ServiceNow

ServiceNow 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. Founded in 2003 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.[2] In 2018, Forbes magazine named it number one on its list of the world's most innovative companies.[3]

ServiceNow, Inc.
FormerlyGlidesoft (2003–2006)
TypePublic
IndustryEnterprise software
Founded2003 (2003)
Founders
  • Fred Luddy
  • David Loo
  • Don Goodliffe
  • Bow Ruggeri
  • Patrick Casey
HeadquartersSanta Clara, California, U.S.
Area served
Worldwide
Key people
Services
RevenueIncrease US$7.25 billion (2022)
Increase US$355 million (2022)
Increase US$325 million (2022)
Total assetsIncrease US$13.3 billion (2022)
Total equityIncrease US$5.03 billion (2022)
Number of employees
20,433 (December 2022)
Websiteservicenow.com
Footnotes / references
[1]

History

ServiceNow was founded as Glidesoft, Inc. in 2003 by Fred Luddy, and later incorporated in California in 2004.[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]

Luddy was the only employee until mid-2005[5] when US$2.5 million in venture financing from JMI Equity allowed Glidesoft to hire five additional people.[5] In 2006, the company changed its name to Service-Now.com.[6] In 2007, ServiceNow reported an annual revenue of US$13 million and opened their first Silicon Valley office, in San Jose.[7] 2007 was also the first year that the company "went cash flow positive".[5]

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.[5] At this time, the company was sometimes known as "Service-now".[5] By April 2011, the company had named Frank Slootman as chief executive officer.[7]

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.[4] It was taken public by Morgan Stanley one month after they took Facebook public.[8]

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.[9]

Acquisitions
  • In July 2013, ServiceNow acquired Mirror42, an Amsterdam-based software developer.[10]
  • In July 2014, ServiceNow acquired Neebula Systems, an Israeli cloud computing tools company.[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.[4]
  • In October 2017, ServiceNow acquired SkyGiraffe, an enterprise mobility company backed by Microsoft Ventures. SkyGiraffe was founded by Boaz Hecht and Itay Braun. SkyGiraffe formed the basis for ServiceNow's Mobile Platform released in March 2019.[15]
  • In April 2018 ServiceNow acquired VendorHawk, a software-as-a-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 May 2019, ServiceNow acquired Appsee Ltd., an analytics startup, that helped developers understand how users interact with their mobile apps.[19]
  • In November 2019, ServiceNow announced its acquisition of Fairchild Resiliency Systems.[20]
  • In January 2020, ServiceNow announced its acquisition of Loom Systems, Passage AI and Attivio.[21][22]
  • In June 2020, ServiceNow announced its acquisition of Sweagle.[23]
  • In November 2020, ServiceNow announced its intent to acquire Element AI.[24]
  • In March 2021, ServiceNow announced its acquisition of Intellibot.[25]
  • In May 2021, ServiceNow announced its acquisition of Lightstep.[26]
  • In August 2021, ServiceNow announced its acquisition of Swarm64 and Mapwize.[27][28]
  • In October 2021, ServiceNow announced its acquisition of Gekkobrain.[29]
  • In June 2022, ServiceNow announced its acquisition of Hitch.[30]
  • In October 2022, ServiceNow announced its acquisition of Era Software.[31]

Business model

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.[5]

In March 2020, ServiceNow released "Orlando", a version of its cloud software paired with artificial intelligence technology aimed at fixing practical problems.[32]

See also

References
  1. "ServiceNow, Inc. 2022 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. January 31, 2023.
  2. "ServiceNow Rallies Ahead of Joining the S&P 500".
  3. "The World's Most Innovative Companies". Forbes.
  4. Bigelow, Bruce V. (October 3, 2017). "Xconomy: ServiceNow Buys San Diego Specialist in Customer Experience, Design". Xconomy. Retrieved May 11, 2018.
  5. 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.
  6. 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.
  7. Bigelow, Bruce V. (August 9, 2011). "San Diego's ServiceNow Driving Hard as Revenue Soars; Expands to Silicon Valley". Xconomy. Retrieved May 11, 2018.
  8. Spears, Lee (June 29, 2012). "ServiceNow Advances in Debut After $210 Million IPO". Bloomberg.com. Bloomberg News.
  9. "ServiceNow Shakeup: No One Saw This Coming". Channelnomics. October 23, 2019. Retrieved October 23, 2019.
  10. Bigelow, Bruce. "ServiceNow Acquires Dutch Provider of Performance Analytics Software". Xconomy. Retrieved August 22, 2019.
  11. Goldenberg, Roy (July 9, 2014). "ServiceNow acquires Neebula Systems for $100m". Globes. Retrieved March 4, 2021.
  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. October 11, 2018. Retrieved November 23, 2020.
  19. Deutscher, Maria (May 13, 2019). "ServiceNow picks up mobile app analytics startup Appsee". SiliconAngle. Retrieved August 15, 2019.
  20. Links, Recommended. "ServiceNow to acquire Fairchild Resiliency Systems to help companies better manage risk at scale". blogs.servicenow.com.
  21. Deutscher, Maria (January 28, 2020). "Two deals in a week: ServiceNow acquires Passage AI for its deep learning chatbots". SiliconANGLE. Retrieved April 2, 2020.
  22. "ServiceNow to Acquire Passage AI". www.businesswire.com. January 28, 2020. Retrieved March 16, 2021.
  23. Miller, Ron (June 20, 2020). "ServiceNow to acquire Belgian configuration management startup Sweagle".
  24. Gagliordi, Natalie (November 30, 2020). "ServiceNow acquires artificial intelligence startup Element AI". ZDNet.
  25. Miller, Ron (March 23, 2021). "ServiceNow takes RPA plunge by acquiring India-based startup Intellibot". TechCrunch.
  26. Dignan, Larry (May 10, 2021). "ServiceNow acquires Lightstep, aims to leverage observability across enterprises". ZDNet.
  27. Dignan, Larry (August 5, 2021). "ServiceNow acquires database performance company Swarm64". ZDNet.
  28. Sawers, Pauk (August 11, 2021). "ServiceNow expands into indoor mapping with Mapwize acquisition". VentureBeat.
  29. Links, Recommended. "Gekkobrain acquisition to streamline ERP migrations, modernize systems of record". blogs.servicenow.com.
  30. Sawers, Paul (June 3, 2022). "ServiceNow acquires Hitch to bring AI-powered skills mapping to the enterprise". VentureBeat.
  31. Scannell, Ed (October 6, 2022). "ServiceNow buys Era Software to unify observability strategy". TechTarget.
  32. Nellis, Stephen (March 11, 2020). "ServiceNow adds artificial intelligence features to its business software". Reuters. Retrieved September 16, 2020.
  • Official website
  • Business data for ServiceNow, Inc.:
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