Tintri pulls its IPO plans the night before its debut

Mountain View, California-based Tintri Inc, a provider of storage management solutions, pulled its IPO the night before its schedule debut on the Nasdaq exchange. The company was planning to raise $109 million in the offering by selling 8.7 million shares between $10.50 and $12.50 per share. Tintri had raised more than $260 million in funding from such backers as Lightspeed Venture Partners, New Enterprise Associates, Menlo Ventures, Insight Venture Partners and Silver Lake Kraftwerk.