Overview
NetSuite is a cloud ERP platform founded in 1998 as NetLedger by Evan Goldberg, backed by Larry Ellison’s $125 million investment. Acquired by Oracle for $9.3 billion in November 2016, NetSuite is considered the first cloud computing software company. The platform serves 43,000+ customers across 219 countries and reached $1 billion quarterly revenue in Q4 FY2025.
Highlights
- Pioneer status: “True Cloud” / “Born in the Cloud”, considered first cloud computing software company
- Larry Ellison backing: $125M initial investment, Oracle family connection
- Acquisition history: Oracle $9.3B deal; NetSuite’s own acquisitions include OpenAir, TribeHR, Retail Anywhere
- SuiteCloud Development Platform: Extensibility and customization capabilities
- SuiteSuccess: Industry templates enabling 3-6 month deployments
- “From garage to IPO” positioning: All-in-one unified business management suite
- Target market: SMB to mid-market ($10M-$500M revenue)
- Use cases: Financial management, CRM, e-commerce, inventory, professional services automation
Founded
1998 as NetLedger. Founded by Evan Goldberg, backed by Larry Ellison’s $125M.
Headquarters
Austin, Texas.
Ownership and funding
Acquired by Oracle for $9.3B (November 2016). Acquired OpenAir, TribeHR, Retail Anywhere, FarApp, Verenia CPQ.
Core technology
“True Cloud” architecture, considered the first cloud computing software company. SuiteCloud Development Platform; SuiteSuccess industry templates for 3 to 6 month deployments.
Market position
SMB to mid-market ($10M to $500M revenue); 43,000+ customers across 219 countries.
Product philosophy
“From garage to IPO”, all-in-one unified business management suite.