News of the Week - August 1, 2008 - Taleo, Workday, Trovix and More…
News of the week for August 1, 2008…
- Taleo posts another strong quarter and proves the SaaS model can be profitable in HCM. Financial analyst show support by trading up the stock 13% today.
- Workday announces its 50th customer. From what I understand, the company is surpassing all the milestones and timelines the team had previously set at PeopleSoft.
- Monster acquires Trovix for $72.5 million. Congrats to the Trovix team. The move from eRecruiting to advanced job search really paid off. When I build and sell a company, I am going straight to Monster to exit.
- SumTotal also announced earnings. Although the company is showing strong progress in its performance business (up 100%) and their SaaS offering, the core learning business remains flat. Stock down 11% for the week.
- In the biggest talent management news of the week, the Red Sox finally traded Manny Ramirez. Looking forward to a great stretch run without him.
Keep your eyes peeled for interesting Google-related news next week.
August 1st, 2008
7 Comments Add your own
1. Bill Kutik | August 2nd, 2008 at 4:21 am
Let me add my congratulations to Trovix, achieving the Silicon Valley dream: going from start-up to riches in just about three years.
But Trovix was first and foremost a search company, which like Engenium before it (profitably sold to Kroll last year for use in forensic search), just happened to choose Recruiting as the application to prove its search capabilities.
Engenium licensed to ATS vendors (first to the late Vurv) while Trovix built out its own ATS.
2. David | August 3rd, 2008 at 5:17 am
I will predict the next three employment sites to be aquired.
linkedin
realmatch
indeed
All three of those were just added to the About.com top 10 employment site list
3. Gopi Padakandla | August 3rd, 2008 at 1:28 pm
In addition to Taleo, here is one more TM vendor that announced record revenues this week - http://www.stepstone.com/EN/news/article/466
4. Syris | August 3rd, 2008 at 8:33 pm
I really feel that referring to Taleo as “HCM” is a bit of a reach at this juncture. This earnings release represent results prior to the Vurv acquisition and lists a total of 3 Performance Management customers.
Taleo is a fantastic company with a great track record but they are really still a pure-play recruiting vendor who is at the very beginning of making inroads into the rest of the Talent Management arena.
5. Eileen | August 4th, 2008 at 2:14 pm
Taleo needs to figure out how to manage QA before a major release if they want the stock to continue to rise. I’ve had more issues with accessibility in the past month with Taleo than with any other ATS I’ve ever used. I work for a SaaS company and can only hope we don’t have an ounce of the bugs they have after a release.
And agreed, referring to it as an HCM is a bit of a stretch.
6. Romuald Restout | August 8th, 2008 at 3:37 pm
In response to Bill’s comment:
I just want to clarify that Engenium is still available for the Recruiting market as part of the Resume Mirror Search product line.
Various companies from all industries (including ATS vendors) are now using it in conjunction with their ERP (Oracle, Peoplesoft, SAP) or custom recruiting solution.
7. HCM Marketing Insight-er | August 28th, 2008 at 11:03 am
The Workday 50th customer release proves only that Workday excels at one thing as PeopleSoft previously did: marketing hype. They’ve taken 3 years to get to that 50th customer, with what appears to be scads more investment from Mr. Duffield than PSFT did in its first couple of years. Meanwhile, customers that Workday trots out as references (e.g., salesforce.com) give them weak props at best. If I only had 22 customers after 2 years of trying (as documented on Workday employee t-shirts at last year’s HR Tech Expo), I wouldn’t necessarily be trumpeting it. It proves only one thing: throwing unlimited investment resources at a new company will yield some lukewarm results, but doesn’t make you an industry leader…
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