ServiceNow

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ServiceNow, Inc.
Formerly
Glidesoft
Public
Traded as
Industry Enterprise software
Founded 2003; 15 years ago (2003)
Founders
Headquarters Santa Clara, California
Area served
800 customers worldwide (2011)[1]
Key people
  • John Donahue (CEO)
  • Chirantan "CJ" Desai (CPO)[2]
  • Michael Scarpelli (CFO)
Services
Revenue Increase US$1,933,026,000 (2017)[3]:1
Increase US$−101,414,000 (2017)[3]:1
Increase US$−149,130,000 (2017)[3]:1
Total assets Increase US$3,397,904,000 (2017)[3]:2
Total equity Increase US$584,000 (2017)[3]:2
Number of employees
6000 (1000 in San Diego area)[2] (2017)
Website www.servicenow.com

ServiceNow, Inc. (Service-now in 2011) is a cloud computing company headquartered in Santa Clara, California. It was founded in 2004 by Fred Luddy, the previous CTO of software companies Peregrine Systems and Remedy Corporation. ServiceNow is listed on the New York Stock Exchange and is a constituent of the Russell 1000 index.

History[edit]

ServiceNow was founded as Glidesoft, Inc. in 2003 by Fred Luddy, and later incorporated in California in 2004.[2][4] Luddy had previously served as chief technology officer for Peregrine Systems, an enterprise software company based in San Diego, until 2002.[5] In founding the company, Luddy intended to provide the same services previously available from the then defunct Peregrine Systems.[5]

Until mid-2005, Luddy was the only employee and concentrated on developing the software which the company would offer.[5] Then came the first hires, five people, and raising US$2.5 million in venture financing from JMI Equity.[5] In 2006, the company changed its name to ServiceNow.[6][unreliable source?] In 2007, ServiceNow reported an annual revenue of US$13 million and opened their first Silicon Valley office, in San Jose.[1] 2007 was also the first year that the company "went cash flow positive".[5]

As of January 2011, the company had 275 employees distributed across sites in San Diego, Chicago, New York, Atlanta, London and Frankfurt, as well as a partnership with Accenture who had more than 100 ServiceNow-dedicated consultants.[5] At this time, the company was known as "Service-now".[5] By April 2011, the company had named Frank Slootman as chief executive officer.[1]

In June 2012, ServiceNow became a publicly traded company and debuted with a US$210 million IPO. Shortly thereafter, the company relocated its headquarters from San Diego to Santa Clara, California.[2][4] It was the first technology company taken public by Morgan Stanley since Facebook.[7]

The ServiceNow headquarters in Santa Clara, California.
The ServiceNow headquarters in Santa Clara, California.

In 2017, the company expanded its skills in the area of human-centered design through acquisition of the San Diego firm Telepathy, which had been founded in 2001; the acquisition doubled the size of ServiceNow's internal design agency, the Design Experience Organization.[2]

Business model[edit]

As of 2011, ServiceNow was a software-as-a-service provider, providing technical management support, such as asset and license 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.[5]

See also[edit]

References[edit]

  1. ^ a b c Bigelow, Bruce V. (August 9, 2011). "San Diego's ServiceNow Driving Hard as Revenue Soars; Expands to Silicon Valley". Xconomy. Retrieved 2018-05-11. 
  2. ^ a b c d e Bigelow, Bruce V. (October 3, 2017). "Xconomy: ServiceNow Buys San Diego Specialist in Customer Experience, Design". Xconomy. Retrieved 2018-05-11. 
  3. ^ a b c d e "ServiceNow Reports Financial Results for Fourth Quarter and Fiscal Year 2017" (PDF). [self-published source]
  4. ^ a b "Glidesoft seeks San Diego area businesses to participate in Customer Advisory Program for innovative IT Service Management solution" (PNG) (Press release). GlideSoft. January 25, 2005. Retrieved 2018-05-11 – via BusinessWire. 
  5. ^ 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 2018-05-11. 
  6. ^ Noshee (October 17, 2014). "Service Now — Leading cloud provider passes with flying colors" (Blog). Financial Markets Wizard. Retrieved 2018-05-11. 
  7. ^ Spears, Lee (June 29, 2012). "ServiceNow Advances in Debut After $210 Million IPO". Bloomberg News.