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Demandware

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Demandware
Company typeSubsidiary
Industrye-commerce, mobile commerce, software, SaaS, cloud computing
Founded2004
FounderStephan Schambach
Wayne Whitcomb
HeadquartersBurlington, MA
Area served
Worldwide
Key people
Thomas Ebling
(president, CEO & chairman)
Timothy Adams (CFO)
Jeffrey Barnett (COO)
Wayne Whitcomb (CTO)
Nick Camelio (CPO)
Philip Jefferson (Technology Operations)
Revenue$254 million (2016) [1]
Number of employees
1000+ (2015)[2]
ParentSalesforce
WebsiteSalesforce.com

Demandware is a software technology company headquartered in Burlington, Massachusetts that provides a cloud-based unified e-commerce platform with mobile, AI personalization, order management capabilities, and related services for B2C and B2B retailers and brand manufacturers around the world.

Founded in 2004, Demandware was acquired by Salesforce in 2016 for $2.8B.[3] The company was subsequently renamed Salesforce Commerce Cloud.[4]

History

Pre-IPO (2004–12)

Demandware was founded in 2004 by Stephan Schambach[5][6] to provide a hosted service that would enable companies to develop and manage easy-to-use, customizable e-commerce websites, rather than building a site from scratch. The service was launched in the first quarter of 2005.[5] Schambach previously founded the early e-commerce company Intershop in 1992.[5] Seed money for Demandware was provided by venture capital firms General Catalyst Partners and North Bridge Venture Partners.[7][8]

Post-IPO (2012–present)

On March 15, 2012, Demandware began trading on the New York Stock Exchange,[9][10] raising $88 million in its initial public offering of $16 per share.[7] Following its IPO, shares were up more than 50% from the IPO price by the next morning.[11] In November 2013, Demandware announced an underwritten registered public offering.[12]

Locations

Demandware is headquartered in Burlington, Massachusetts.[13] The company also has offices in Salt Lake City, Utah, Deerfield Beach, Florida, the United Kingdom, France, Denmark, Germany, The Netherlands, Australia, Hong Kong, China and Japan.[14][13]

Honors

  • After a three-year growth in revenue of 657% from 2008 to 2011, Demandware was ranked #563 on Inc. magazine's Inc. 5000 list in 2012.[15]
  • Ranked 19th on Forbes' list of the most highly valued venture-backed tech IPOs of 2012, based on company value.[16]
  • One of Forbes' top five tech stock picks for 2013.[17]
  • Ranked 9th in the e-commerce platform category of the 2014 Internet Retailer Top Tech Guide.[18]

References

  1. ^ https://www.forbes.com/sites/greatspeculations/2016/06/02/salesforce-com-overpays-big-time-for-demandware-acquisition/#1fa7e2e254d8
  2. ^ Corporate Website, "Investor Relations FAQ" Archived 2013-12-21 at the Wayback Machine, Retrieved 2015-06-02.
  3. ^ Lunden, Ingrid. "Salesforce buys Demandware for $2.8B, taking a big step into e-commerce". TechCrunch.
  4. ^ "Demandware is Now the Salesforce Commerce Cloud". Salesforce.
  5. ^ a b c Mike Ricciuti, “Start-up targets e-commerce on demand,” CNET, October 6, 2004.
  6. ^ Michael Skok, “Founders Can’t Scale: Fact or Fiction?” Forbes, May 9, 2014.
  7. ^ a b Michael B. Farrell, “Patience pays off for investment firm,” Boston Globe, March 15, 2012.
  8. ^ “Demandware Secures $12 Million in Series B Funding,” VCgate, February 15, 2006.
  9. ^ Lynn Cowan, “New Vs. Old in IPO Action This Week,” The Wall Street Journal, March 12, 2012.
  10. ^ Evelyn M. Rusli, “Yelp Prices Its Shares for Offering at $15,” The New York Times, March 2, 2012.
  11. ^ Dan Gallagher, “Demandware shares jump more than 50% on IPO,” MarketWatch, March 15, 2012.
  12. ^ “Demandware Announces Pricing of Public Offering Of Common Stock,” Business Wire, November 19, 2013.
  13. ^ a b Chris Reidy, “Demandware establishes Munich office as its European HQ,” Boston.com, June 14, 2013.
  14. ^ Sara Castellanos, “Demandware plans Japan expansion, future acquisitions following Q1 2014 growth,” Boston Business Journal, May 6, 2014.
  15. ^ Demandware profile, Inc. Accessed September 7, 2014.
  16. ^ Tomio Geron, “The Top Tech IPOs Of 2012 And The Venture Capitalists Who Invested,” Forbes, January 3, 2013.
  17. ^ Canaccord Genuity, “Top Tech Picks for 2013,” Forbes, January 8, 2013.
  18. ^ Amy Dusto, “Demandware buys order management company Mainstreet Commerce,” Internetretailer.com, January 23, 2014.
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