Estimated reading time: 0 minutes, 49 seconds

WORKDAY TO GO PUBLIC

Workday logoCloud vendor Workday has filed for an initial public offering. Founded in 2005, Workday has grown rapidly to more than 1,450 employees. Its results for the year ended January 31 included a loss of just under $80 million on revenue of $119.5 million.

But it is difficult to do a comparison to prior results because the company changed from a calendar year to the January yearend. An easier comparison is for the January first half for which the company had $119.5 million, more than double the $54.8 million last year’s corresponding period. It lost $47.3 million in the most recently ended half, compared to red ink of $36.3 million the prior year. While the company’s website shows a product line that includes financial management, it is known as an HRMS company, and that’s certainly the way NetSuite CEO Zach Nelson tries to pigeonhole the company when asked about Workday as a competitor, claiming Workday will have trouble adding financial features. Workday, whose founders came from PeopleSoft, competes principally with SAP and Oracle.

 

 

 

Read 1619 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.