Netsuite

NetSuite Inc.

Type	Public (: N), Subsidiary of Oracle Corporation
Industry	Computer software
Founded	California (1998)
Headquarters	San Mateo, California, United States
Key people	Zachary (Zach) Nelson (CEO) Evan Goldberg (Chairman / CTO) Lawrence (Larry) J. Ellison Stakeholder
Services	Cloud-based business management platform
Revenue	US$741.1 million (2015)
Operating income	(US$115.6) million (2013)
Net income	(US$124.7) million (2015)
Number of employees	4,603 (December 2015)

NetSuite Inc. is an American cloud computing company based in San Mateo, California, that sells a group of software services used to manage a business's financials, operations and customer relations. Customers can access these services over the internet, through most internet browsers, ensuring access from anywhere in the world. NetSuite's services are aimed at small to medium-sized businesses, although larger enterprises can also benefit from the consolidated ERP, CRM and e-commerce features.Oracle Corporation offered to purchase Netsuite for approximately $9.3 billion USD in July 2016, with the deal finalizing in November 2016.

NetSuite was founded in 1998 by Evan Goldberg as NetLedger, web-hosted accounting software. Oracle licensed the software under the banner of The Oracle Small Business Suite for a short time before that was cancelled. Goldberg is current chairman and chief technology officer.

On January 4, 2007, NetSuite named Moneyball General Manager Billy Beane of Major League Baseball's Oakland A's to its board of directors. Evan Goldberg cited Beane's ability to combine facts with instinct as an important factor in the decision to involve him in the company.

NetSuite became a publicly traded company after its initial public offering (IPO) of 6.2 million shares on the in December 2007. Though NetSuite has shown a 149% increase in revenue in the five-year period from 2009 to 2014 it has incurred annual operating losses since inception.

NetSuite had 2,550 employees as of March 31, 2014, a 31% increase over March 31, 2013, when it had 1,953. One quarter of its employees are based in its Philippine office. NetSuite has additional offices in Denver, Las Vegas, Austin, Chicago, Atlanta, New York, Boston, Toronto, the UK, Spain, the Czech Republic, Japan, Hong Kong, Singapore, Australia and Uruguay.

On July 28, 2016, Oracle announced it had offered to purchase NetSuite for $9.3 billion USD. The deal faces intense scrutiny because Oracle founder, Larry Ellison, owns nearly 40% of NetSuite. This conflict of interest has led the board of both companies to establish independent committees to review the deal from the perspective of independent shareholders. Some major NetSuite shareholders, such as T. Rowe, have notified Oracle they will not be tendering their shares under the current terms of the proposed deal. In early October 2016, Oracle extended the deadline for shareholders of NetSuite to tender their shares to November 4.