|By Business Wire||
|March 20, 2014 11:15 PM EDT||
Globoforce®, the leading provider of social recognition solutions, today announced that it has chosen to defer on its planned initial public offering.
“Despite receiving overwhelming interest in our initial public offering, we have decided to postpone our offering until market conditions are more favorable for our company and our customers,” said Eric Mosley, CEO of Globoforce. “Our growth objectives and market opportunity remain the same. Our goal hasn’t changed. We remain committed to extending our leadership position in the social recognition market and look forward to the months ahead.”
Globoforce is a leading provider of social recognition solutions, redefining how companies understand, manage, and motivate their employees. Innovative companies around the world use Globoforce’s cloud-based social recognition software to reveal the true performance and influence of every employee and strengthen company culture. With Globoforce, HR and business leaders can take a strategic approach to recognition programs that result in measurable benefits to the bottom line driven by increases in employee engagement, retention, and productivity. Globoforce is co-headquartered in Southborough, Massachusetts, and Dublin, Ireland.