History of NetSuite
NetSuite was founded in 1998 by Evan Goldberg under the name NetLedger, with backing from Oracle co-founder Larry Ellison. It was one of the first cloud-based software companies, offering web-hosted accounting and business management solutions at a time when most enterprise software was installed on-premises. Over time, NetSuite expanded its offerings to include enterprise resource planning (ERP), customer relationship management (CRM), and e-commerce solutions, making it a leading provider of cloud-based business software for small and mid-sized companies.
In 2016, Oracle acquired NetSuite for $9.3 billion, integrating it into its suite of enterprise applications while allowing it to operate independently. The acquisition helped NetSuite expand globally, enhancing its scalability and cloud capabilities. Today, NetSuite serves businesses in various industries, offering a comprehensive, cloud-native platform for financials, operations, and customer management.