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Cornerstone OnDemand

Cornerstone OnDemand, Inc. is a cloud-based development software provider and learning technology company.[3][4] The company was publicly traded on the NASDAQ stock exchange under the ticker symbol nasdaq: CSOD until it was acquired by private-equity firm Clearlake Capital in 2021.[5] Cornerstone started as CyberU, which provided online corporate training and education for adults, but eventually shifted focus to human resources software.[6]

History

Cornerstone OnDemand, Inc. was founded by Adam Miller, Perry Wallack and Steven Seymour in 1999 under the name CyberU and as a learning technology company.[7] It is based in Santa Monica, CA.[8]

The company went public in 2011 on NASDAQ and trades under the symbol CSOD.[9] As of 2017, more than 3000 companies were using the company's software.[10] With the purchase of Saba in 2020, the company expanded to 7000 users.[11]

In 2017, the company received a $300 million investment from Linkedin and Silver Lake.[12]

In August 2021, Cornerstone OnDemand Inc. was acquired by private equity firm Clearlake Capital Group in a deal estimated to be worth $5.2 billion. The company is now privately held.[8]

Acquisitions

See also

External links

References

  1. Cornerstone OnDemand, Inc. 2020 Earnings Announcement Cornerstone OnDemand, February 16, 2021, retrieved June 24, 2021^
  2. What it's Like Taking Over Cornerstone at a 'Bizarro Time' - a Q&A with Saunders and Miller Dot.LA, May 13, 2020, retrieved June 26, 2020^
  3. Cornerstone to buy talent management developer Saba HR Executive, February 25, 2020, retrieved June 26, 2020^
  4. The 25 Best Workplaces in the Bay Area Fortune, retrieved 2021-08-15^
  5. Clearlake Capital Completes Acquisition of Cornerstone OnDemand October 19, 2021, retrieved October 20, 2021^
  6. A Cornerstone of the Cloud Real Money, April 27, 2012, retrieved June 26, 2020^
  7. Jon Markman. A Cornerstone of the Cloud RealMoney, 2012-04-27, retrieved 2021-08-15^
  8. In $5.2B deal, Cornerstone OnDemand goes private SearchHRSoftware, retrieved 2021-08-15^
  9. Clearlake Capital to Buy Cornerstone OnDemand for $5.2 Billion labusinessjournal.com, 9 August 2021, retrieved 2021-08-15^
  10. Cornerstone OnDemand reimagines the corporate training video experience Los Angeles Times, 2017-06-06, retrieved 2021-08-15^
  11. Larry Dignan. Cornerstone OnDemand buys Saba for $1.4 billion ZDNet, retrieved 2021-08-15^
  12. Jaewon Kang. Silver Lake, LinkedIn Invest $300 Million in Software Provider Cornerstone OnDemand Wall Street Journal, 2017-11-09, retrieved 2021-08-15^
  13. Eric Savitz. Cornerstone OnDemand Buys Sonar6 For $14 Million Forbes, retrieved 2021-08-15^
  14. Rachel King. Cornerstone OnDemand nabs machine-learning big data platform Evolv ZDNet, retrieved 2021-08-15^
  15. Cornerstone OnDemand Acquires Evolv Inc. for $43 Million labusinessjournal.com, 7 October 2014, retrieved 2021-08-15^
  16. Cornerstone OnDemand Acquires Hiring Platform Workpop labusinessjournal.com, 12 September 2018, retrieved 2021-08-15^
  17. Cornerstone Buys Grovo Learning for $24M labusinessjournal.com, 8 November 2018, retrieved 2021-08-15^
  18. French startup Clustree acquired by Cornerstone OnDemand for $18.5 million Tech.eu, 16 January 2020, retrieved 2021-08-15^