All Eyes on NetSuite: IPO and iPhone’s First On-Demand Business App

July 13, 2007 from AMR Research and written by Bruce Richardson – “NetSuite issued a press release on July 2 announcing it had filed a Form S-1 registration statement as a precursor to its initial public offering (IPO) expected late summer… Coincidentally, on the same day NetSuite unveiled its SuitePhone. Effective immediately, all NetSuite software is now accessible on Apple’s new iPhone as well as all Mac products…”

Bruce’s comments on the IPO and first impression of the new SuitePhone include:

• Oracle’s Larry Ellison controls nearly 75% of NetSuite
• NetSuite has accumulated a deficit of $193 million since it started 9 years ago
• The company on a nice ramp to break through the $100M sales barrier by the end of this year.
• Last quarter, NetSuite spent 54% of revenue on sales and marketing and 18% on product development. For the same period last year, it invested 75% in sales and marketing and 24% in development.
• Following Google: NetSuite to sell shares through an auction.
• Bruce predicts that the iPhone will drive demand for mobile business applications

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