Jive Software is kicking around the idea of an initial public offering, but it’s big goal is to get you to set up a social network for your company. And, it thinks it can push past the likes of Salesforce.com along the way.
Jive Software has been around for 10 years, and it has big banks on the line to manage its IPO: Morgan Stanely, Goldman Sachs, Citigroup and UBS. Depending on market conditions, the company may even go under the gavel this year.
The pot of gold at the end of this corporate social media rainbow is far from trivial. According to a Bloomberg report, Gartner sees the corporate social media market growing an astounding 60 per cent over last year and reaching $1 bn in 2012. The market is crowded though. Along with Salesforce and Jive, more than 100 players are looking for a piece of this market.
Interestingly (insanely?), Jive could hit a valuation of $1 bn when it goes public, and Bloomberg says the company could possibly put up a stake of 10 per cent to 20 per cent.
Jive is backed by Sequoia Capital and Kleiner Perkins Caufield & Byers, two big names in the tech venture capital space. The company has raised $57 mn in venture money along the way, and Gartner estimates that it did $70 mn in revenues last year.
Companies using Jive include NetApp, Pizza Hut (part of Yum! Brands), Nike and Cisco.
Source: Bloomberg News