Rally Software Donates Over $1 Million Toward Social Impact Donation of 47,189 Shares Has Significant Impact Following Successful April IPO
BOULDER, Colo., Oct. 7, 2013 /PRNewswire/ -- Rally® (NYSE: RALY), a leading global provider of cloud-based solutions for managing Agile software development, this week delivers on its founding promise to give back to the community that helped it thrive in Colorado. When the initial lock-up period on the company's insider shares expires on Oct. 9, 2013, Rally will create over $1 million in value to help build stronger, more equitable and sustainable communities throughout the world.
Rally pledged one percent of its founding equity, or 24,793 shares, over a decade ago to The Community Foundation Serving Boulder County through the Entrepreneurs Foundation of Colorado (EFCO). A second stock donation of 22,396 shares to the company's own Rally for ImpactFoundation could yield over $600,000, depending on Rally's Oct. 9 stock price, giving the grant-making foundation its first significant funding.
"Business has the largest role to play in addressing the world's toughest problems - it can and must become the largest force of good on the planet," said Rally's Founder Ryan Martens. "We built the notion of giving back and social impact into Rally from the beginning by setting aside one percent of Rally's founding equity to go to The Community Foundation Serving Boulder County. I encourage every organization to take steps toward building a social enterprise inside their traditional for-profit businesses to make a positive impact on customers, employees, the community, and the world."
"The Entrepreneurs Foundation efforts and Salesforce.com Foundation's 1/1/1 Model help companies get started down the right path to stronger communities and corporate social responsibility," said Suzanne DiBianca, Executive Director of the Salesforce.com Foundation. "Rally's two equity grants are shining examples of the impact these programs can have on the community and the company for years to come. I sincerely hope this example encourages more companies to take the first step, now."
Established in partnership with The Community Foundation Serving Boulder County, the Rally For Impact Foundation is the philanthropic arm of Rally dedicated to making a strategic social impact. Its mission aims to unlock the potential of Citizen Engineers in communities around the world by using Agile and Lean practices with Rally's Agile ALM platform and products including Flowdock, a team collaboration app for desktop, mobile and web. The vision of Rally For Impact is to connect Citizen Engineers with experts, products, and educational materials to speed the rate of change in our global society.
"Every decision an engineer makes has the potential to have positive or negative economic impacts, as well as impacts on the environment and society. Citizen Engineers take into account all of these impacts in every decision they make," said Dave Douglas, co-author of Citizen Engineer. "I'm thrilled to see the passion Rally has for educating, promoting and motivating Citizen Engineers."
"We congratulate Rally and are honored to partner with them as they continue to prove that giving back is good for business and good for the world," said Josie Heath, President of The Community Foundation Serving Boulder County. "Rally is demonstrating that entrepreneurs and everyone inspired by the spirit of giving back can make an impact where it matters most."
As part of its social mission, Rally For Impact will also work to make an impact in the communities where Rally operates through engaging employees to volunteer. Rally values building a culture of giving by encouraging employees to spend one percent of their paid time volunteering. Rally employees donated nearly 16,000 volunteer hours in the last eight years to organizations including the "I Have a Dream" Foundation, Rocky Mountain MicroFinance Institute, Community Food Share, Growing Gardens, the Boulder Humane Society, Vision House, and Raleigh City Farm.
Employing approximately 400 people worldwide, Rally continues to actively hire. Rally is currently hiring for positions in Amsterdam, Australia, Singapore, the United Kingdom, and the United States. This year, Rally was named to Outside magazine's Best Places to Work list for the fourth time and B Corp's Best for the World list for the second consecutive year. To view and apply for open positions, visit Rally's Career Page.
Rally Software is a leading global provider of cloud-based solutions for managing Agile software development. The Rally Agile application lifecycle management (ALM) platform transforms the way organizations manage the software development lifecycle by closely aligning software development and strategic business objectives, facilitating collaboration, increasing transparency and automating manual processes. Companies use Rally to accelerate the pace of innovation, improve productivity and more effectively adapt to rapidly changing customer needs and competitive dynamics.
SOURCE Rally Software