Vendor update day - Part II

August 13th, 2007 at 11:01am David Bush - Iasta

I ran across this article a few days ago which mentions Ketera and their growth plans. Burton was quoted with:

Another example is Santa Clara, California-based Ketera, which sells on-demand spend-management software. The company is preparing to go public in about a year, said CEO Burton Goldfield. It’s adopting the GAAP accounting method for revenues and bookings, trying to broaden distribution channels, focusing on partners, and investing globally in the areas of public and analyst relations. Seeing its peers go public affects Ketera in two ways, Mr. Goldfield said.

“It gives us a definitive benchmark of valuations and the financial makeup of these companies,” he said. “It’s very inspirational for us to understand that we stay focused on the market and [on] delivering business results. We can follow suit.”

I know Burton is very sharp, so this is not surprising, as he has had the metal to the pedal for over a year now. Plus, I doubt Kleiner Perkins is going to be satisfied with a 20% return. With the rumors of Emptoris also going public, this is good news for the whole supply management marketplace. Personally, I have no interest in being public and all the extra overhead that comes with that, but I am glad to see others pursuing the effort.

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Entry Filed under: General, e-Sourcing Marketplace