Workday, the promising cloud-based HR and financial management start-up founded by the founder and former chief strategist of PeopleSoft David Duffield and Aneel Bhusri, has reportedly filed its S-1 paper to go public under a new law that will let it keep its financials under wraps until 21 days before its investor-fanning roadshow.
It’s IPO has been highly anticipated and could be glorious. Reuters, which broke the story, figures it could be the “largest market debut” since Facebook’s botched IPO in May.
Workday, which is subscription-based, is a lot more stable than Facebook.
The law it’s reportedly using is the so-called JOBS Act, short for the Jumpstart Our Business Startups Act, intended to help companies with less than a billion dollars in revenues get out.