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Not to be confused with ARIBA. Ariba (NASDAQ: ARBA) is a software and information technology services company located in Sunnyvale, California.
Early life
Ariba was founded in 1996 by Keith Krach on the idea of using the Internet to enable companies to facilitate and improve the procurement process. Procurement had been a paper-based, labor-intensive, and inefficient process for large corporations. According to the company's website, Ariba provides "Spend Management solutions" which help companies "analyze, understand, and manage their corporate spending to achieve cost savings and business process efficiency."
Ariba was one of the first business-to-business Internet companies to go public (in 1999). The company's stock more than tripled from the offering price on opening day,citation needed making the three year-old company worth $6 billion. In 2000, the stock value continued to climb, and Ariba's market capitalization was as high as $40 billion. With the bursting of the dot-com bubble, Ariba's stock fell dramatically, where it lingered until May, 2003. In early 2008, the company's market capitalization exceeded $1 billion USD due to sudden increase in stock price.
Past acquisitions
In early 2004, Ariba acquired freemarkets which gave the company a software package both in the upstream (sourcing) and downstream (Buyer) of the procurement process. In late 2007, Ariba took over the company Procuri which enhanced the company's client base and on-demand abilities. Ariba is currently operating in a market niche with only one major direct competitor called Emptoris. Other competitors include SAP and Oracle
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