NetSuite ramps up e-commerce capabilities
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NetSuite, a provider ofÂ hosted applications for midsize businesses, will announce Thursday that it has beefed up the electronic commerce capabilities of its software suite and has teamed up with online auction giant eBay Inc. in order to attract larger electronic retail (e-tail) customers.
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New features of the Apex programming language will allow customers more connections with other vendors' applications.
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eBay sellers have a new content management tool to help them post storefronts faster, thanks to a newly customized Macromedia toolset.
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For years, companies large and small have been convinced that if they want the sophisticated functionality of enterprise-class software like ERP and CRM systems, they must buy pre-packaged applications. And, to a large extent, that remains true.
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NetSuite 10.0 offers analysis tools to help businesses predict information about customers based on data they've already entered.
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NetSuite, a growing provider of on-demand CRM and ERP capabilities, has released Version 10 of its application suite, introducing a range of new analytical capabilities aimed at improving management visibility and customer profitability.
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New e-commerce and marketing tools will help small businesses sell their products and services online.
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NetSuite&#39;s initial public offering raised $185.4 million, close to double the amount the company originally forecast the IPO would generate and a positive sign for the market of hosted, software-as-a-service business applications.NetSuite, a provider of hosted applications for small and midsize organizations, sold 6.2 million shares of common stock at $26 per share via auction and its underwriters acted on their option to buy an additional 930,000 shares, the company said Wednesday.The $185.4 million is a gross amount from which underwriting discounts and expenses will be deducted, the company said. Moreover, 365,000 of the shares bought by the underwriters were owned by stockholders like NetSuite&#39;s CEO and chief technology officer, so the proceeds from those shares -- about $9.5 million -- won&#39;t go to the company.In the final IPO prospectus, NetSuite had estimated that, if the underwriters exercised their option in full -- as they did -- NetSuite&#39;s IPO net proceeds would be approximately $161.9 million.NetSuite initially set a range of $13 to $16 per share for its IPO but subsequently raised it and eventually set the price at $26 per share on Thursday of last week, the day when the stock started trading on the New York Stock Exchange under the &quot;N&quot; symbol.At midmorning Wednesday, the stock was trading at $34.85, down about 10 percent from its previous close. Its highest point so far is $45.98.Incorporated in 1998, NetSuite sells ERP (enterprise resource planning), CRM (customer relationship management) and e-commerce applications on a hosted, subscription-based model, in which customers access the software via the Internet and don&#39;t need to install it on their premises.This software-as-a-service model, championed by companies like Salesforce.com and Google, is considered a significant threat to the traditional approach from vendors like Microsoft of having customers implement software on their own PCs and servers.As of Sept. 30 of this year, NetSuite had over 5,400 active customers, according to its IPO prospectus . In 2006, the company had revenue of $67.2 million and a net loss of $35.7 million. In the first nine months of this year, it generated $76.8 million in revenue and racked up a net loss of $20.6 million, according to the prospectus.NetSuite plans to use its IPO proceeds to pay off an $8 million balance on a line of credit with Tako Ventures, an entity controlled by Oracle CEO Larry Ellison, and to possibly make acquisitions.As of Nov. 30, Ellison controlled about 60 percent of NetSuite&#39;s outstanding stock -- some 31.9 million shares -- but Ellison transferred those shares into a holding company, NetSuite Restricted Holdings. The move is meant to &quot;effectively eliminate&quot; Ellison&#39;s voting power and avoid potential conflicts of interests, according to the prospectus.NetSuite also plans to devote between $10 million and $15 million for capital expenditures, including the purchase of property, plant and equipment and the addition of a second data-center facility, and for working capital and other general purposes, including its international expansion. NetSuite currently provides its hosted applications out of a single data center, which the company admits in the prospectus is a risk that could harm its business should there be any service disruption at this facility.NetSuite also said it may use a portion of the net proceeds to acquire other businesses, products or technologies, although it doesn&#39;t have any agreements or commitments for any specific acquisitions at the moment. The money it doesn&#39;t spend will be invested in short-term, interest-bearing investment grade securities.&#160;
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The companyâs performance shows that it is making progress in its shift toward selling higher-margin software.
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Enterprise software giant's midmarket-focused service to compete with those of Salesforce.com, NetSuite and Oracle.
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NetSuite on Wednesday set the initial price of its stock at $26, greatly exceeding its original estimate.
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Server and software company prepares new foray into market for dot-com infrastructure.
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NetSuite Inc, a software maker majority-owned by Oracle Corp  Chief Executive Larry Ellison, on Tuesday raised the estimated price range for its initial public offering to $16 to $19 per share and said it is conducting the IPO as a modified Dutch auction.
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NetSuite's initial public offering raised nearly double the forecasted amount of money.
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The Linux seller plans to release the Netscape Enterprise Suite as open-source software in a bid to expand beyond its core product.
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Social networking features are popping up on auction and shopping sites, allowing visitors to compare notes and turn e-commerce into a social experience.
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Online marketplaces that offer eBay-like services for matching companies with freelance developers are attracting IT managers who want flexible workforces -- and lower labor costs.