Oracle's takeover left him out of work at 64. He built Workday.
Dave Duffield co-founded PeopleSoft, a business software company, in 1987. When Oracle launched a hostile bid in 2003, he came back as chief executive in October 2004 to fight it, and lost. In December PeopleSoft agreed to a $10.3 billion deal. In January the Associated Press reported Oracle would cut 5,000 jobs across the combined company. Forbes later described Duffield as "rich, morose and out of work."
In February 2005 he met his former vice chairman, Aneel Bhusri, for brunch at a diner in Truckee, California. Bhusri pitched cloud software for human resources and finance. Duffield later told a colleague: "I think I've got one more in me." He paid the first year's costs with a $15 million personal cheque.
Workday was founded in March 2005. It went public in October 2012 at $28 a share. In its fiscal year to January 2026, it reported $9.55 billion in revenue.
If an acquisition has ever ended your project, the detail worth remembering is who built the next system: the team that lost the old one.
True story. AI-generated illustration with narration by an AI voice.
What would you have done at 64?
What the captions say
- This is the story of how a takeover by software giant Oracle left founder Dave Duffield out of work at 64, and how he co-founded Workday.
- In 1987, Duffield co-founded PeopleSoft, a business software company. In 2003, Oracle set out to buy it.
- That June, Oracle launched a hostile bid. PeopleSoft resisted. The fight lasted 18 months.
- In October 2004, Duffield returned as PeopleSoft's chief executive to stop the takeover.
- He lost. Duffield said later: "We worked like crazy for several months to keep PeopleSoft from the clutches of Oracle."
- In December, PeopleSoft agreed to a $10.3 billion deal. In January, the Associated Press reported Oracle would cut 5,000 jobs across the combined company.
- Forbes described Duffield as "rich, morose and out of work" at 64. PeopleSoft's vice chairman, Aneel Bhusri, was out too.
- In February 2005, the two met for brunch at a diner in Truckee, California. Bhusri pitched cloud software for HR and finance.
- Duffield later told a PeopleSoft colleague: "I think I've got one more in me."
- Workday was founded in March 2005. Duffield covered the first year's costs with a $15 million personal cheque.
- At launch in November 2006, Workday had 65 employees. Early customers mostly knew the founders. Duffield said they "bought the friendship, not the software".
- In October 2012, Workday's shares were priced at $28. They opened at just over $47.
- In fiscal 2026, Workday reported $9.55 billion in revenue. Duffield had one more in him.
