ServiceNow IPO Info
Company Name: ServiceNow
Stock Symbol: NOW
IPO Date: 6/29/2012
IPO Price: 18.00 (66.83%)
UnderwritersMorgan Stanley, Citi, Deutsche Bank, Barclays, Credit Suisse, UBS, Pacific Crest, Wells Fargo.
Amount of Offering: N/A
Number of Shares Offered: 11.65 Mil
Shares Outstanding After Offering: 120.29 Mil
Company DescriptionServiceNow is a leading provider of cloud-based services to automate enterprise IT operations. Services includes a suite of applications built on our proprietary platform that automates workflow and integrates related business processes. The company focuses on transforming enterprise IT by automating and standardizing business processes and consolidating IT across the global enterprise. Organizations deploy their service to create a single system of record for enterprise IT, to lower operational costs and to enhance efficiency. Additionally, customers use their extensible platform to build custom applications for automating activities unique to their business requirements. ServiceNow has achieved significant growth in recent periods. A majority of revenues comes from large, global enterprise customers. Total customers grew 62% from 602 as of December 31, 2010 to 974 as of December 31, 2011. Their customers operate in a wide variety of industries, including financial services, IT services, health care, technology and utilities.
Financial DataFor the fiscal years ended June 30, 2010 and 2011, revenues grew 114% from $43.3 million to $92.6 million. They incurred a net loss of $29.7 million and generated net income of $9.8 million for the fiscal years ended June 30, 2010 and 2011, respectively. For the six months ended December 31, 2010 and 2011, revenues grew 93% from $37.9 million to $73.4 million. They generated net income of $4.8 million and incurred a net loss of $6.7 million for the six months ended December 31, 2010 and 2011, respectively.
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