In 2000, the stock value continued to climb, and Ariba's market capitalization was as high as $40 billion.
The company's stock more than tripled from the offering price on opening day, making the three-year-old company worth $4 billion. The pre-launch name was Procuresoft.Īriba went public in 1999 under Krach's leadership as CEO, and was one of the first business-to-business Internet companies to do an IPO. The name Ariba is a neologism, chosen by a branding company since it was easy to pronounce and spell. Company beginnings Īriba (now SAP Ariba) was founded in 1996 by Bobby Lent, Boris Putanec, Paul Touw, Rob Desantis, Ed Kinsey, Paul Hegarty, and Keith Krach on the idea of using the Internet to enable companies to facilitate and improve the procurement process, which was paper-based, labor-intensive, and inefficient for large corporations. It was acquired by German software maker SAP SE for $4.3 billion in 2012. Being part of the Ariba Network positions suppliers to attract more business from existing customers, as well as gain new ones.SAP Ariba is an American software and information technology services company located in Palo Alto, California. The Ariba Network offers suppliers a broad range of solutions and services to manage business transactions and content through a web browser or electronically through EDI/cXML. Companies around the world use the Ariba Network to simplify inter-enterprise commerce and enhance the results that they deliver.
Using the Ariba Network, businesses of all sizes can connect to their trading partners anywhere, at any time, from any application or device to buy, sell, and manage their cash more efficiently and effectively than ever before. Ariba combines industry-leading cloud-based applications with the world's largest web-based trading community to help companies discover and collaborate with a global network of partners. The Ariba Network is the world’s largest business commerce network.
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