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In what looks to be a banner year for IPO filings for Southern California, Santa Monica-based CornerstoneOnDemand filed for an IPO this morning, saying that it is looking to raise up to $115M in an IPO. According to the S-1, the firm had a net loss of $8.3M The firm has not yet specified an exchange it plans to list on.
The firm, which is headed by Adam Miller, also updated its financials, saying it had a net loss of $31.39M on revenues of $32.57M for the nine months ended September 30, 2010. CornerstoneOnDemand is backed by Bay Partners, Bessemer Venture Partners, and Meritech Capital. CornerstoneOnDemand filed for an IPO in September.
The firm's latest S-1 shows that the firm had revenues of $32.572M for the nine months ended September 30th, and had a net loss of $31.4M, due to an accounting charge of $24.0M CornerstoneOnDemand filed for an IPO in September. due to the change in the fair value of its preferred stock warrant liabilities. in revenues.
This method was perfected by Gil Elbaz and his team at Applied Semantics in LA and in what some have called “ the most important acquisition ever made by Google ” they acquired the company for $102 million before Google had even IPO’d. ”).
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