I have to say it again. NetSuite is just an outright cool company that simply gets the world the way it should be gotten. Not only do they have an excellent product and great people working for them but they have STYLE. They are the epitome of Christina Aguilera's Basic To Basics "Ain't No Other Man" lyrics
"You got soul, you got class.
You got style, you bad ass..."
They got all that, and they are.
What makes me say such things?
Well, they went ahead and put Oakland A's General Manager, Billy Beane, he of "Moneyball" fame, on their Board of Directors. How cool is that? Though I personally would have put Brian Cashman, GM of the Yankees, (I tell this to all of you who reside on other planets or in other dimensions) on the NetSuite board and I hope then maybe that salesforce.com has the good sense to do it, but I have to admit, that NetSuite pulled off a good one here.
Not that they exactly had slouches on their Board of Directors before.
The management team that sits on the BoD now includes founder CEO Zach Nelson, who I think, no kidding here, one of the smartest CEOs of any company in the United States and one of the most vital personalities among them. Evan Goldberg, founder and CTO of the company who is a resident genius when technology is involved and, while quieter than Zach without a doubt, has a presence in the industry that is also good - and bigtime.
Additionally, they have a gaggle of others who I don't know well who are primarily tech guys and VC types who I presume are competent managers of the moneys they've invested in NetSuite - money that I trust when NetSuite goes public sometime this year, will be seen as very well invested. Though only the market will tell us the result of that later on.
But, Billy Beane is Billy Beane, a celebrity par excellence and a man who can make a genuine contribution beyond just being a really cool name added to the Board. He is one of the savviest baseball GMs around, much as I hate to admit it, keeping his spending down, getting good pitching and building contenders is a strong suit. NetSuite is a strong suite and I would imagine if they keep your spending down and build a contender, you'd be happy too, though I can't figure out how to bring in good pitching here (NetSuite sales people? To stretch the analogy beyond recognition....)
As I said, NetSuite is going public this year. In December, TechCrunch reported that NetSuite was looking for a $1 billion valuation which seemed premised on a BusinessWeek article that said that NetSuite was looking for $100 million for 10% of the company. Initially, I thought that this might be a high number but upon reflection realized that with $70 million in revenue and enormous promise including being highly savvy about what the business world wants, this is not an outrageous number by any means. Salesforce.com's current market cap is $4.5 billion on revenues in FY 2005 (ending on January 31, 2006) of $310 million. So this isn't a real stretch on NetSuite's part.
Adding Billy Beane to the Board at this time pre-IPO couldn't be smarter. NetSuite continues to drive up their sex appeal and that coupled with their top notch improvements with version 11.0 make them rock. Money Ball has a whole new meaning now.