# Workday — Capital Time Machine

Explore Workday’s documented private funding prices alongside its historical IPO offer, with share-conversion assumptions and sources.

Canonical citation: https://capitaltimemachine.com/private/workday

Dataset revision: ctm-research-2026-10-01; evidence register reviewed: 2026-09-19. Each observation retains its own check date.

Publisher: CapitalTimeMachine. Methodology: https://capitaltimemachine.com/methodology



## What this supports

Series E and F convert 1:1 into Class B; Class B converts 1:1 into Class A. Financing closings span multiple months. No additional split is applied.

## Limitations

- Historical research and hypothetical arithmetic, not live quotes, investment advice or an offer to invest.

- Company valuation changes are not shareholder returns. Financing, dilution, security rights and exit access matter.

- IPO offer-price marks are not realized sale proceeds; minimum investments and access are not established.

- User-entered prices and valuations are assumptions, not sourced observations. Fee and carry treatment is stated by each method; taxes and distributions are excluded.

- Selected surviving companies are not representative of private-market outcomes; investments may lose all value.

## Sourced observations

### WDAY-E — Series E preferred issuance

Value: 3.30 USD; scope: per_share_issuance_price

Date: 2012-01-31; precision: day; role: historical_table_snapshot; actual investment date: not established

Security: Series E preferred; share basis: as_reported_reviewed_no_additional_split

Verification: primary_verified; checked: 2026-09-17

Series E and F convert 1:1 into Class B; Class B converts 1:1 into Class A. Financing closings span multiple months. No additional split is applied. The displayed date is the financial reporting snapshot; it is not an investment date.

Source: [SEC · Workday filing — IPO prospectus (Form 424B4)](https://www.sec.gov/Archives/edgar/data/1327811/000119312512422505/d385110d424b4.htm)

Source location: Related-party Series E/F financings; preferred-stock conversion; Description of Capital Stock

Citation: https://capitaltimemachine.com/private/workday#WDAY-E

### WDAY-F — Series F preferred issuance

Value: 13.26 USD; scope: per_share_issuance_price

Date: 2012-01-31; precision: day; role: historical_table_snapshot; actual investment date: not established

Security: Series F preferred; share basis: as_reported_reviewed_no_additional_split

Verification: primary_verified; checked: 2026-09-17

Series E and F convert 1:1 into Class B; Class B converts 1:1 into Class A. Financing closings span multiple months. No additional split is applied. The displayed date is the financial reporting snapshot; it is not an investment date.

Source: [SEC · Workday filing — IPO prospectus (Form 424B4)](https://www.sec.gov/Archives/edgar/data/1327811/000119312512422505/d385110d424b4.htm)

Source location: Related-party Series E/F financings; preferred-stock conversion; Description of Capital Stock

Citation: https://capitaltimemachine.com/private/workday#WDAY-F

### WDAY-OFFER — Workday IPO offer

Value: 28 USD; scope: public_offer_price_per_share

Date: 2012-10-11; precision: day; role: offering_pricing; actual investment date: not established

Security: Common; share basis: undefined

Verification: primary_verified; checked: 2026-09-17

IPO offering price is an analytical mark, not a current quote or evidence that a private holder could sell at this price.

Source: [SEC · Workday filing — IPO prospectus (Form 424B4)](https://www.sec.gov/Archives/edgar/data/1327811/000119312512422505/d385110d424b4.htm)

Source location: Prospectus cover: offering price and prospectus date

Citation: https://capitaltimemachine.com/private/workday#WDAY-OFFER

## Calculation options

{
  "early_stage_assumptions": null,
  "ipo_offer_models": [
    {
      "id": "WDAY-E-IPO",
      "company": "workday",
      "start": "WDAY-E",
      "end": "WDAY-OFFER",
      "label": "Series E → IPO offer-price mark",
      "conversion_factor": "1",
      "split_adjustment": "already_reflected_do_not_apply_again",
      "reviewed_on": "2026-09-17",
      "basis_note": "Series E and F convert 1:1 into Class B; Class B converts 1:1 into Class A. Financing closings span multiple months. No additional split is applied. Fractional share equivalents only; no sale, fees, taxes, dividends or CAGR.",
      "source_url": "https://www.sec.gov/Archives/edgar/data/1327811/000119312512422505/d385110d424b4.htm",
      "source_locators": [
        "Related-party Series E/F financings; preferred-stock conversion; Description of Capital Stock",
        "Prospectus cover",
        "Shares Eligible for Future Sale / Underwriting: selling restrictions"
      ]
    },
    {
      "id": "WDAY-F-IPO",
      "company": "workday",
      "start": "WDAY-F",
      "end": "WDAY-OFFER",
      "label": "Series F → IPO offer-price mark",
      "conversion_factor": "1",
      "split_adjustment": "already_reflected_do_not_apply_again",
      "reviewed_on": "2026-09-17",
      "basis_note": "Series E and F convert 1:1 into Class B; Class B converts 1:1 into Class A. Financing closings span multiple months. No additional split is applied. Fractional share equivalents only; no sale, fees, taxes, dividends or CAGR.",
      "source_url": "https://www.sec.gov/Archives/edgar/data/1327811/000119312512422505/d385110d424b4.htm",
      "source_locators": [
        "Related-party Series E/F financings; preferred-stock conversion; Description of Capital Stock",
        "Prospectus cover",
        "Shares Eligible for Future Sale / Underwriting: selling restrictions"
      ]
    }
  ],
  "valuation_comparisons": [],
  "user_entered_private_prices": false,
  "entered_public_price_review": {
    "company": "workday",
    "ticker": "WDAY",
    "issuer_cik": "1327811",
    "model_ids": [
      "WDAY-E-IPO",
      "WDAY-F-IPO"
    ],
    "from_date": "2024-06-10",
    "through_date": "2026-09-19",
    "reviewed_on": "2026-09-19",
    "status": "reviewed_user_price_scenario",
    "historical_only": false,
    "limitation": "Entered price is unverified. Use the actual common-share price on its dated basis, not a dividend-adjusted or retrospectively split-adjusted history.",
    "listed_equivalent_factor": "1",
    "splits": [],
    "sources": [
      {
        "url": "https://www.sec.gov/Archives/edgar/data/1327811/000119312512422505/d385110d424b4.htm",
        "title": "Original IPO share basis",
        "locator": "Prospectus / offering and capital-stock terms; the existing private-to-IPO model supplies the entry conversion."
      },
      {
        "url": "https://www.sec.gov/Archives/edgar/data/1327811/000132781126000044/wday-20260731.htm",
        "title": "Issuer 10-Q · 2026-08-27",
        "locator": "Common-stock presentation and corporate-action screening. A missing split keyword alone is not evidence of a complete history."
      },
      {
        "url": "https://www.stocksplithistory.com/?symbol=WDAY",
        "title": "Supplemental split-history screen",
        "locator": "Dated post-IPO corporate actions only. Ticker reuse can introduce unrelated pre-IPO events; those are excluded. No market quote was copied."
      }
    ],
    "review_note": "Entry-to-IPO conversion reuses the approved company-specific model. The post-IPO corporate-action screen matches the issuer CIK and excludes reused ticker history predating its IPO. This is a bounded price-only scenario, not a licensed quote or a certified corporate-action feed."
  },
  "public_ipo": null
}

## Reuse and corrections

Link to the company page and original evidence, retain dates, units and limitations. Third-party source terms remain applicable; no new license to third-party material is granted. https://capitaltimemachine.com/terms

Corrections: mailto:capitaltimemachine@gmail.com