A Brief History of ServiceNow, Inc. (NOW)

ServiceNow, Inc., commonly known as ServiceNow, is a U.S.-based cloud computing company that has carved a significant niche in the enterprise software industry. Founded in 2003, the company has experienced substantial growth and transformation, becoming a key player in IT service management and expanding into various industries and business functions.

2003: Founding

ServiceNow was founded by Fred Luddy, who had previously served as CTO at Peregrine Systems and Remedy Corporation. Luddy started the company with a vision to create a platform that would simplify and streamline enterprise IT service management (ITSM) tasks.

2004: First Product Launch

The company's first product was a cloud-based ITSM tool that offered features such as incident, problem, and change management. The product was designed to be user-friendly and customizable, setting it apart from existing solutions.

2007: Rapid Growth

By 2007, ServiceNow had begun to gain traction, attracting significant customers and rapidly expanding its client base. The company’s unique Software-as-a-Service (SaaS) model helped it to stand out in the crowded ITSM market.

2012: Initial Public Offering (IPO)

In June 2012, ServiceNow went public on the New York Stock Exchange under the ticker symbol "NOW." The IPO was a major milestone, marking the company's transition from a fast-growing startup to an established public entity.

2013-2018: Expansion and Diversification

• 2013: ServiceNow expanded its platform to include additional business processes such as human resources (HR), finance, and customer service management.
• 2014: The company acquired several smaller firms to enhance its offerings, including Neebula, a cloud-based service modeling company.
• 2015: ServiceNow introduced the Now Platform, further diversifying its product portfolio and enabling users to build custom applications.
• 2017: The company hit $1 billion in annual revenue, underscoring its rapid growth and success in the enterprise software market.
• 2018: ServiceNow continued its expansion into new industries, strengthening its foothold in healthcare, finance, and government sectors.

2019-Present: Continued Innovation and Leadership

• 2019: Bill McDermott, former CEO of SAP, joined ServiceNow as its CEO, bringing a wealth of experience in enterprise software.
• 2020: Amid the COVID-19 pandemic, ServiceNow launched a suite of applications to help organizations manage their return-to-work strategies.
• 2021: The company surpassed $5 billion in annual revenue and continued to make strategic acquisitions to bolster its capabilities.
• 2022: ServiceNow expanded its AI and automation capabilities, focusing on enhancing user experience and operational efficiency.

Who Owns ServiceNow, Inc. (NOW)

ServiceNow, Inc. (NOW) is a publicly traded company listed on the New York Stock Exchange (NYSE). The ownership of the company is distributed among several institutional investors, mutual funds, individual shareholders, and company insiders. Key stakeholders in ServiceNow include:

• Institutional Investors: Large institutional investors hold a significant portion of ServiceNow's shares. These include investment firms, pension funds, and insurance companies.
• Mutual Funds: Various mutual funds, which aggregate individual investors’ capital to buy large quantities of shares, also have substantial ownership in ServiceNow.
• Company Insiders: Executives and board members, including the CEO, CFO, and other high-ranking officers, often hold shares or stock options in the company.
• Individual Shareholders: Individual investors, including retail investors, also own a portion of the company. These shareholders buy and sell the stock on the public market.

As of the latest filings, notable institutional investors include:

• The Vanguard Group: One of the largest asset management firms in the world, Vanguard owns a significant percentage of ServiceNow's outstanding shares through its various funds.
• BlackRock: Another major investment management corporation, BlackRock holds a considerable stake in the company.
• Fidelity Investments: Fidelity is known for its mutual funds and retirement accounts, and it also maintains a notable shareholding in ServiceNow.

These institutional investors play a crucial role in the corporate governance and strategic direction of ServiceNow through their significant voting power in shareholder meetings. Additionally, company insiders who are major shareholders include:

• Bill McDermott: The CEO of ServiceNow, who likely owns shares or options as part of his compensation package.
• Other Executive Officers: These include senior leaders such as the CFO and other top executives who hold equity in the firm.
• Board Members: Members of the Board of Directors often hold shares or options, aligning their interests with those of other shareholders.

ServiceNow, Inc. (NOW) Mission Statement

ServiceNow, Inc. (NOW) is a global leader in cloud-based solutions, committed to streamlining and innovating business workflows. The company’s mission is to make the world of work, work better for people. Central to this mission, ServiceNow focuses on creating digital workflows that deliver seamless experiences for both employees and customers.

Key elements of ServiceNow's mission statement include:

• Innovation: Continuously improving and evolving their platform to meet the changing needs of businesses.
• Efficiency: Enabling organizations to streamline processes, enhance productivity, and reduce costs.
• Customer Focus: Ensuring that customer satisfaction is at the forefront of their services.
• Global Impact: Delivering solutions that drive transformation and positive change across industries and geographies.
• Employee Empowerment: Creating tools and solutions that help employees perform their best and enhance their experience at work.
• Seamless Integration: Offering a unified platform that integrates with existing systems, ensuring a smooth transition and operation.

By adhering to these principles, ServiceNow aims to create a more efficient, productive, and satisfying work environment for all stakeholders involved.

How ServiceNow, Inc. (NOW) Works

ServiceNow, Inc. (NOW) is a leading American cloud computing company that specializes in providing digital workflows that create great experiences and unlock productivity for enterprises. The company's platform and solutions help transform manual, paper-based workflows into digital workflows. This transformation is essential for improving service delivery, increasing efficiency, and reducing costs.

Core Platform

The heart of ServiceNow's offerings is its Now Platform, a cloud-based platform that integrates a variety of applications. This platform allows businesses to seamlessly connect their digital workflows across departments. It provides a single system of record that enables organizations to automate and streamline processes, ensuring better consistency and accuracy.

Key Solutions

• IT Service Management (ITSM): This is one of the most popular solutions offered by ServiceNow. ITSM helps organizations manage their IT services efficiently, from incident management to problem management and change management.
• IT Operations Management (ITOM): ITOM solutions help in maintaining the health of IT infrastructure and services. It is crucial for ensuring operational efficiency and minimizing downtime.
• Customer Service Management (CSM): ServiceNow's CSM solutions help organizations provide excellent customer service by automating case management, tracking, and resolution processes.
• Human Resources Service Delivery (HRSD): This solution focuses on automating and improving HR workflows to enhance employee experiences. It includes modules for case management, onboarding, and employee self-service.
• Security Operations (SecOps): ServiceNow provides advanced tools for managing and responding to security threats. SecOps integrates with various security tools to streamline incident response and vulnerability management.

Automation and AI

ServiceNow leverages automation and artificial intelligence (AI) to enhance its platform capabilities. AI-driven tools such as Virtual Agents, Predictive Intelligence, and Machine Learning models help automate repetitive tasks, make data-driven decisions, and improve service delivery. These technologies are pivotal in enabling organizations to handle complex workflows with greater efficiency and accuracy.

Integration Capabilities

One of the standout features of ServiceNow is its integration capabilities. The platform can integrate with a wide range of third-party tools and systems. This flexibility ensures that organizations can connect their existing IT landscape with ServiceNow's digital workflows, thereby maximizing ROI from their technology investments.

Industry Solutions

ServiceNow also offers tailored solutions for specific industries such as healthcare, financial services, government, and telecommunications. These industry-specific solutions are designed to address the unique challenges and regulatory requirements of each sector.

Customer Success

The company emphasizes customer success by providing comprehensive support services, including implementation, training, and customer support. This ensures that clients can maximize the value they derive from ServiceNow's solutions and achieve their digital transformation goals effectively.

ServiceNow's approach to digital transformation through its comprehensive platform, key solutions, automation, and industry-specific offerings makes it a pivotal player in helping enterprises streamline their workflows and enhance productivity.

How ServiceNow, Inc. (NOW) Makes Money

ServiceNow, Inc. (NOW) is a leading provider of enterprise cloud computing solutions, specializing in digital workflows that optimize various business operations. The company generates revenue through multiple streams, leveraging its comprehensive suite of products and services.

• Subscription Fees: The primary source of revenue for ServiceNow is its subscription fees. Customers pay for access to ServiceNow’s extensive range of cloud-based software applications. These subscriptions often include various IT, employee, and customer workflows that help organizations manage and automate their operations.
• Professional Services: In addition to subscription fees, ServiceNow also earns money through professional services. These services include implementation, training, and consulting services to help businesses integrate and optimize ServiceNow solutions.
• Partner Ecosystem: ServiceNow has a robust partner ecosystem consisting of technology partners, resellers, and managed service providers. These partners generate additional revenue through reselling ServiceNow products and providing complementary services.
• Product Upgrades and Add-ons: Existing customers frequently purchase add-ons and upgrades to enhance their current capabilities within the ServiceNow platform. These additional features and modules generate incremental revenue.
• Customer Support Services: ServiceNow offers premium customer support services for an additional fee, providing clients with enhanced technical support and dedicated resources.

These revenue streams collectively contribute to ServiceNow’s strong financial performance, making it a significant player in the enterprise cloud computing market.