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October 14, 2012 01:15 am GMT
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/Z2NVhcO3o60/
Workday IPO Shows Entrepreneurs What Matters: Market Size, Profitability And, Yes, Pricing
The successful public market debut of Workday this past week was breathtaking. The initial filing range of $21 - $24 was raised to $24 -$26 while the company was marketing on its roadshow. The IPO was ultimately priced at $28, and amazingly closed on its first day at $48.69, up 74% from the IPO price and up 116% from the mid-point of the initial filing range.As Ive discussed earlier, hot IPOs dont always perform well in the months and quarters after pricing, but public investors believe enough in Workday to have priced it at over a $7Bn valuation. Although most entrepreneurs dont have the benefit of having started one of the most successful enterprise software companies earlier in life like Workdays co-founders, David Duffield and Aneel Bhusri, did at PeopleSoft, there are several relevant lessons from Workdays IPO for all aspiring entrepreneurs. Here are three.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/Z2NVhcO3o60/
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