Demandware
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Demandware was a cloud-based software technology company headquartered in Burlington, Massachusetts.
Founded in 2004, Demandware was acquired by Salesforce in 2016 for $2.8B, and became part of Salesforce Commerce Cloud.[1]
History
Demandware was founded in February 2004 by Stephan Schambach[2] to provide a hosted service to enable companies to develop and manage e-commerce websites. The service was launched in the first quarter of 2005.[2] Schambach previously founded the early e-commerce company Intershop in 1992.[2] Seed money for Demandware was provided by venture capital firms General Catalyst Partners and North Bridge Venture Partners.[3][4]
2012 IPO
On March 15, 2012, Demandware began trading on the New York Stock Exchange,[5][6] raising $88 million in its initial public offering of $16 per share.[3] Following its IPO, shares were up more than 50% from the IPO price by the next morning.[7] In November 2013, Demandware announced an underwritten registered public offering.[8]
Acquisition
On June 1, 2016, Salesforce signed a definitive agreement to acquire Demandware for $2.8 billion.[9] The acquisition was completed on July 11th, 2016.[9]
References
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- ↑ Script error: No such module "citation/CS1".
- ↑ a b c Mike Ricciuti, “Start-up targets e-commerce on demand,” CNET, October 6, 2004.
- ↑ a b Michael B. Farrell, “Patience pays off for investment firm,” Boston Globe, March 15, 2012.
- ↑ “Demandware Secures $12 Million in Series B Funding,” VCgate, February 15, 2006.
- ↑ Lynn Cowan, “New Vs. Old in IPO Action This Week,” The Wall Street Journal, March 12, 2012.
- ↑ Evelyn M. Rusli, “Yelp Prices Its Shares for Offering at $15,” The New York Times, March 2, 2012.
- ↑ Dan Gallagher, “Demandware shares jump more than 50% on IPO,” MarketWatch, March 15, 2012.
- ↑ “Demandware Announces Pricing of Public Offering Of Common Stock,” Business Wire, November 19, 2013.
- ↑ a b Script error: No such module "citation/CS1".
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External links
- Pages with script errors
- Salesforce
- Companies formerly listed on the New York Stock Exchange
- Providers of services to online companies
- American companies established in 2004
- Software companies established in 2004
- 2004 establishments in Massachusetts
- 2012 initial public offerings
- Software companies based in Massachusetts
- Technology companies based in the Boston area
- Companies based in Burlington, Massachusetts
- Cloud computing providers
- 2016 mergers and acquisitions
- Software companies of the United States