TriNet
| Public | |
| Traded as | : TNET |
| Industry | Professional Employer Organization |
| Founded | San Leandro, California, U.S. (1988) |
| Headquarters | San Leandro, California, U.S. |
|
Key people
|
Burton Goldfield, President & CEO |
| Revenue |
 US$ 3.1 billion (2016) |
|
US$ 61.4 million (2016) |
|
|
Number of employees
|
3,177 (2017) |
| Website | www |
TriNet (TriNet Group, Inc.) is a cloud-based professional employer organization (PEO) for small and medium-sized businesses. TriNet administers payroll and health benefits and advises clients on employment law compliance and risk reduction. TriNet is headquartered in San Leandro, California. TriNet partners with organizations between 1 and 2,500 employees.
Founded in 1988, TriNet initially offered basic employee benefits, dental coverage, life and disability insurance and employment law guidance. Since then, TriNet has broadened its offerings to add payroll services, Fortune-500 benefits, 401(k) guidance, worker's compensation, liability insurance, and strategic HR support and services. The company also provides online tools such as web-hosted management portals for manager and employee self-service.
TriNet was founded in 1988 by Martin Babinec. Babinec led TriNet through several acquisitions of smaller PEOs, including John Parry & Alexander and the Outsource Group of Walnut Creek, Calif.; E3 Group Inc. of Dallas, ALTRES (Alternative Resources for Business) of Honolulu, Hawaii; and Boston-based HR Logic Holdings, Inc. At the same time, the company went through its own rounds of equity financing, including an investment by U.K.-based staffing firm Select Holdings, LLC (later renamed as Vedior). In 2004, Vedior sold its minority interest in TriNet to General Atlantic, a growth equity firm.
In May 2008, Burton Goldfield joined the company as president and CEO. Babinec remained at the company as a director.
In March 2014 TriNet launched its initial public offering (IPO) on the New York Stock Exchange with ticker symbol TNET.
On March 27, 2014, Burton Goldfield, TriNet CEO, discussed its IPO, competitors, and future with Mad Money host Jim Cramer.
In the 1990s, TriNet was a member of the Inc. 500 Hall of Fame for five consecutive listings on the magazine’s ranking of fastest growing, privately held American companies (#12 in 1995, #79 in 1996, #166 in 1997, #319 in 1998 and #381 in 1999). In 2008, TriNet ranked #3,369 in the Inc. 5000, as well as #13 in the East Bay Business Times list of fastest growing, privately held companies. TriNet repeated the Inc. 5000 honor in 2009, with a #2185 listing, and in 2010, at #1601.
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