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Cornerstone OnDemand Files For IPO

socalTECH

In what looks to be a banner year for IPO filings for Southern California, Santa Monica-based Cornerstone OnDemand filed for an IPO this morning, saying that it is looking to raise up to $115M in an IPO. According to the S-1, the firm had a net loss of $8.3M The firm has not yet specified an exchange it plans to list on.

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Cornerstone OnDemand Selects NASDAQ

socalTECH

The firm, which is headed by Adam Miller, also updated its financials, saying it had a net loss of $31.39M on revenues of $32.57M for the nine months ended September 30, 2010. Cornerstone OnDemand is backed by Bay Partners, Bessemer Venture Partners, and Meritech Capital. Cornerstone OnDemand filed for an IPO in September.

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Why Has LA Suddenly Gotten So Much Attention from VCs and Entrepreneurs?

Both Sides of the Table

But many people forget that we have 2 relatively recent IPOs that are substantive companies: TrueCar (Upfront backed) & Cornerstone OnDemand. But our best Internet software engineers have historically been exported on a net basis to the Bay Area. ”).