NetSuite

NetSuite Inc.
Public (NYSE: N)
Industry Computer software
Founded California (1998)
Headquarters San Mateo, California, United States
Key people
 Zachary (Zach) Nelson (CEO)
Evan Goldberg (Chairman / CTO)
Lawrence (Larry) J. Ellison Stakeholder
Services Web-based business management software
Revenue Increase US$741.1 million (2015)[1]
Decrease (US$115.6) million (2013)[1]
Decrease (US$124.7) million (2015)[1]
Number of employees
 4,603 (March 2014)[2]

NetSuite Inc. is an American software company based in San Mateo, California, that sells an eponymous group of software services used to manage a business's operations and customer relations.[3] Customers access these services over the internet paying a periodic subscription fee. NetSuite's services are primarily aimed at medium- to enterprise-sized businesses.[4]

History

NetSuite was founded in 1998 by Evan Goldberg as NetLedger, web-hosted accounting software. NetLedger was later renamed to Oracle Small Business Suite and finally NetSuite.[5] Goldberg is current chairman and chief technology officer.[2]

On January 4, 2007, NetSuite named Moneyball General Manager Billy Beane of Major League Baseball's Oakland A's to its board of directors. Evan Goldberg cited Beane's ability to combine facts with instinct as an important factor in the decision to involve him in the company.[6]

NetSuite became a publicly traded company after its initial public offering (IPO) of 6.2 million shares on the New York Stock Exchange in December 2007.[7] Though NetSuite has shown a 149% increase in revenue in the five-year period from 2009 to 2014 [8] it has incurred annual operating losses since inception.[2]

NetSuite had 2,550 employees as of March 31, 2014, a 31% increase over March 31, 2013, when it had 1,953. One quarter of its employees are based in its Philippine office. NetSuite has additional offices in Denver, Las Vegas, Austin, Chicago, Atlanta, New York, Boston, Toronto, the UK, Spain, the Czech Republic, Japan, Hong Kong, Singapore, Australia and Uruguay.[2]

Larry Ellison & Oracle

In 1998 Evan Goldberg received approximately $125 million in initial financial backing from Larry Ellison,[9] founder and chief executive officer of Oracle Corp through Ellison's venture capital entity Tako Ventures.[10] Other initial investors were StarVest Partners[11] ADP and UBS PaineWebber.[12]

Ellison and family members own approximately 48.1% of NetSuite's common stock as of March 31, 2014. The firm's 10-Q filing for March 31, 2014, states that "Mr. Ellison is able to exercise control over approval of significant corporate transactions, including a change of control or liquidation."[2]

In 2013 Ellison entered into a nine-year partnership between Oracle Corp and Salesforce.com, a direct NetSuite CRM competitor, to integrate their web-based platforms.[13]

NetSuite relies on database software licensed from Oracle. There is a risk that this software may not be available at a commercially viable price and it cannot be easily replaced.[2]

Products

NetSuite groups its services into four main suites plus NetSuite OneWorld:

Acquisitions

Awards

See also

References

  1. 1 2 3 https://biz.yahoo.com/e/160224/n10-k.html. Missing or empty |title= (help)
  2. 1 2 3 4 5 6 http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=11205201-10390-62001&type=sect&TabIndex=2&dcn=0001117106-16-000050&nav=1&src=Yahoo. Missing or empty |title= (help)
  3. ↑ Hardy, Quentin (15 May 2012). "NetSuite Moves to ‘Commerce as a Service’". The New York Times. Retrieved 30 October 2015.
  4. ↑ Hardy, Quentin (13 May 2014). "NetSuite: Enterprise Software Still Follows a Manufacturing Model". The New York Times. Retrieved 30 October 2015.
  5. ↑ "ERPsoftware360".
  6. ↑ "Billy Beane takes seat on NetSuite board". San Francisco Business Times. January 4, 2007. Retrieved August 2, 2012.
  7. ↑ "NASDAQ - NetSuite Inc. (N) Prospectus". Retrieved 2014-09-01.
  8. ↑ "The Wall Street Journal's MarketWatch, NYSE Sybol "N"".
  9. ↑ "Seeking Alpha - Larry Ellison's Investment In NetSuite: Conflict of Interest?".
  10. ↑ "The Register - Ellison's NetSuite still not making money".
  11. ↑ "Starvest Partners Portfolio, NetSuite".
  12. ↑ "The Internet Retailer - NetLedger Inc. Changes Name to NetSuite Inc.".
  13. ↑ "ZD Net - Salesforce.com, Oracle partner in cloud".
  14. ↑ "PC Magazine - NetSuite ERP".
  15. ↑ "Netsuite Profile". In Marketing We Trust. Retrieved 2015-06-26.
  16. ↑ "NetSuite Website".
  17. ↑ "CNET - NetSuite Finds A Sweet Spot with OneWorld".
  18. ↑ Schonfeld, Erick (2 June 2008). "NetSuite Buys OpenAir For $26 million". TechCrunch.
  19. ↑ "NetSuite Acquires Retail Anywhere, Adding Key Capabilities To Support Multi-Channel Retail Success". PR Newswire. 10 January 2013.
  20. ↑ Hesseldahl, Arik (22 October 2013). "NetSuite Acquires HR Software Player TribeHR". AllThingsD.
  21. ↑ "Element Fusion, the Creator of LightCMS, Joins Forces with NetSuite". LightCMS Blog. 13 March 2013.
  22. ↑ Gagliordi, Natalie (17 July 2014). "NetSuite acquires Venda to boost omnichannel efforts". ZDNet.
  23. ↑ Bond, Josh (1 July 2015). "Top 20 supply chain management software suppliers, 2015". Modern Materials Handling. Retrieved 29 October 2015.
  24. ↑ Ohnesorge, Lauren K. (23 April 2015). "Durham-based Bronto Software to be Acquired in $200M deal". Triangle Business Journal.
  25. ↑ Ohnesorge, Lauren K. (22 October 2015). "NetSuite CEO: Bronto acquisition turning out 'better than we expected'". Triangle Business Journal. Retrieved 29 October 2015.
  26. ↑ "Most Innovative Growth Companies". Forbes, June 2014

External links

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