Wednesday, March 16, 2011
Cornerstone OnDemand IPO Prices At $13 Per Share
Santa Monica-based Cornerstone OnDemand has priced its IPO at $13.00 per share, above its estimated offering range of between $9.00 and $11.00 per share, raising $136.5M in its initial public offering. The firm, which develops software-as-a-service for the human resources and employee talent management sector, is venture backed by Bay Partners, Bessemer Venture Partners, and Meritech Capital. The firm will debut on the NASDAQ Global Market tomorrow as CSOD. Cornerstone OnDemand is headed by Adam Miller.