The Next Hot Tech IPO Is Just About To Happen: Workday Finally Files

Dave Duffield
Dave Duffield

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In a season of hot enterprise IPOs, one of the most anticipated IPOs is finally rolling: Workday.Workday makes cloud software that helps enterprise do human resources functions. Its founders have a storied history with their arch-rival, Oracle.

Workday filed for a $400 million offering, though that’s only a placeholder amount.

The S1 document filed with the Security and Exchange Commission also doesn’t disclose how many shares it will sell or at what price or the founders plans to sell shares.

It did reveal the founders’ stakes. David Duffield has been granted 4.3 million shares in options at a price of $1.30 each. Aneel Bhusri has been granted 1.9 million shares at an option price of 65 cents a piece.

Workday was founded in 2005 by billionaire  shortly after Larry Ellison snapped up his company, PeopleSoft, in the nastiest hostile takeover in tech history.

It’s raised $175 in venture funds including investments from Michael Dell and Amazon’s Jeff Bezos and it was expected to go public this summer as early as June.