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Zach Nelson wasn't CEO of NetSuite (NYSE: N) when in 1998 the company (called NetLedger back then) helped usher in the era of Web-based applications and software-as-a-service. However, it wasn't until 2002 when the affable, baseball-loving Nelson took the helm that the company started to expand its product offerings, global reach and market presence. Nelson brought the company public less than a year ago (December 2007), and its market cap is currently around $1 billion. Salesforce grabs more headlines, but NetSuite has taken on the more complex task of offering a full on-demand business suite that encompasses ERP, CRM, inventory control, e-commerce and accounting to mid and large companies. While some still associate NetSuite with its legendary lead investor Larry Ellison, make no mistake: This is Nelson's company. While still not profitable, the company is growing. Its annual revenue has grown from $17.7 million in 2004 to $108.5 million in 2007. Its revenues for the first six months of 2008 were $71 million, up from $48.7 million for the same period in 2007. NetSuite also continues to grow globally with 20 percent of its revenue coming from outside of North America. Numbers aside, you have to love a CEO who not only sold NetSuite to the Oakland A's, but also recruited the team's General Manager Billy Beane to its board of directors. |
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