NetSuite going for IPO
NetSuite’s Going Public, Looking for $1 Billion Valuation
Larry Ellison (Oracle) owned company NetSuite is the seen as the next big Software as a Service (SaaS) player.
NetSuite has raised over $100 million to date, and is looking to raise another $100 million in the IPO in exchange for 10% of the company.
That’s the US way to do it, raise the big money and go for it.
Though in this space I think the gap of what you can do as a mini-multinational and what you can do as the big US company is much closer.
Stay tuned.
blog
In NZ, Netsuite is linked back to the MYOB group in Australia. So far they have proved that accountants don’t understand much about actually generating sales or anything related to CRM.
As I understand it the roll out plan for NZ was via the MYOB food chain and I’ve been waiting but no real sign of growth because of the disconnect between the world of accounting and actually selling a product or service.
It will take a lot more than $ to make this one a success. They need a smarter rollout strategy -like a better sales channel.
Arguably it also has the influence of the Oracle culture as a monkey on its back as well. The local Oracle vendors were especially hazy on Netsuite when asked about availability which was also not a good sign.
On a more positive note it is an IPO and may help to build investment confidence in the market and SAAS as well. More choices are better choices as there is no single right answer for CRM.
Why would MYOB buy into NetSuite? Surely NetSuite is a threat to MYOB’s business in Australia/New Zealand. Is there any possibility that this is a defensive move, albeit an expensive one to slow or at least have some control of how NetSuite targets the market here? Could it be that MYOB is fishing for a takeover suitor?
Lack of a SaaS strategy from MYOB makes this a defensive move.
What happens to Netsuite & Friends when the next software company comes out with the most “forward†thinking fully integrated Internet based business application? What will happen to the billion dollars of investment money?
“Good is only good as what you know to be good, if you don’t know any better you won’t know how “good†really can be.†There are over 20 million small businesses in America today with 80-90 percent family owned. How many can afford the high cost of technology that Netsuite & Friends charge?
It’s only a matter of time. Stay tuned…