Demandware

Demandware
Company typeSubsidiary
Industrye-commerce, mobile commerce, software, SaaS, cloud computing
Founded2004; 21 years ago (2004)
FounderStephan Schambach
Wayne Whitcomb
HeadquartersBurlington, Massachusetts
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)
Number of employees
1000+ (2015)[1]
ParentSalesforce
WebsiteSalesforce.com

Demandware is a software technology company headquartered in Burlington, Massachusetts, that provides a cloud-based unified e-commerce platform for retailers and brand manufacturers around the world.

Founded in 2004, Demandware was acquired by Salesforce in 2016 for $2.8B.[2] The company was subsequently renamed Salesforce Commerce Cloud.[3]

History

Pre-IPO (2004–2012)

Demandware was founded in February 2004 by Stephan Schambach[4] to provide a hosted service that would enable companies to develop and manage e-commerce websites, rather than building a site from scratch. The service was launched in the first quarter of 2005.[4] Schambach previously founded the early e-commerce company Intershop in 1992.[4] Seed money for Demandware was provided by venture capital firms General Catalyst Partners and North Bridge Venture Partners.[5][6]

Post-IPO (2012–present)

On March 15, 2012, Demandware began trading on the New York Stock Exchange,[7][8] raising $88 million in its initial public offering of $16 per share.[5] Following its IPO, shares were up more than 50% from the IPO price by the next morning.[9] In November 2013, Demandware announced an underwritten registered public offering.[10]

Locations

Demandware is headquartered in Burlington, Massachusetts.[11] The company also has offices in Salt Lake City, Utah (Tomax acquisition 2015); Deerfield Beach, Florida (Mainstreet Commerce acquisition 2014); the United Kingdom; France; Denmark; Jena and Munich in Germany; the Netherlands; Australia; Hong Kong; China; and Japan.[12][11]

References

  1. ^ Corporate Website, "Investor Relations FAQ" Archived 2013-12-21 at the Wayback Machine, Retrieved 2015-06-02.
  2. ^ Lunden, Ingrid (June 2016). "Salesforce buys Demandware for $2.8B, taking a big step into e-commerce". TechCrunch.
  3. ^ "Demandware is Now the Salesforce Commerce Cloud". Salesforce.
  4. ^ a b c Mike Ricciuti, “Start-up targets e-commerce on demand,” CNET, October 6, 2004.
  5. ^ a b Michael B. Farrell, “Patience pays off for investment firm,” Boston Globe, March 15, 2012.
  6. ^ “Demandware Secures $12 Million in Series B Funding,” VCgate, February 15, 2006.
  7. ^ Lynn Cowan, “New Vs. Old in IPO Action This Week,” The Wall Street Journal, March 12, 2012.
  8. ^ Evelyn M. Rusli, “Yelp Prices Its Shares for Offering at $15,” The New York Times, March 2, 2012.
  9. ^ Dan Gallagher, “Demandware shares jump more than 50% on IPO,” MarketWatch, March 15, 2012.
  10. ^ “Demandware Announces Pricing of Public Offering Of Common Stock,” Business Wire, November 19, 2013.
  11. ^ a b Chris Reidy, “Demandware establishes Munich office as its European HQ,” Boston.com, June 14, 2013.
  12. ^ Sara Castellanos, “Demandware plans Japan expansion, future acquisitions following Q1 2014 growth,” Boston Business Journal, May 6, 2014.