Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
Iomega history
Iomega company history timeline
Iomega Corporation was adopted as the company's name in May 1980, and from that juncture forward the remarkable story of a small data storage company and its fitful growth was played out.
Sony introduces the first 3 ½-inch floppy drives and diskettes in 1981.
Able to hold 550 megabytes of pre-recorded data, CD-ROMs grow out of music Compact Disks (CDs). The CD was developed by Sony and Philips in 1982 for distributing music.
In 1983, the company went public, raising $21.7 million in an initial public offering, and generated $7 million in sales.
Announced in March 1984, IBM’s new 3480 cartridge tape system sought to replace the traditional reels of magnetic tape in the computer center with a 4-inch by 5-inch cartridge that held more information (200MB) and offered faster access to it.
Kucha was named Iomega's chief executive officer in January 1987 and immediately began cutting costs wherever possible, including a sharp reduction in the company's workforce from 1,350 to 750.
The company racked up $39 million in losses during the first nine months of 1987, a year in which sales plunged 30 percent to $89 million and all manufacturing was shut down for four months, as management contended with a cash flow crisis.
By mid-1988, after earning $8 million during the previous three quarters, Iomega once again looked healthy.
Kucha's replacement arrived in 1989, a 22-year veteran of Hewlett-Packard named Fred Wenninger.
IBM withdrew the system in 1989 but the new format caught on with other computer makers who began making 3480-compatible storage systems for several years after that, offering increased storage capacity in the same physical format.
During the company's fourth fiscal quarter, it recorded earnings of $41,000 on sales of $37.5 million, significantly less than the $4.3 million it earned from $39.4 million in sales during the fourth quarter of 1991.
The first sign of trouble emerged in late 1992 when Iomega's earnings slipped.
5, 1992, computer engineer Laurie Houts, 25, was found fatally strangled in her car near a California garbage dump.
By the end of 1993, Iomega's condition had worsened.
The DLT technology was purchased by Quantum in 1994, and nearly 20 years after its introduction, "SuperDLT" could hold up to 800 GB of data.
When the first wave of Iomega products marketed by Edwards hit the stores in 1995, the results were incredible.
In 1996, when the full weight of the Zip introduction could be measured, the increase was overwhelming.
If successful in this shrewd, yet difficult task, Edwards was capable of sparking successive years of annual sales increases that could dwarf the mind-bending sales growth recorded in 1996.
Unfortunately, the iOmega bubble soon burst, and the stock had plummeted 68.1 percent by May 22, 1997.
The problem even resulted in a lawsuit being filed against Iomega in 1998, as the “lifetime warranty” of these devices was felt to be misleading.
Hitachi purchased IBM's hard disk division in 2002, which included the Microdrive.
Bucking Japan’s culture of company loyalty, he sued his former employer demanding compensation, settling in 2006 for a one-time payment of ¥87m ($758,000).
In 2008 Iomega was acquired by EMC and it became a division of the storage giant offering a range of storage servers.
Since opening at the end of 2013, over 5,000 children have visited the Centre.
And then in 2013, EMC formed a joint venture with Chinese firm Lenovo, named LenovoEMC, that took over Iomega’s business.
While working on “Dora” in October 2018, Kilcher allegedly injured her neck and right shoulder, the insurance department said.11h agoMore Stories
Rate Iomega's efforts to communicate its history to employees.
Iomega jobs
Do you work at Iomega?
Does Iomega communicate its history to new hires?
Iomega competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Librato, Inc. | - | $13.0B | 63,800 | - |
| Drobo | 2004 | $10.2M | 50 | - |
| iZotope | 2001 | $24.2M | 224 | - |
| Imation | 1996 | $1.5B | 1,210 | - |
| Planar Systems | 1983 | $1.8B | 456 | 16 |
| Tessera | 1990 | $273.3M | 200 | - |
| Avrio Corporation | 2004 | $1.5M | 50 | - |
| Telxon Corp | 1969 | $430.0M | 1,549 | - |
| SunEdison Semiconductor | 1959 | $776.7M | 4,400 | - |
| Polaroid | 1937 | $1.5M | 3 | - |
Iomega history FAQs
Zippia gives an in-depth look into the details of Iomega, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Iomega. The employee data is based on information from people who have self-reported their past or current employments at Iomega. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Iomega. The data presented on this page does not represent the view of Iomega and its employees or that of Zippia.
Iomega may also be known as or be related to Iomega.