SugarCRM CEO hints at IPO for 2013

Summary:Is SugarCRM the next enterprise software giant to go public? The company's CEO says possibly yes.

SugarCRM could be the next hopeful to ride the wave of successful public outings for enterprise tech companies.

The Silicon Valley company's CEO, Larry Augustin, told Bloomberg this weekend that the company's goal is to be a public company, admitting that could happen as soon as 2013.

Before testing the IPO waters, Augustin did say he wants to make sure the company gets to the right size and “metrics.” After a cash-flow positive 2011, “we’ll burn some cash this year,” he said.

If SugarCRM plays its cards right, then an IPO within the next year seems reasonable. After all, tech companies focusing on the enterprise customer base appear to be hot commodities in the financial markets right now.

Workday is the most recent (and probably the most perfect as of now) example. The enterprise Software-as-a-Service provider stormed out of the gate on the New York Stock Exchange in early October and jumping from an IPO of $28 per share to $50 per share on day one .

It's the consumer tech companies that seem to be having more trouble.

For example, ahead of the Workday IPO in October, The Wall Street Journal briefly compared the high-profile but tumultuous public debuts of Facebook, Groupon and Zynga to enterprise specialists such as ServiceNow and Palo Alto Networks.

The lesson conveyed was that while these companies aren't as flashy and don't receive as much attention, maybe they should because this seems to be where the solid money is right now.

Topics: Enterprise Software, Tech Industry


Rachel King is a staff writer for CBS Interactive based in San Francisco, covering business and enterprise technology for ZDNet, CNET and SmartPlanet. She has previously worked for The Business Insider,, CNN's San Francisco bureau and the U.S. Department of State. Rachel has also written for, Irish Americ... Full Bio

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