NetSuite

NetSuite Inc. stands as a pioneering force in cloud computing, widely recognized as the first cloud-based enterprise resource planning (ERP) company, predating even Salesforce by approximately a month. Founded in 1998 as NetLedger in a modest office above a hair salon in San Mateo, California, the company emerged from a visionary five-minute phone call between entrepreneur Evan Goldberg and Oracle founder Larry Ellison, who discussed the revolutionary idea of delivering software over the internet. With an initial investment of $125 million from Ellison's venture capital firm Tako Ventures, NetSuite set out to transform how businesses manage their operations through cloud-based applications.

The company's journey from a simple web-based accounting platform to a comprehensive business management suite reflects its continuous innovation and market leadership. In 2002, NetLedger evolved into NetSuite after expanding beyond accounting to include inventory management and customer relationship management (CRM) capabilities. That same year, Zach Nelson joined as CEO, catalyzing a remarkable growth trajectory that saw annual revenue climb from approximately $1 million to nearly $1 billion over 14 years. The company's 2007 Initial Public Offering on the New York Stock Exchange, which raised $161 million and valued NetSuite at $1.7 billion, validated the cloud ERP model and established the company as a publicly traded technology leader.

In November 2016, Oracle Corporation acquired NetSuite for $9.3 billion in what became the third-largest software company acquisition by enterprise value in industry history. Under Oracle's ownership, NetSuite has continued to thrive as a distinct Global Business Unit, with founder Evan Goldberg remaining at the helm of product strategy and development as Executive Vice President. Today, NetSuite serves more than 43,000 fast-growing organizations globally, providing an integrated cloud platform that unifies accounting, financial management, CRM, inventory management, human capital management, payroll, procurement, project management, and e-commerce capabilities.

NetSuite's enduring success stems from its commitment to serving small and medium-sized businesses (SMBs) with enterprise-grade capabilities, its continuous innovation through platforms like SuiteCloud and SuiteCommerce, and its vision of unified business management in the cloud. With strategic acquisitions including OpenAir (2008), TribeHR (2014), and Bronto (2015), NetSuite has expanded its ecosystem to address evolving customer needs. The company's recent focus on AI-powered autonomous applications and its integration with Oracle's broader technology portfolio position NetSuite to continue leading the cloud ERP revolution for decades to come.