originally developed in 1969 by a group of AT&T employees at Bell Labs, including Ken Thompson, Dennis Ritchie, Brian Kernighan, Douglas McIlroy, and Joe Ossanna...
workstations available at the time. At the time they started operations, they were one of the first computer vendors to offer Linux as a pre-installed operating system. During its initial years of operation, the business was profitable and grew quickly, with over $100 million in sales and a 10-percent profit margin in 1998. It was the largest vendor of pre-installed Linux computers, having approximately 20 percent of the Linux hardware market.
In October 1998, the company received investments of $5.4 million ($ million adjusted for inflation) from Intel and Sequoia Capital
Sequoia Capital
Sequoia Capital is a Californian venture capital firm located on Sand Hill Road in Menlo Park, California. The Wall Street Journal has called Sequoia Capital "one of the highest-caliber venture firms", and noted that it is "one of Silicon Valley's most influential venture-capital firms"...
.
In the spring of 1999, VA Research purchased Enlightenment Solutions, marketing company Electric Lichen L.L.C., and VA's top competitor, Linux Hardware Solutions. That year, VA Research also won a business-plan competition for the right to operate the linux.com
Linux.com
Linux.com is the name of a website owned by the Linux Foundation. The site is currently a central source for Linux information, software, documentation and answers across the server, desktop/netbook, mobile, and embedded areas. Linux.com offers free Linux tutorials, news and blogs, discussion...
domain. It was rumored that Microsoft and other bidders (Compaq, Red Hat, and HP) had offered more cash for the domain, but lacked detailed plans for its use. In May 1999, VA created a Linux Labs division, hiring former linux.com domain holder and programmer Fred van Kempen, and programmers Jon "maddog" Hall, Geoff "Mandrake" Harrison, and San "nettwerk" Mehat. VA began porting Linux to the new IA-64 processor architecture in earnest. Intel and Sequoia, along with Silicon Graphics
Silicon Graphics
Silicon Graphics, Inc. was a manufacturer of high-performance computing solutions, including computer hardware and software, founded in 1981 by Jim Clark...
and other investors, added an additional $25 million ($ million adjusted for inflation) investment in June 1999. By then, VA had also begun to make plans to change its name to VA Linux Systems and conduct an initial public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
of its stock.
Initial public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
(IPO) on 9 December 1999, under the stock symbol LNUX. The IPO offered shares at $30, but the traders held back the opening trade until the bids hit $299. The stock popped up to $320 later in the day, and closed its first day of trading at $239.25—a 698-percent return on investment. However, this high-flying success was short-lived, and within a year the stock was selling at well below the initial offer price. , this was still the most successful IPO of all time. The stock price reached an intra-day peak of 54 cents on 24 July 2002. It then soared more than 1,000 percent to an intra-day high of $6.38 on 11 September 2003. As of 26 November 2006, the stock closed at $4.64.
Many authors of free software
Free software
Free software, software libre or libre software is software that can be used, studied, and modified without restriction, and which can be copied and redistributed in modified or unmodified form either without restriction, or with restrictions that only ensure that further recipients can also do...
were invited to buy shares at the initial price offering as part of a "friends and family" deal.
Due to the immense difference between the IPO offering price and the opening price, VA Linux did not actually raise much capital in the offering, and the stock price sagged as investors realized that the company's revenue and profitability were not likely to justify the share price. On 3 February 2000, the company announced that it was acquiring Andover.net (which had recently conducted its own initial public offering). This acquisition gave VA Linux popular online media properties such as Slashdot
Slashdot
Slashdot is a technology-related news website owned by Geeknet, Inc. The site, which bills itself as "News for Nerds. Stuff that Matters", features user-submitted and ‑evaluated current affairs news stories about science- and technology-related topics. Each story has a comments section...
, Andover News Network, Freshmeat
Freshmeat
Freecode, formerly Freshmeat, is a website owned by Geeknet that allows computer users to keep track of the latest software releases and updates as well as write/read reviews and articles, send or receive comments to or from the author, and many other features...
, NewsForge, linux.com
Linux.com
Linux.com is the name of a website owned by the Linux Foundation. The site is currently a central source for Linux information, software, documentation and answers across the server, desktop/netbook, mobile, and embedded areas. Linux.com offers free Linux tutorials, news and blogs, discussion...
, Kuro5hin
Kuro5hin
Kuro5hin is a collaborative discussion website. Articles are created and submitted by Kuro5hin's users and submitted to queue for evaluation. Site members can vote for or against publishing an article and, once the article has reached a certain number of votes, it is then published to the site...
(until 2001), and a variety of online software development resources, as well as a stable of writers such as Rob Malda
Rob Malda
Rob Malda , also known as CmdrTaco, is founder and former editor-in-chief of the website Slashdot. He is a graduate of Hope College and Holland Christian High School....
, Robin Miller
Roblimo
Robin "Roblimo" Miller was the Editor in Chief of Open Source Technology Group, the company that owns Slashdot, SourceForge.net, freshmeat, Linux.com, NewsForge, and ThinkGeek from 2000 to 2008....
, Jack Bryar, Rod Amis, Jon Katz
Jon Katz
Jonathan Katz is a U.S. journalist, author, and snowballer. He is known for his contributions to the online magazine HotWired, the technology website Slashdot, the online news magazine Slate.com, and his series of crime novels, books on the geek subculture, and his books on dogs.-Journalism:Katz...
, and "CowboyNeal". Shortly after, all of Andover.net's assets were transferred to a new division of VA Linux called the Open Source Developers Network (OSDN).
The acquisition was controversial within the Linux community. Bryar, in particular, wrote multiple articles suggesting that most Linux-oriented businesses were poorly thought out. He cautioned that the excitement over Linux was little more than another Internet bubble. Nonetheless, this acquisition eventually allowed the company to shift its business model from Linux-based product sales to specialty media and software development support.
VA Software
VA Linux's original equipment and systems business model encountered stiff competition from other hardware vendors offering Linux as a pre-installed operating system, such as Dell. The company booked operating losses as a result. On 26 June 2001, VA Linux decided that they would leave the systems-hardware business and focus on software development. During the summer of 2001, all of the hardware-focused employees were dismissed as a result of this shift in the company's business model.On 6 December 2001, the company formally changed its name to VA Software, recognizing that the majority of their business was now software development and specialty news and information services. However, the company's Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
ese subsidiary still uses the name "VA Linux Systems Japan K.K." In January 2002, Sumitomo Corporation
Sumitomo Corporation
Sumitomo Corporation is one of the largest worldwide trading company , and is a diversified corporation. Sumitomo is headquartered in the Harumi Island Triton Square Office Tower Y in Chūō, Tokyo, Japan...
became the largest shareholder in VA Linux Systems Japan, and the Japanese subsidiary became independent of VA Software.
OSDN was renamed to Open Source Technology Group (OSTG) in 2004.
VA Software sold Animation Factory to Jupitermedia Corporation on 27 December 2005, and SourceForge Enterprise Edition to CollabNet
CollabNet
CollabNet is a company that sells application lifecycle management software for distributed development teams engaged in both enterprise and open source development.-History:...
on 24 April 2007.
SourceForge
Scott Kauffman
Scott Kauffman
Scott L. Kauffman is an American business manager.He was born in Princeton, New Jersey to Ellwood and Shirley Kauffman, and grew up with his sister Jane and brothers Geoffrey and Matthew. In 1973 he appeared briefly in Steven E...
was nominated as President and CEO of SourceForge on 4 December 2008. Robert M. Neumeister, Jr., Chairman of the Board of Directors of SourceForge, described Kauffman as having "the level of energy and vision that we believe will help build SourceForge into a major Internet company. He brings more than 20 years of executive experience in digital entertainment and consumer-facing Internet brands. The team is extremely excited to be adding an individual with such rock-solid leadership skills and experience."
On 5 January 2009, Scott Kauffman was appointed President and CEO of SourceForge, Inc.
Geeknet
SourceForge, Inc. became Geeknet, Inc. on 4 November 2009 by creating the latter company and merging SourceForge into it.GeekNet President and CEO Scott Kauffman resigned on 4 August 2010. He was replaced by Executive Chairman Kenneth Langone. On 10 August, the company terminated the employment of Jason Baird, the Company’s Chief Operations Officer, and Michael Rudolph, the Company’s Chief Marketing Officer, both effective 31 August 2010. It also terminated Jay Seirmarco, the Company’s Chief Technology Officer, effective 30 September 2010.
Effective 5 August 2010, Geek.net changed their NASDAQ stock symbol to GKNT.
Effective 31 Jan 2011, Geek.net appoints Matthew C. Blank, former CEO and Chairman of Showtime Networks as a member of its board of directors.
Operations
Geeknet operates SourceForge.netSourceForge.net
SourceForge is a web-based source code repository. It acts as a centralized location for software developers to control and manage open source software development. The website runs a version of SourceForge Enterprise Edition, forked from the last open-source version available...
, Slashdot
Slashdot
Slashdot is a technology-related news website owned by Geeknet, Inc. The site, which bills itself as "News for Nerds. Stuff that Matters", features user-submitted and ‑evaluated current affairs news stories about science- and technology-related topics. Each story has a comments section...
, Freshmeat
Freshmeat
Freecode, formerly Freshmeat, is a website owned by Geeknet that allows computer users to keep track of the latest software releases and updates as well as write/read reviews and articles, send or receive comments to or from the author, and many other features...
and the e-commerce site ThinkGeek
ThinkGeek
ThinkGeek is an American online retailer that caters to computer enthusiasts and other "geeky" social groups. Their merchandise includes clothing, electronic and scientific gadgets, unusual computer peripherals, office toys, pet toys, child toys, and caffeinated drinks and candy...
.
Earnings
On 21 February 2006, VA Software reported its first profitable quarter. Net income for the second fiscal quarter of 2006 stood at $10.5 million, or 17 cents per share, compared to a net loss of $702,000, or a penny a share, in the previous year's second quarter. Excluding one time gains from the sale of Animation Factory, VA's profit that quarter would have been $1.1 million, or 2 cents per share. VA followed this performance with two more consecutive profitable quarters, earning $1.1 million in the third quarter of 2006 and $700,000 in the fourth fiscal quarter of 2006, which ended on 31 July. VA ended the fiscal year with $51.9 million of cash, up from $36.6 million the previous year. The company remained profitable until the fourth quarter of 2007. Since then, with the exception of the fourth quarter of 2009, the company returned only money-losing quarters through May 2010.External links
- CNETCNETCNET is a tech media website that publishes news articles, blogs, and podcasts on technology and consumer electronics. Originally founded in 1994 by Halsey Minor and Shelby Bonnie, it was the flagship brand of CNET Networks and became a brand of CBS Interactive through CNET Networks' acquisition...
: VA Linux files IPO plans (9 October 1999) - SalonSalon.comSalon.com, part of Salon Media Group , often just called Salon, is an online liberal magazine, with content updated each weekday. Salon was founded by David Talbot and launched on November 20, 1995. It was the internet's first online-only commercial publication. The magazine focuses on U.S...
: Dissecting the VA Linux IPO (10 December 1999) - CNETCNETCNET is a tech media website that publishes news articles, blogs, and podcasts on technology and consumer electronics. Originally founded in 1994 by Halsey Minor and Shelby Bonnie, it was the flagship brand of CNET Networks and became a brand of CBS Interactive through CNET Networks' acquisition...
: VA Linux leaves hardware, lays off workers (27 June 2001) - Wordpress: VA Software reports first profits ever. 60-percent stock rise before the report, and 40-percent rise after. (23 February 2006)
- VA Linux Systems Japan K.K.
- Aservo - Distributor of SourceForge Enterprise Edition in Europe