Workday Discloses Its Financials Ahead of IPO: Workday, the cloud-based HR company started by the guys who built PeopleSoft, is inching closer to going public.
The company filed to go public in July but took advantage of a provision in the regulations to postpone disclosing its financials. As it happens it lost $46.9 million in the six months ended on July 31 on revenues of $119.5 million, double its sales year-over-year. It lost $36 million in the same period last year.
It’s looking to raise at least $400 million, presumed to be a placeholder figure. It’s likely to be much bigger.
The start-up raised a total of $175 million since 2005, culminating last year with an $85 million round that valued it at a reportedly $2 billion.
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