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Member since 10/14/2012
HR Technology War Will Touch Thousands Of Organizations, Millions Of Employees
10/14/2012 / 6:29 pm #-24
Friday, 12 October 2012, was turning point in the world of HR technology.
The event was the highly anticipated initial public offering of a human resources technology firm called Workday became the biggest technology stock debut since Facebook.
Workday, a Pleasanton, Calif., based-maker of Web-based human-resources software, saw it’s stock rocket up 78% in its trading debut Friday, raising $637 million.
Workday sold 22.8 million shares at $28 each, then saw its stock end the day at $48.69. The IPO was the biggest technology stock offering since Facebook went public in May, raising $16 billion.
With Friday’s surge, Workday is valued at about $8 billion, or 40 times 12-month revenue.
Workday was founded in 2005 by co-CEOs Dave Duffield and Aneel Bhusri, both former top executives at human resources software pioneer PeopleSoft Inc.