Cornerstone OnDemand, a global provider of a learning and talent management solution delivered as a software-as-a-service, announced terms for its IPO on Wednesday. The Santa Monica, CA-based company plans to raise $105 million by offering 10.5 million shares at a price range of $9 to $11. At the mid-point of the proposed range, Cornerstone OnDemand will command a market value of $514 million. Cornerstone OnDemand, which was founded in 1999 and booked $48 million in sales last year, plans to list on the NASDAQ under the symbol CSOD. Goldman, Sachs & Co. and Barclays Capital are the lead underwriters on the deal, which is expected to price during the week of March 14.
