Enterprise HR and payroll management SaaS provider Workday is the latest to get caught up in the IPO frenzy. Citing anonymous sources, Bloomberg reported that the company has plans to raise $500 million in a public offering scheduled for next year.
“The company would file its plan in the first half and make its debut in the second half, said the people, who asked not to be identified because the plans aren’t public. Workday is likely to hire Allen & Co. to help with the sale, which would raise at least $200 million, the people said.”
Some of the other banks that may be considered are Morgan Stanley, Goldman Sachs and JPMorgan Chase according to these sources. They’ve also mentioned that Workday’s total capital raised to date stands somewhere close to $265 million, thanks to another $15 million it received in a recent funding round. Among of the investors who chipped in was Michael Dell.
Workday’s IPO update comes on the heel of a public offering filing by Gogo, seeking to raise $100 million. The company provides internet connectivity on nine of the ten airlines in North America, in addition to other services such as pay-per-view video streaming.
The gaming industry has been exposed to a lot of interest in going public as well. Rovio, the creator of the popular Angry Birds, may launch its IPO in Hong Kong rather than western stock exchanges. The reason is the immense growth almost all Asian tech markets have seen in the past few years, and 2013 is a good time frame to look out for.
The plans follow Zynga’s $1 billion IPO. That raised the company’s valuation to $7 billion, though its shares declined soon afterwards. The stock of social MMO maker Nexon also plummeted after their Dec. 15 IPO.