SuccessFactors Inc., a San Mateo, Calif.-based provider of on-demand performance and talent management software, raised nearly $108 million in its IPO. The company priced 10.79 million common shares at $10 per share ($8-$10 range), for an initial market cap of approximately $497 million. The company will trade on the NYSE Arca under ticker symbol SFX, while Morgan Stanley and Goldman Sachs served as co-lead underwriters.
Shareholders include Greylock Partners (31.8% pre-IPO stake), TPG Ventures (19.8%), Cardinal Ventures (9.1%), Canaan Partners (7.5%), Emergence Capital Partners (6.6%) and Granite Global Ventures (5.2%). www.successfactors.com