Jeff Bezos-backed Workday soars in IPO, now valued more than rival Concur

Workday’s team on the NYSE

Workday, a Pleasanton, California-based company that specializes in cloud-based payroll, financial management and employee expense management, is soaring in its initial public offering today. The company, which priced the IPO at $28 under the ticker WDAY, is now trading around $47 per share.

The competitor to Redmond-based Concur Technologies is backed by Amazon.com co-founder Jeff Bezos, Greylock, NEA and others who’ve pumped more than $250 million into the company. Shares of Concur are trading up today at about $68 per share, giving the maker of travel and entertainment expense management software a market value of $3.8 billion.

Workday, which employed 1,452 people at the end of July, lost $26 million on revenues of $62.7 million during the second quarter. It raised $637 million in the IPO, giving it a market value of about $4.5 billion right off the bat.

Here’s the management team at Workday ringing the opening bell today on the New York Stock Exchange.

  • Guest

    Congrats to Workday and to Mr Bezos on the big IPO!

  • Matt M

    Congrats to the Workday team. Let’s hope Apptio follows in their footsteps down the road.

  • Jennifer Mark

    Congratulations to the whole team for the great achievement.
    Preferred way for the work schedules is with the absolute work schedules
    management.

    Every one knows that a better task management often
    manages well enough the official procedural to go with the form. In our
    company we focus mainly on the task management and gives it the highest
    priority. If the tasks gets managed on priority basis then nothing is
    gonna restrict the the overall process to move ahead smoothly.

    We
    have been using task management tools from Replicon –
    http://www.replicon.com/olp/task-management-software.aspx for a better
    management as that particular tool is online web based and it is
    featured with the user friendly interface and has managed well enough to
    beat the other such competitive tools.