#vast-data

#vast-data

NetApp has filed a federal lawsuit against former Chief Technology Officer Jón Thorgrímur Stefánsson. The company alleges that during his employment, he used confidential information to establish a competing startup, which was acquired by rival VAST Data shortly after his departure. According to NetApp, the fact that VAST Data bought the startup Red Stapler shortly after its founding does not change the fact that VAST is not accused of involvement. The claims focus exclusively on the actions of Stefánsson and a few former colleagues.

VAST Data is in discussions for financing that could elevate its valuation to $30 billion, positioning it among the top valuable AI startups.