Enterprise Software Pro Workday Blows Up in Public Debut
October 15, 2012
Things just got better and better for Workday leading up to the HR software company's IPO. The company boosted its proposed price range to $24 to $26 from $21 to $24, then ended up pricing above that at $28, valuing the company at over $5 billion. Workday raised a formidable $637 million at that share price by offering 22.8 million shares, making it the biggest VC-backed IPO since Facebook. And that's not all—shares jumped up 74% to close at $48.69 on Friday. Greylock Partners still holds a 10.9% stake in the company, and New Enterprise Associates' is 10%. All in all, VCs poured over $200 million into the company between a 2005 Series A round and a 2011 Series F round.