In December of 2007, NetSuite raised $161 million in their Initial Public Offering giving NetSuite a market cap of $1.5 billion dollars. In November of 2016, NetSuite was acquired by Oracle for $9.3 billion dollars. This type of startup success is what every SaaS founder dreams about when sketching out their venture on a napkin. But how did NetSuite do it? That is exactly what we talk about in this week's episode!
My guest this week is none other than Evan Goldberg, Founder & EVP of Oracle NetSuite.
The startup story of NetSuite is amazing because Evan and Larry Ellison spent 5 minutes on the phone discussing the idea of selling software from the cloud (which wasn’t called the cloud back in 1999) and then one year later they were selling to customers.
NetSuite is the market leader in small business cloud-based ERP solutions and have over 27,000 customers across the globe. Within my full interview we discuss how he handled the failure of his first software startup, what it was like to build a startup and navigate an IPO as well as a corporate acquisition. We even discuss the fact that Evan had to lead NetSuite through not one financial crisis, but two. The dot com bust of 2000 and the 2008 market crash…and then a third with the COVID pandemic just last year…but we don’t spend any time talking about that because there just wasn’t enough time! I’m telling you…you are going to love this episode.
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