ServiceNow

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ServiceNow, Inc.
FormerlyGlidesoft
TypePublic
IndustryEnterprise software
Founded2003; 18 years ago (2003)
Founders
HeadquartersSanta Clara, California
Area served
6200+ customers worldwide
Key people
Services
RevenueIncrease US$3,460,437,000 (2019)[1]
Increase US$42,123,000 (2019)[1]
Increase US$626,698,000 (2019)[1]
Total assetsIncrease US$6,022,430,000 (2019)[1]
Number of employees
12,500+[2] (2020)
Websiteservicenow.com

ServiceNow (Service-now in 2011) is an American software company based in Santa Clara, California that develops a cloud computing platform to help companies manage digital workflows for enterprise operations, and was also recognized for innovation.[3] Founded in 2004 by Fred Luddy, ServiceNow is listed on the New York Stock Exchange and is a constituent of the Russell 1000 Index and S&P 500 Index.[4]

History[edit]

ServiceNow was founded as Glidesoft, Inc. in 2003 by Fred Luddy (the previous CTO of software companies Peregrine Systems and Remedy Corporation), and later incorporated in California in 2004.[5] Luddy had previously served as chief technology officer for Peregrine Systems, an enterprise software company based in San Diego, until 2002.[6] In founding the company, Luddy intended to provide the same services previously available from the then defunct Peregrine Systems.[6]

Until mid-2005, Luddy was the only employee and concentrated on developing the software which the company would offer.[6] Then came the first hires, five people, and raising US$2.5 million in venture financing from JMI Equity.[6] In 2006, the company changed its name to ServiceNow.[7] In 2007, ServiceNow reported an annual revenue of US$13 million and opened their first Silicon Valley office, in San Jose.[8] 2007 was also the first year that the company "went cash flow positive".[6]

As of January 2011, the company had 275 employees in its San Diego, Chicago, New York, Atlanta, London and Frankfurt offices, as well as a partnership with Accenture who had more than 100 ServiceNow consultants.[6] At this time, the company was known as "Service-now".[6] By April 2011, the company had named Frank Slootman as chief executive officer.[8]

In June 2012, ServiceNow became a publicly traded company following a US$210 million IPO. Shortly thereafter, the company relocated its headquarters from San Diego to Santa Clara, California.[5] It was taken public by Morgan Stanley one month after they took Facebook public.[9]

In October 2019, the company announced that CEO John Donahoe would be succeeded by Bill McDermott, formerly CEO of SAP SE at the end of the calendar year.[10]

Acquisitions[edit]

  • In July 2013, ServiceNow acquired Mirror42, an Amsterdam-based software developer.[11]
  • In February 2015, ServiceNow acquired Intréis.[12]
  • In June 2016, ServiceNow acquired Brightpoint Security.[13]
  • In January 2017, ServiceNow acquired machine learning startup DxContinuum.[14]
  • In October 2017, the company acquired the San Diego human-centered design firm Telepathy, which had been founded in 2001; the acquisition doubled the size of ServiceNow's internal design agency, the Design Experience Organization.[5]
  • In October 2017, ServiceNow acquired SkyGiraffe,[15]
  • In April 2018 ServiceNow acquired VendorHawk, a Software-as-Service-Management Company.[16]
  • In May 2018, ServiceNow acquired AI startup Parlo.[17]
  • In October 2018, ServiceNow acquired a data analytics company FriendlyData.[18]
  • In 2019, ServiceNow acquired Appsee Ltd., an analytics startup, that helped developers understand how users interact with their mobile apps.[19]
  • In January 2020, ServiceNow announced its acquisition of Loom Systems and Passage AI.[20]
  • In June 2020, ServiceNow announced its acquisition of Sweagle.[21]
  • In November 2020, ServiceNow announced its intent to acquire Element AI.[22]

Business model[edit]

ServiceNow is a platform-as-a-service provider, providing technical management support, such as IT service management, to the IT operations of large corporations, including providing help desk functionality. The company's core business revolves around management of "incident, problem, and change" IT operational events. Their fee model was based on a cost per user (seat) per month, with that cost ranging down from US$100.[6]

In March 2020, ServiceNow released "Orlando", the company's latest version of its cloud software paired with artificial intelligence technology aimed at fixing practical problems.[23]

See also[edit]

References[edit]

  1. ^ a b c d "ServiceNow Reports Record Fourth Quarter and Fiscal Year 2019 Financial Results" (PDF).[self-published source]
  2. ^ "ServiceNow Q1 2020 Fact Sheet" (PDF).[self-published source]
  3. ^ Purkayastha, Debapratim and Chakraborty, Barnali (2020). "ServiceNow: From Startup to World's Most Innovative Company". icmrindia.org. Retrieved July 7, 2020.CS1 maint: multiple names: authors list (link)
  4. ^ "ServiceNow Rallies Ahead of Joining the S&P 500".
  5. ^ a b c Bigelow, Bruce V. (October 3, 2017). "Xconomy: ServiceNow Buys San Diego Specialist in Customer Experience, Design". Xconomy. Retrieved May 11, 2018.
  6. ^ a b c d e f g h Bigelow, Bruce V. (January 11, 2011). "Xconomy: Service-Now CEO Fred Luddy Sees a Clear Path to $1 Billion in Annual Revenue". Xconomy. Retrieved May 11, 2018.
  7. ^ Abbott, Martin L.; Fisher, Michael T. (August 25, 2016). Scalability Rules: Principles for Scaling Web Sites (2 ed.). Addison-Wesley Professional. p. 59. ISBN 978-0-13-443167-3.
  8. ^ a b Bigelow, Bruce V. (August 9, 2011). "San Diego's ServiceNow Driving Hard as Revenue Soars; Expands to Silicon Valley". Xconomy. Retrieved May 11, 2018.
  9. ^ Spears, Lee (June 29, 2012). "ServiceNow Advances in Debut After $210 Million IPO". Bloomberg News.
  10. ^ "ServiceNow Shakeup: No One Saw This Coming". Channelnomics. October 23, 2019. Retrieved October 23, 2019.
  11. ^ Bigelow, Bruce. "ServiceNow Acquires Dutch Provider of Performance Analytics Software". Xconomy. Retrieved August 22, 2019.
  12. ^ "ServiceNow Acquires Intrei, Launches New GRC Offering". ITBrief. Retrieved August 22, 2019.
  13. ^ Clancy, Heather. "ServiceNow snaps up Security Startup". forbes. Retrieved August 22, 2019.
  14. ^ Gagliordi, Natalie. "ServiceNow buys DxContinuum to boost enterprise automation services". zdnet. Retrieved August 22, 2019.
  15. ^ Gagliordi, Natalie. "ServiceNow buys mobile platform startup SkyGiraffe". ZDNet. Retrieved June 7, 2019.
  16. ^ Gagliordi, Natalie. "ServiceNow beats estimates, acquires VendorHawk". zdnet. Retrieved August 15, 2019.
  17. ^ Gagliordi, Natalie. "ServiceNow buys AI startup Parlo". ZDNet. Retrieved November 23, 2020.
  18. ^ "ServiceNow to acquire FriendlyData for its natural language search technology". TechCrunch. Retrieved November 23, 2020.
  19. ^ Deutcher, Maria. "ServiceNow picks up mobile app analytics startup Appsee". SiliconAngle. Retrieved August 15, 2019.
  20. ^ Deutscher, Maria (January 28, 2020). "Two deals in a week: ServiceNow acquires Passage AI for its deep learning chatbots". SiliconANGLE. Retrieved April 2, 2020.
  21. ^ Miller, Ron (June 20, 2020). "ServiceNow to acquire Belgian configuration management startup Sweagle".
  22. ^ "ServiceNow to Acquire AI Pioneer Element AI". November 30, 2020.
  23. ^ Nellis, Stephen (March 11, 2020). "ServiceNow adds artificial intelligence features to its business software". Reuters. Retrieved September 16, 2020.