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GLOBAL 2OOO
Now’s product map could thrive within VMware,
and the sale would mean inancial security—as did
much of the board. But Sequoia saw that as “giving
the company away,” in Leone’s words. “We thought
ServiceNow had a great product-market it, a great
leadership team,” he adds. “hey’re also in a winner-
take-all market—you cannot name the number two
company to Salesforce.”
Leone saw an easy path to $10 billion and put
his money where his mouth was, ofering to buy out
anyone at the VMware price. Ultimately, no one bit.
At irst it was a tough road. For three or four
months, Sequoia was not exactly the best friend of
the management team, says Leone. But then slow-
ly, the company saw more and more traction in
the marketplace. he company went public in June
2012, but it still wasn’t any better of than if it had
sold to VMware.
Armed with cash from the ofering, as well as
the ability to issue new shares, Slootman began buy-
ing companies to acquire new underlying technol-
ogy and—much like Salesforce, Microsot and just
about every major technology player—to invest
in artiicial intelligence. ServiceNow began grow-
ing even faster. It had essentially become a one-stop
shop for CIOs, centralizing and automating many
common IT help-desk tasks like tracking incidents,
recovering passwords, requesting equipment, set-
ting up new user accounts, troubleshooting and
managing IT systems and responses through simply
designed service portals.
By 2016, revenues hit $1.39 billion and the mar-ket cap $12.34 billion.
But just as Leone had
predicted that the com-
pany would get to $10
billion, the ServiceNow
team saw they could
become much, much
bigger. Why just ser-
vice IT departments?
Ser vice Now’s sotware
and reputation meant
it could branch out
into other areas, from
customer service to
human resources.
And Luddy had set
the tone. Just as Luddy
didn’t think he could
help the company grow
past its early stages,
Slootman realized that
moving deeper into other areas like human resourc-
es and security meant ServiceNow needed a difer-
ent CEO. Last year the company hired former eBay
chief John Donahoe, with Luddy kicking himself
upstairs from chief product oicer to chairman, set
to take efect this month.JOHN DONAHOE most certainly doesn’t have an
IT background: Before eBay, where he paid particu-
lar attention to PayPal, he was the CEO of the con-
sulting giant Bain. But he has a grander vision of the
same eureka moment that Luddy had 15 years ago:
the need to make complex processes elegant and
simple. “Millennials say, Why can I reset my PayPal
password in 20 seconds, but to reset my work email
takes 20 minutes and a phone call?” Donahoe says.
“Consumers want one seamless experience, and
employees are the same way.”
So Donahoe is taking ServiceNow’s networked,
easy-to-use IT support system to every corner of an
enterprise. Internally called “emerging products,”
these services help connect every department—
from human resources and security to customer
service, marketing, legal, inance and facilities—to
one shared online database where an organization
can analyze and take action on information.
he goal: quintuple sales to $10 billion by be-
coming the always-on engine behind an employ-
ee’s work life, from the moment he or she is hired.
ServiceNow last year launched a mobile app that
handles the complete journey from employees’ on-
boarding through their day-to-day work, reloca-58 | FORBES ASIA JUNE 2018TCL 1060
The world’s third-largest television
maker is pumping almost $7 billion
into a new factory in Shenzhen,
where its stock is listed, to ramp up
production of its 8K and organic
light-emitting-diode (OLED) screens.
Its home base of China is the world’s
largest consumer of 8K—the current
highest resolution in ultra-high-defi-
nition televisions—and the company
plans for a global takeof. It sold more
than 23 million liquid-crystal-display
televisions last year and posted overall
revenue of $16.5 billion, up 3% from- Besides screens, TCL is also
looking to create a clearer brand
image in the U.S: It has partnered
NBA star Giannis Antetokounmpo in a
product-endorsement deal. One of the
commercials features Antetokounmpo
slam-dunking while wearing a TCL
jersey.