Cloud Computing: Workday, ORCL, SAP Competitor, Files to Go Public

August 31, 2012 Off By David
Object Storage

Grazed from TechDaily. Author: Tiernan Ray.

Enterprise software vendor and cloud-computing pioneer Workday this afternoon filed with the Securities & Exchange Commission a prospectus for a highly-anticipated public offering of shares.

Workday, founded in early 2005, offers software that runs on its own managed data centers to provide corporate functions such as payroll processing, benefits management, and contract tracking. The company is going up against “cloud-based” offerings from Oracle (ORCL) and SAP AG (SAP), among others…

Workday reported $119 million in revenue in the sixth months ended in June, up from $55 million a year earlier, and a net loss of $47.3 million. By contrast, cloud computing poster child Salesforce.com (CRM), which has a partnership with Workday, and which is also a customer, had sales of a little over $2 billion in the most recently ended fiscal year.

Workday was founded by Dave Duffield, the founder of enterprise software vendor Peoplesoft, which was bought by Oracle in 2005 in a hostile takeover bid.