Service-Now Names Software Industry Veteran Frank Slootman as CEO
When I met in January with Service-now.com founding CEO Fred Luddy, he said the company that provides software-as-a-service for IT management has enough momentum to carry it through an IPO. Today, if I’m reading the tea leaves correctly, the San Diego company took an important preliminary step in that process by naming Bay Area software industry veteran Frank Slootman as CEO.
Slootman, who was born and educated in Holland, was previously the CEO of Data Domain, the data backup company founded in 2001 with backing from Greylock Partners.
Slootman joined Santa Clara, CA-based Data Domain in 2003 and headed the company through a period of extraordinary growth, which included its 2007 IPO on NASDAQ as well as its acquisition by EMC for $2.4 billion in 2009. (Hopkinton, MA-based EMC topped NetApp in a fierce but short bidding war for Data Domain.) Following the EMC buyout, Slootman remained at Data Domain for 18 months as the company integrated its operations with EMC, forming what is now EMC’s backup recovery systems division.
In January, Slootman joined Greylock’s Menlo Park, CA, office as a partner. He plans to continue his long-time affiliation with both Greylock and EMC. He told me this morning he plans to move to San Diego, and for what it’s worth, that Service-now plans to keep its global headquarters here.
Before joining Data Domain, Slootman focused on application development and infrastructure products as a senior vice president of products operations at Borland Software. He also spent seven years at Compuware as general manager of UNIFACE in Amsterdam and as general manager of the EcoSystems division in Campbell, CA.
Today, his expertise includes enterprise infrastructure and software, which is the focus of the Web-based platform that Luddy developed at San Diego’s Service-now.com. Luddy, who founded Service-now.com after leaving Peregrine Systems in 2002, will guide the company’s product strategy and evolution as chief product officer.
Service-now generated $86 million in revenue last year, and Luddy says the company just passed the $100 million mark in terms of contracts for this year. “We’re currently growing at about 18 percent a quarter, which puts the company on a path to double every year for … Next Page »
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