Workday, Inc.: Difference between revisions

Workday was founded in March 2005 and launched in November 2006.<ref>{{cite web|url=http://www.businessweek.com/print/magazine/content/06_46/b4009095.htm|title=Businessweek – Business News, Stock market & Financial Advice|work=Businessweek.com|access-date=4 November 2014}}</ref> Initially, it was funded by Duffield and venture capital firm [[Greylock Partners]]. In December 2008, Workday moved its headquarters from [[Walnut Creek, California]], to [[Pleasanton, California]], where PeopleSoft founder Duffield's prior company was located.<ref>{{cite news|last=Bing|first=Jeb|title=Duffield Is Back:PeopleSoft Founder Moves New Company to Pleasanton|url=http://www.pleasantonweekly.com/news/show_story.php?id=1025|newspaper=Pleasanton Weekly|date=5 December 2008|access-date=4 November 2014}}</ref><ref name=sfgate>{{cite news|last=Temple|first=James|title=Workday Inc. Is Moving to Pleasanton|url=http://www.sfgate.com/business/article/Workday-Inc-is-moving-to-Pleasanton-3182100.php|newspaper=San Francisco Chronicle|date=4 December 2008|access-date=4 November 2014}}</ref>▼

On February 6, 2008, Workday announced that it had reached a definitive agreement to purchase [[Cape Clear (software company)|Cape Clear Software.]]<ref>{{cite web|url=http://blogs.zdnet.com/SAAS/?p=448|title=Another ERP vendor buys into middleware ZDNet February 6, 2008|date=6 February 2008|work=ZDNet|access-date=4 November 2014}}</ref> In May 2008, Workday signed a large contract with [[Flextronics]] to provide human capital management software services.<ref>{{cite web|url=http://www.informationweek.com/news/services/saas/showArticle.jhtml?articleID=207603344|title=Workday Lands Software Industry's Biggest SaaS Deal|work=InformationWeek|access-date=4 November 2014}}</ref> Companies that have publicly disclosed contracts or deployments of Workday include [[Aviva]],<ref>[http://www.workday.com/resources/customer_case_studies/aviva.php] {{webarchive|url=https://web.archive.org/web/20111105082808/http://www.workday.com/resources/customer_case_studies/aviva.php|date=November 5, 2011}}</ref> [[Chiquita Brands]], and other firms.<ref>{{cite web|url=http://www.informationweek.com/news/services/saas/207603344|title=Workday Lands Software Industry's Biggest SaaS Deal|work=InformationWeek|access-date=4 November 2014}}</ref><ref>{{cite web|url=http://www.zdnet.com/blog/gardner/case-study-how-fairchild-semiconductor-leverages-the-workday-integration-cloud/4150|title=Case Study: How Fairchild Semiconductor leverages the Workday Integration Cloud|date=2 May 2011|work=ZDNet|access-date=4 November 2014}}</ref><ref>{{cite web|url=http://www.hrmagazine.co.uk/hro/news/1020454/rentokil-initial-implements-cloud-technology-manage-66|title=HR Magazine – Rentokil Initial implements cloud technology to manage data of 66,000 staff worldwide|publisher=Hrmagazine.co.uk|access-date=4 November 2014}}</ref><ref>{{cite web|url=http://www.zdnet.com/blog/btl/workday-launches-workday-14-wins-thomson-reuters-deal/55079|title=Workday launches Workday 14, wins Thomson Reuters deal|date=15 August 2011|work=ZDNet|access-date=4 November 2014}}</ref><ref>{{cite web|url=http://financial.tmcnet.com/topics/financial-technology/articles/192004-time-warner-deploys-workday-hr-payroll-solution.htm|title=Time Warner Deploys Workday HR and Payroll Solution|publisher=Financial.tmcnet.com|access-date=4 November 2014}}</ref>▼

On April 29, 2009, Workday announced that it secured $75&nbsp;million in funding led by [[New Enterprise Associates]]. Existing investors Greylock Partners and Workday CEO and co‑founder Dave Duffield also participated in the round.<ref name=barret>{{cite news|last=Barret|first=Victoria|title=Duffield Scores Biggest Round|url=https://www.forbes.com/2009/04/29/david-duffield-workday-technology-enteprise-tech-duffield.html|newspaper=Forbes|date=30 April 2009|access-date=13 April 2016}}</ref> On October 24, 2011, Workday announced $85&nbsp;million in new funding, bringing total capital raised to $250&nbsp;million. Investors in the latest round included [[T. Rowe Price]], [[Morgan Stanley]] Investment Management, [[Janus Capital Group|Janus]], and [[Bezos Expeditions]].<ref name=arik>{{cite news|last=Hesseldahl|first=Arik|title=Exclusive: Aneel Bhusri's Workday Raises $85 Million at a Whopping $2 Billion Valuation|url=http://allthingsd.com/20111024/aneel-bhusris-workday-raises-85-million-at-a-whopping-2-billion-valuation/?refcat=enterprise|newspaper=All Things D|date=24 October 2011|access-date=4 November 2014}}</ref> As of spring 2012, Workday had 310 customers, ranging from mid-sized businesses to [[Fortune 500|''Fortune'' 500]] companies.<ref>{{cite web|url=http://blogs.workday.com/Blog/workday_rising_becoming_part_of_a_unique_ecosystem.html|title=Workday Rising: Becoming Part of a Unique Customer Ecosystem|publisher=Blogs.workday.com|access-date=4 November 2014}}</ref>▼

In October 2012, Workday launched its [[initial public offering]] (IPO) on the [[New York Stock Exchange]] with [[ticker symbol]] WDAY. Its shares were priced at $28 and ended trading Friday, October 12, at $48.69, "propelled the start-up to a [[market capitalization]] of nearly $9.5&nbsp;billion including [[Exercise (options)|unexercised]] stock [[Option (finance)|option]]s." It sold 22.75&nbsp;million [[Preferred stock|Class&nbsp;A]] shares, raising $637&nbsp;million. The IPO raised more cash than any launch in the U.S.&nbsp;technology sector since [[Facebook IPO|Facebook]]'s $16&nbsp;billion IPO in May 2012. Its shares surged 74% in their IPO, underscoring investor interest in [[cloud computing]].<ref name=wsj />▼

In 2016 Workday launched a cloud-based [[Student information system]]<ref>{{Cite web |title=Workday's Full Student Information System Launches {{!}} Inside Higher Ed |url=https://www.insidehighered.com/quicktakes/2016/09/28/workdays-full-student-information-system-launches |access-date=2022-04-06 |website=www.insidehighered.com |language=en}}</ref> to augment its portfolio of financial management and human capital management products.▼

Workday has released 39 updates to its product line as of September, 2022, its most recent being "2022 R2". It releases a major update every 6 months, every September and March{{citation needed|date=April 2016}}▼

Workday operates data centers located in [[Ashburn, Virginia]]; [[Lithia Springs, Georgia]]; [[Portland, Oregon]]; [[Dublin, Ireland]]; [[Amsterdam, Netherlands]]; and also uses [[Amazon Web Service]]s for its primary computing infrastructure platforms in order to accelerate its worldwide expansion.<ref>“[https://www.workday.com/content/dam/web/en-us/documents/investor/workday-10-k-2014.pdf]”</ref>▼