Our Summary: Workday, founded in 2005 by Duffield and Bhusri, declared its intention to raise up to $400MM in an IPO (tentative price). Founders intend to retain dominant control. Workday had $120MM in revenues in first half 2012 doubling the revenue with losses growth of ~30% from a year ago. No date set on when Workday will start trading. Last fall company raised $85MM on $2B valuation.
Our comment: a little context according to InformationWeek:
Just this week, IBM acquired HCM vendor Kenexa for $1.3 billion. That deal comes in the wake of SAP’s $3.4 billion acquisition of SuccessFactors, Oracle’s $1.9 billion buy of Taleo, and Salesforce.com’s purchase of privately held Ryyple.
Workday Discloses Finances, Plans for Founders’ Control
by Ben Werthen
Originally published Aug 30, 2012
Workday, one of the most closely watched among a new crop of enteprise-technology start-ups, on Thursday opened the kimono on its inner workings on the way to an IPO and also disclosed that its founders are determined to keep control of the venture as a public company.
