| April 19
April 19 Workday Inc, a business management
software company, has hired Goldman Sachs and Morgan Stanley to
lead its initial public offering later this year, according to
several sources familiar with the situation.
The offering, expected to be one of this year's largest tech
IPOs, follows the successful listings of other enterprise
software companies including Guidewire, Jive Software
Enterprise software companies are benefiting from increased
interest by businesses for services like cloud computing, which
allows users to access information through the Web rather than
through on-site servers.
Workday, based in Pleasanton, California, was co-founded by
David Duffield and Aneel Bhusri, former PeopleSoft executives
who left that company after its acquisition by Oracle Corp
(ORCL.O) in 2004. The company sells human resources and
financial management software to businesses.
Workday's revenue topped $300 million in 2011, according to
AllThingsD, and the company is estimated to be worth around $2
Workday has raised $250 million from venture capital firms
and other investors, including Greylock Partners, New Enterprise
Associates, T Rowe Price, Morgan Stanley Investment Management,
Janus Capital Group Inc (JNS.N) and Bezos Expeditions, the
personal investment entity of Amazon.com Inc (AMZN.O) CEO Jeff
Representatives for Workday, Goldman Sachs Group and
Morgan Stanley all declined comment.