IPO News Archive
Jive Software files for a much anticipated IPO
Jive Software, which provides a social networking platform for enterprises that engages employees, customers and partners, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering. The company's flagship Jive Engage Platform product had 635 customers, including Hewlett-Packard, SAP, T-Mobile and UBS, and over 15 million users as of June 30, 2011. Jive is growing rapidly, recording $34 million in revenue for the six months ended June 30, 2011, an increase of 76% over the year-ago period, and booking $42 million in billings, an increase of 59%. However, it is unprofitable, reporting a net loss of $31 million for 1H11, and does not expect to be profitable in the foreseeable future. In its SEC filing, Jive cites salesforce.com, Microsoft and IBM as competitors. The Palo Alto, CA-based company, which was founded in 2001, plans to list on the under the symbol JIVE. Morgan Stanley and Goldman, Sachs & Co. are the lead underwriters on the deal. No pricing terms were disclosed.