/// Workday Files for a $400 Million IPO

August 30, 2012  |  All Things Digital


Workday, the fast-growing cloud software company, has filed for a $400 million IPO, a public debut that will likely become one of the most-watched tech offerings in the pipeline. In a document filed with the Securities and Exchange Commission today, the company said that the bulk of the proceeds will go toward working capital and other general corporate purposes. Underwriters include Morgan Stanley, Allen & Co., Cowen and Co., Pacific Crest Securities, Canaccord Genuity, Wells Fargo Securities, JMP Securities, J.P. Morgan and Goldman Sachs & Co. The seven-year-old company, which has 1,450 employees, says it has seen tremendous growth for its enterprise resource management software. Over the past three years, the company’s revenue has skyrocketed, increasing 400 percent to $134.4 million. And in the first six months of 2012 it has already booked $119.5 million in revenues. However, the company has a history of losses. In the year ended Jan. 31, it lost $80 million. In the prior year (which is slightly different, because the company changed its fiscal calendar), Workday lost $56.2 million for the year ended Dec

Read more from the original source:
Workday Files for a $400 Million IPO



Leave a Reply