Demandware was a cloud-based software technology company headquartered in Burlington, Massachusetts.
Founded in 2004, Demandware was acquired by Salesforce in 2016 for $2.8B, and was rebranded to Salesforce Commerce Cloud.
History Demandware was founded in February 2004 by Stephan SchambachMike Ricciuti, “Start-up targets e-commerce on demand,” CNET, October 6, 2004. to provide a hosted service to enable companies to develop and manage e-commerce websites. The service was launched in the first quarter of 2005. Schambach previously founded the early e-commerce company Intershop in 1992. Seed money for Demandware was provided by venture capital firms General Catalyst Partners and North Bridge Venture Partners.Michael B. Farrell, “Patience pays off for investment firm,” Boston Globe, March 15, 2012.“Demandware Secures $12 Million in Series B Funding,” VCgate, February 15, 2006.
2012 IPO On March 15, 2012, Demandware began trading on the New York Stock Exchange,Lynn Cowan, “New Vs. Old in IPO Action This Week,” The Wall Street Journal, March 12, 2012.Evelyn M. Rusli, “Yelp Prices Its Shares for Offering at $15,” The New York Times, March 2, 2012. raising $88 million in its initial public offering of $16 per share. Following its IPO, shares were up more than 50% from the IPO price by the next morning.Dan Gallagher, “Demandware shares jump more than 50% on IPO,” MarketWatch, March 15, 2012. In November 2013, Demandware announced an underwritten registered public offering.“Demandware Announces Pricing of Public Offering Of Common Stock,” Business Wire, November 19, 2013.
Acquisition On June 1, 2016, Salesforce signed a definitive agreement to acquire Demandware for $2.8 billion. The acquisition was completed on July 11th, 2016.
References
External links Demandware (English) website