Workday, a a cloud-based human resources provider, has begun trading on the New York stock exchange, and it’s done so with a classic IPO pop.
Priced at $28 per share, it’s now going for ~$48, a 72% boost.
That sounds like great news for Workday founder David Duffield and venture backers Greylock Partners And New Enterprise Associates, but what it really means is that they, and Workday, left money on the table.
Still, it’s a better fate that the last IPO this big: Facebook’s.
Also, Duffield was already a billionaire thanks to his PeopleSoft days, so he’s probably feeling OK.
Business Insider Emails & Alerts
Site highlights each day to your inbox.