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Santa Monica-based CornerstoneOnDemand debuted on the markets Thursday in a strong showing, trading as high as $20.25 CornerstoneOnDemand was venture backed by Bay Partners, Bessemer Venture Partners, and Meritech Capital. after its IPO debut a $13.00 MaxLinear, Green Dot, and ReachLocal. READ MORE>>.
Santa Monica-based DemandMedia said late Tuesday evening that it has priced its IPO, as well as increased its IPO offering size, and will sell 8,900,000 shares of its common stock at $17.00 DemandMedia had initially filed for its IPO in August. per share, and above the initial 7,500,000 shares. Morgan Stnaley & Co.,
Companies participating in the event include Adly , CentralDesktop , CornerstoneOnDemand , Crash City Guides , DemandMedia , Glossi , GonnaBe , FastPay , FindTheBest , Mobile Roadie , PaeDae , Pricegrabber , Promojam , Scopely , SteelHouse , Vueplus , as well as Invested.in socalTECH is a media sponsor of the event).
Southern California has been very active in the IPO arena, with successful IPOs recently of CornerstoneOnDemand , DemandMedia , and Inphi Corp. Those firms include Boingo Wireless , Active Network , NewEgg , GameFly and Peregrine Semiconductor.
A number of other companies have filed but have yet to reach the markets, including Peregrine Semiconductor, DemandMedia, and CornerstoneOnDemand. PwC did not detail specific IPOs, however, Southern California's technology industry has seen its own share of IPOs this year, including RealD, Inphi, and Green Dot.
The report also tallied six companies having IPOs, the most since 2005; those firms included RealD, CornerstoneOnDemand, DemandMedia, ReachLocal and Inphi Corp. Among other major 2011 exits listed were Riot Games ($400 million) and HauteLook ($270 million).
The list of Southern California companies who have filed, have been rumored to file, or have successfully completed IPOs has gotten a little longer this morning, after Santa Monica-based CornerstoneOnDemand filed for an IPO.
156 CornerstoneOnDemand, Inc. Ashour 328 ACTIVE Network 231% San Diego Matt Landa 330 (mt) Media Temple 230% Culver City Demian Sellfors 346 MyLife.com 219% Los Angeles Jeffrey Tinsley 369 Endologix, Inc. Brown 438 Volcano Corporation 163% San Diego Scott Huennekens 445 DemandMedia, Inc. Frost, Ph.D.
Southern California has a large number of firms still in registration for an IPO, including GameFly, DemandMedia, Zogenix, CornerstoneOnDemand, and Nexsan, not to mention a number rumored but not yet filed.
At the Twiistup panel last week, there was a debate over whether big companies could be created here, which is ridiculous--DemandMedia is the latest example there, we've got CornerstoneOnDemand coming out soon, and there is no question there are market leading, large revenue companies coming out of Southern California.
DemandMedia hosted a welcoming opening party at the Vicerory, and Media Temple organized an amazing closing party at Cross Campus with aerialists, DJ, interactive displays - and people are still talking about the delicious food. He was named in a recent Forbes article as one of "12 Entrepreneurs That Are Changing LA Forever."
He built & IPOd DemandMedia. But many people forget that we have 2 relatively recent IPOs that are substantive companies: TrueCar (Upfront backed) & CornerstoneOnDemand. He built & sold iMall in Internet 1.0 for $565 million to Excite. He led and sold MySpace to Fox for $650 million.
Adam Miller – CornerstoneOnDemand. Founder and CEO since starting the company back in 1999, Miller has led Cornerstone through 11 years of consecutive growth. Richard Rosenblatt – DemandMedia. You might know DemandMedia better as the people behind Cracked, DailyPuppy, and GolfLink. I’d say yes.
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