With in a span of six years if you reach $5 billion valuation !!!! Its Huge....
Veeva Systems was founded in 2007. It provides enterprise level cloud based solutions to life-science
companies. Till Tuesday October 15' 2013 Veeva Systems had raised $7 million out of which $4 million came from Emergence Capital Partners. Came Wednesday and they flaunted the markets and analysts by raising $261 million.
Veeva was first supposed to come up at a price of $12 to $14. They increased it to $16 to $18 one week prior to IPO, but finally came up at $20. And the story of uprising doesn't ends here. The stock price raised to almost double on first day of trading. It reached an intra-day high of $39.64.
Now the question of the day is why so much fuss? The answer is - Its not fuss but Cloud services is the future of tomorrow. Whenever you check your mail via Gmail or upload a video on youtube or share your latest snap on facebook....you are using cloud. But the future is more bigger than this. From production systems and workloads, creating testing scenarios for complex systems cloud is every where to full fill business needs.
As per a latest report @Gartner, cloud services market is expected to reach $131 billion by end of 2013. Most of this market approximately 59% is concentrated in North America and cloud advertising is the largest sub-segment of Cloud services.
Veeva is just an opportunity gained. They provide cloud based enterprise solutions to life science industry. As life science companies mostly has a very long gestation period. So they need a large ...very large amount of data and solutions for sustaining.
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