NetApp, Inc. is an American data storage and data management services company headquartered in San Jose, California. It has ranked in the Fortune 500 from 2012 to 2021. Founded in 1992 with an initial public offering in 1995, NetApp offers cloud data services for managing applications and data both online and physically. NetApp was founded in 1992 by David Hitz, James Lau, and Michael Malcolm as Network Appliance, Inc. At the time, its major competitor was Auspex Systems. In 1994, NetApp received venture capital funding from Sequoia Capital. It had its initial public offering in 1995. NetApp thrived in the internet bubble years of the mid-1990s to 2001, during which the company grew to $1 billion in annual revenue. After the bubble burst, NetApp's revenues quickly declined to $800 million in its fiscal year 2002. Since then, the company's revenue has steadily climbed.