Cornerstone_OnDemand_Inc.

Cornerstone OnDemand

Cornerstone OnDemand

American technology company

Cornerstone OnDemand, Inc. is a cloud-based people 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]

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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 companies 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 new owner will be taking the company private.[8]

Acquisitions

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See also

References

  1. [1]
    "Cornerstone OnDemand, Inc. 2020 Earnings Announcement". Cornerstone OnDemand. February 16, 2021. Retrieved June 24, 2021.
  2. [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. [3]
    "Cornerstone to buy talent management developer Saba". HR Executive. February 25, 2020. Retrieved June 26, 2020.
  4. [4]
    "The 25 Best Workplaces in the Bay Area". Fortune. Retrieved 2021-08-15.
  5. [5]
    "Clearlake Capital Completes Acquisition of Cornerstone OnDemand" (Press release). PR Newswire. October 19, 2021.
  6. [6]
    "A Cornerstone of the Cloud". Real Money. April 27, 2012. Retrieved June 26, 2020.
  7. [7]
    Markman, Jon (2012-04-27). "A Cornerstone of the Cloud". RealMoney. Retrieved 2021-08-15.
  8. [8]
    "In $5.2B deal, Cornerstone OnDemand goes private". SearchHRSoftware. Retrieved 2021-08-15.
  9. [9]
    "Clearlake Capital to Buy Cornerstone OnDemand for $5.2 Billion | Los Angeles Business Journal". labusinessjournal.com. 9 August 2021. Retrieved 2021-08-15.
  10. [10]
    "Cornerstone OnDemand reimagines the corporate training video experience". Los Angeles Times. 2017-06-06. Retrieved 2021-08-15.
  11. [11]
    Dignan, Larry. "Cornerstone OnDemand buys Saba for $1.4 billion". ZDNet. Retrieved 2021-08-15.
  12. [12]
    Kang, Jaewon (2017-11-09). "Silver Lake, LinkedIn Invest $300 Million in Software Provider Cornerstone OnDemand". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-08-15.
  13. [13]
    Savitz, Eric. "Cornerstone OnDemand Buys Sonar6 For $14 Million". Forbes. Retrieved 2021-08-15.
  14. [14]
    King, Rachel. "Cornerstone OnDemand nabs machine-learning big data platform Evolv". ZDNet. Retrieved 2021-08-15.
  15. [15]
    "Cornerstone OnDemand Acquires Evolv Inc. for $43 Million | Los Angeles Business Journal". labusinessjournal.com. 7 October 2014. Retrieved 2021-08-15.
  16. [16]
    "Cornerstone OnDemand Acquires Hiring Platform Workpop | Los Angeles Business Journal". labusinessjournal.com. 12 September 2018. Retrieved 2021-08-15.
  17. [17]
    "Cornerstone Buys Grovo Learning for $24M | Los Angeles Business Journal". labusinessjournal.com. 8 November 2018. Retrieved 2021-08-15.
  18. [18]
    "French startup Clustree acquired by Cornerstone OnDemand for $18.5 million". Tech.eu. 16 January 2020. Retrieved 2021-08-15.
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