Hiring-software-maker Taleo revives plan for IPO - San Francisco Business Times:

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The recruitment software company had registerexd for an IPO with the SEC inMarcj 2004, but never went throughy with it as it awaited bette r market conditions. On May 2, the firm filerd an amendment to keep the registration actived and said it will probably go publicthis "We didn't want to go out into an economy that was not goingv to be receptive to a tech said CEO Michael Gregoire. "Ah IPO is a financing event andwe didn'ft need the cash. We thin 2005 will be the right time.
" Louis chairman of the board, handesd his CEO job in Marcg to Gregoire, someone who had managed 4,000 employees in PeopleSoft's globa consulting, education, customer service and hosting Gregoire had been with PeopleSoft until it was consumed by Oraclein January. Tetu is "demonstrating that he's very serious with the IPO" by bulkinf up Taleo's management team, said Lisa Rowan, a programj manager at In April, Taleo also brought on a new CFO, Divesjh Sisodraker, a former executive at , which was acquired by China's last "That time wasn't wasted," Gregoire said of the year delayin Taleo' IPO. "It was used to strengthen the company.
" Taleoo has indeed been growing strong. The 525-persohn San Francisco company formerly knowbn as has made several fresh acquisitions and boastws an enviable list of250 customers, including , and . The companyu reported 2003 revenueof $43.6 Gregoire said 2004 revenue is abourt $56 million and that the company is now at "Dozens and dozens of (electronic companies sprang up about five years ago when therwe was a big talent crunch," said Research Directo r Katherine Jones. "Then the recession hit and employers were gettinf ridof talent. Many of thosre companies vanished.
" Taleo, Jones said, was amongh the survivors that figured out how to help managers quickly cull out top candidates from reamsof And, unlike some others, Talelo delivered its software services online, so customers could opt in withour installing a shrink-wrap product and hosting loads of data. Taleo's softwaree matches words on resumes or applicationswin Taleo's database with job descriptions. And Taleo's software is so it begins to creatwe additional word correlations onits own. Personality assessmente and other tests can also be added to thescreening "We have a killer search with 24 million resumes," Gregoire said.
"We manage all that complexity for the Jones applaudedthe company's web-based subscription service. "I think it' an advantage to customers becausethey don't have to monket around with upgrades and that sort of Jones said. And the way Talepo and (competitor) Recruitmax tend to grow is byadding Taleo, which began in 1999 offering services to the white collar corporate market, expanded into hourly, temporaruy and smaller business sectors through a series of In October 2003, the company acquired , which helps companies such as , and fill temporary and service contract worker positions.
And in Taleo announced that it hadacquirerd , an on-demand staffing management solution for small and mid-sized organizations of 5,0009 employees or less.