, Inc., is an enterprise software
company headquartered in San Jose, California
, USA and founded in 1995.
Products and customers
The company is mainly known for both its content management system TeamSite
, used to create complex intranet
websites for enterprises and document management system WorkSite
used to store, index, organize and search documents and email.
Interwoven claims to have over 4,200 organizations as customers, including adidas
, Delta Air Lines
, DLA Piper
, Grant Thornton
, Hilton Hotels
, Hong Kong Trade and Development Council
, Optimost, Samsung
, Qantas Airways
, Virgin Mobile
, and White & Case
. A community of over 20,000 developers and over 300 partners enrich and extend Interwoven's offerings..
It claims to have created a network of system integration and marketing partners (including Accenture
) as well as development and technology partners (including Adobe
, RBRO Solutions
, SAP AG
and Sun Microsystems
) around its products.
Interwoven's main competitors in the content management
(CM) business include SDL Tridion
with its R5 product suite, FatWire
with its FatWire
Content Server solution, Vignette Corporation
with its Vignette
product suite, Open Text Corporation
(Livelink, supplemented with acquisitions of RedDot, IXOS, Hummingbird
(via Documentum acquisition
), IBM (via FileNet acquisition
), Oracle Corporation
(Oracle Content Management (via Stellent acquisition)
), Microsoft (SharePoint
) and Broadvision.
The ECM vendor space has drastically changed as larger Database providers such as EMC, Oracle, and IBM began acquiring independent ECM vendors starting with EMC's $1.7B USD purchase of Documentum. Interwoven, OpenText and Vignette remain the three largest independent ECM vendors with OpenText far outpacing the other two in terms of revenue and customer base.
Foundation to initial public offering
The company was founded in 1995 in California by Singaporean entrepreneur Peng T. Ong
, who was also Interwoven's first chairman. Peng was previously co-founder of Match.com
, and later went on to found Encentuate
. In its private startup phase the company was backed by Foundation Capital
, Draper Fisher Jurvetson
, Accel Partners
and other venture capital co-investors including Internet entrepreneur Gary Kremen
On October 8, 1999 Interwoven went public on NASDAQ at $17.00 per share with Credit Suisse First Boston as the lead underwriter of the offering.
In November 2001 the IPO and a follow-on public offering were challenged in a class-action lawsuit, based on the allegation that the official prospectus filed with the SEC contained false and misleading statements as it did not disclose connections between the underwriters and other investors and customers of Interwoven.
In the years of the dot-com bubble the company made news by offering huge hiring incentives, in order to compete for talented people with other startup companies in Silicon Valley
. At one point in early 2000, it promised to give new BMW Z3
sports cars to the next 20 new engineers coming to Interwoven and staying with the company for at least a year.
Notes and references