Re/code reported that Jive, a maker of online tools that help workers collaborate on projects, is using Silicon Valley dealmakers to find a buyer. The report noted that Oracle, SAP and Workday all said “no,” to a deal.
Jive filed for a $100M IPO back in 2011, but the company has struggled since then as its stock has dropped nearly $20 per share in the past few years. It posted a net loss of $10.7 million last fiscal quarter and expects to post a net loss of as much as $32 million in 2014.
Jive is a direct competitor to Yammer, a company Microsoft swooped up for $1.2 billion in July 2012. One year later, Jive CEO Tony Zingale made headlines after he said Yammer’s business was “dead,” and Microsoft was the “place where innovation dies.”
There are a flurry of other companies in the arena of creating tools that help businesses become more efficient, from giants like Salesforce and IBM to smaller startups like Portland’s Jama Software and Seattle-based Smartsheet.
Jive started in Portland more than ten years ago before moving its headquarters to Palo Alto. The company still has its biggest office in Oregon, though, employing more than 250 in the Rose City. Its current market cap is about $615 million.