Photo: Julie Bort/Business Insider
Oracle CEO Larry Ellison says that Oracle’s cloud business is growing largely at the expense of Workday, the new company founded by his old nemesis, Dave Duffield.Oracle launched its cloud, Fusion, in June with CRM apps that compete with Salesforce.com, ERP apps that compete with SAP, and human resources apps that take on WorkDay.
It booked $230 million in revenue for its cloud business last quarter, CFO Safra Katz told Wall Street analysts in a conference today.
“We’re beating Workday in North America and almost shutting them out in Europe. It’s very exciting,” Ellison said.
Workday was founded in 2005 by billionaire Duffield shortly after Larry Ellison grabbed his company, PeopleSoft, in the nastiest hostile takeover in tech history. The stories of that takeover are legendary, like the one where Ellison allegedly threatened to shoot the dog of PeopleSoft’s CEO.
In October, Workday completed the most highly anticipated IPO in the enterprise tech world. It popped big on opening day and has continued to do well. It’s been trading well over $50 with a market cap of nearly $9 billion. Oracle’s stock is trading at around $32 a share with a market cap of about $159 billion.
In comparison, on November 29, Workday reported that its total revenues were $72.6 million, up 99% from the third quarter of fiscal 2012, with subscription revenues at $51.6 million, up 116% from year-ago period.
As for Salesforce, Marc Benioff studied at Ellison’s knee. But over the years, things have gotten testy between the two. With the launch of Oracle’s Fusion cloud earlier this, the two compete head to head now, too.
So it’s not surprising that Ellison told analysts today: “We’re getting good wins against Salesforce.”
We’ve reached out to Workday for comment.
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