Jive Software

Last updated
Jive Software
Company type Subsidiary
Nasdaq: JIVE
Industry Collaboration software
Founded2001;23 years ago (2001)
Headquarters
Palo Alto, California
,
U.S.
Key people
 Elisa Steele (CEO, president)
Bryan LeBlanc (CFO)
Products Jive
Openfire
RevenueIncrease2.svg US$195.8 Million (2015)
Number of employees
Increase2.svg 658 (2014)
Parent Aurea Software, Inc.
Website www.jivesoftware.com

Jive Software, an Aurea Software company, is a provider of communication and collaboration software for business. [1]

Contents

Jive was headquartered in Palo Alto, California. [2] Founded in 2001, Jive maintains additional offices in Portland, OR; San Francisco, CA; New York, NY; Toronto, Ontario, Canada; Reading, UK; Frankfurt, Germany; São Paulo, Brazil; Tel Aviv, Israel; Melbourne, Australia; Hong Kong; Singapore, Tokyo and Paris. On June 12, 2017, Aurea completed the acquisition of Jive Software. [3]

History

Matt Tucker and Bill Lynch founded Jive in 2001 in Iowa; the company relocated to New York later that year. [4] In 2004, the company moved its headquarters to Portland, Oregon. [5]

At the end of 2009, Jive posted a record 85% percent increase in revenue [6] in addition to securing $12 million in Series B funding from Sequoia Capital. [7]

In 2011, Jive filed for a $100 million IPO. [8] The company had its IPO on December 12, 2011, on the NASDAQ stock exchange, raising $161.3 million from investors, around $60 million higher than was planned. [9]

On November 4, 2014, Tony Zingale announced his retirement as CEO and that he would take an extended role on the board as executive chairman. Jive appointed Elisa Steele president and to office of the CEO until the board found a replacement. [10]

On February 10, 2015, Elisa Steele was named CEO, [11] alongside her existing role as president. At the time, she was also named to the Jive board of directors.

By 2015, the company’s customer and revenue growth had declined to a market cap of $400 million. [12] Independent technology analysis firm, the Real Story Group, assessed the potential for a take over of the firm, postulating that Jive may represent "the canary in the coal mine," indicating a more systemic shift in the market for enterprise collaboration software. [13]

On February 7, 2017, during an earnings call, Jive announced that the past quarter (Q4,2016) was the first where the company had achieved GAAP operating profitability. [14]

Acquisitions

On April 6th, 2008, Jive acquired online calendar software company Jotlet for an undisclosed amount. [15]

On January 7, 2010, Jive acquired Colorado-based social monitoring company Filtrbox for $1.7 million in cash and common stock. [16]

In May 2011, Jive announced the acquisition of OffiSync, an Israeli startup that adds a collaboration layer to Microsoft Office applications. [17]

In November 2012, Jive announced the acquisition of technology companies Producteev and Meetings.io for $7.6 million and 460,000 shares of Jive stock. [18] [19] Producteev produces a cloud-based task management application with web, desktop, and mobile clients. Meetings.io provides a chat and video conferencing tool. In May 2013, the company announced the newly redesigned version of Producteev by Jive as a stand-alone free app to individuals and teams. Jive released the real-time communication features from Meetings.io over the course of 2013. These features were then broken out into a stand-alone app called Jive Chime. [20]

In May 2013, Jive announced the acquisition of CLARA and StreamOnce and detailed their integration in the Jive Platform. The integration of CLARA's Jive Resonata product brings community analytics to the platform and allows users to measure the reach, sentiment and influence of their work, and use predictive analysis to anticipate customer behavior.[ citation needed ]

Acquisition by Aurea

On May 1, 2017, Jive announced that it had entered "into definitive agreement to become part of the Aurea family of companies for $462 million in cash." [21] While this deal was mostly seen as a win for investors, some viewed it as a "fire sale", noting that investors lost millions. [22]

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References

  1. ↑ Heather Clancy. "Jive Software chants workplace collaboration mantra" . Retrieved 2016-11-17.
  2. ↑ Rogoway, Mike (May 18, 2010). "Jive Software makes it official: HQ now in Palo Alto". The Oregonian . Portland, Oregon. Retrieved August 14, 2013.
  3. ↑ "Collaboration software company Jive to be acquired by Aurea for $462 million". Techcrunch. 1 May 2017.
  4. ↑ Rogoway, Mike (2017-05-01). "Jive Software sells for $462 million". OregonLive. Retrieved 2022-04-14.
  5. ↑ Rogoway, Mike (August 11, 2013). "Jive keeps swinging: New strategies are in works to lift the onetime Portland-based software company to the next level". The Sunday Oregonian . pp. D1, D3. Retrieved August 14, 2013.
  6. ↑ "Jive Software Grows Up". New York Times. 2010-01-11. Retrieved 2010-01-11.
  7. ↑ "Portland's Jive Software secures another $12 million in venture capital from Sequoia". Tech Vibes. Retrieved 2009-10-09.
  8. ↑ "Jive Software Files For $100 Million IPO, Does Not Expect Profits In Near Future". San Francisco Chronicle . Business Insider. August 24, 2011. Retrieved August 24, 2011.
  9. ↑ Ari Levy (13 December 2011). "Jive Software Raises $161.3 Million in Initial Public Offering". Bloomberg News .
  10. ↑ Hesseldahl, Arik. "Tony Zingale to Retire as Jive CEO, Elisa Steele Named President". recode.net. Retrieved 6 November 2014.
  11. ↑ Hesseldahl, Arik (February 10, 2015). "Jive Software Names Elisa Steele Permanent CEO".
  12. ↑ Kepes, Ben (3 June 2015). "As Jive Continues To Plummet, Is A Takeover In The Cards?". Forbes. Retrieved 4 July 2015.
  13. ↑ Kompella, Kashyap (19 May 2015). "What does the future hold for Jive Software and its customers?". Real Story Group. Retrieved 4 July 2015.
  14. ↑ "What Makes Jive, Jive". Jive Software. Archived from the original on 2017-07-13. Retrieved 2017-02-23.
  15. ↑ "Jive Software Releases Clearspace 2.0, Acquires Jotlet". Tech Crunch. Retrieved 2024-01-12.
  16. ↑ "Jive Software Acquires Social Media Monitoring Startup Filtrbox". Tech Crunch. Retrieved 2009-10-20.
  17. ↑ "Jive Buys Microsoft Office Collaboration Plugin OffiSync For Up To $30 Million". TechCrunch. Retrieved 2020-09-17.
  18. ↑ "Jive Software Acquires Meetings.io and Producteev To Enhance Social Platform With Real-Time Messaging And Task Management". TechCrunch. Retrieved 2022-04-14.
  19. ↑ Ludwig, Sean (2012-11-05). "Jive buys Meetings.io & Producteev to bolster social business apps". VentureBeat. Retrieved 2022-04-14.
  20. ↑ "Jive Software Acquires Meetings.io and Producteev To Enhance Social Platform With Real-Time Messaging And Task Management". TechCrunch. Retrieved 2020-09-17.
  21. ↑ "Jive Software Enters into Definitive Agreement to Become Part of the Aurea Family of Companies for $462 Million in Cash" (Press Release). Jive Software. 1 May 2017. Retrieved 2 May 2017.
  22. ↑ "Collaboration software company Jive to be acquired by Aurea for $462 million". TechCrunch. Retrieved 2018-10-05.
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