Friday, August 31, 2012

Workday Files For IPO

Pleasanton-based Workday, the developer of cloud-based, enterprise applications for payroll, human resources, financial, and other management, filed for an IPO Thursday, saying that it is looking to raise up to $400M in its public offering. The IPO is being underwritten by Morgan Stanley, Goldman, Sachs & Co., Allen & Company, J.P. Morgan, Cowen and Company, JMP Securities, Pacific Crest Securities, Wells Fargo Securities, and Canaccord Genuity. Workday is venture backed by Greylock Partners and New Enterprise Associates. The firm reported a net loss of $46.9M on revenues of $119.52M for the six months ended July 31st.