Vendor lineage
ServiceNow - the help desk that became the workflow of the enterprise
Founded alone, at fifty, by a chief technology officer whose previous company had collapsed in accounting fraud; a ticketing system that grew into the platform other systems are wired through.
ServiceNow is an American cloud software company founded in Santa Clara in 2004 as Glidesoft, whose IT service management platform became the workflow layer for enterprise operations.
The company began as a personal recovery. Fred Luddy had been chief technology officer of Peregrine Systems for thirteen years when it collapsed in an accounting fraud and filed for bankruptcy in September 2002, taking with it, by one account, some 35 million dollars of his own stock. In June 2004, two weeks before turning fifty, he incorporated Glidesoft in California with himself as the only employee. The product was a help desk: a ticketing system, a configuration database and a workflow engine, delivered from the web, one instance per customer, at a time when the idea of running IT operations on somebody else's servers was regarded as reckless.
He gave it away at first, to find out what was broken, and he had learned at Peregrine exactly how wide the gap was between what enterprise software promised and what it did for the people who used it. The first paying customer was a small software vendor; a seed round of 2.5 million dollars arrived in 2005; the name changed in 2006 to say what the company was. It was profitable early and it nearly sold itself far too soon. Frank Slootman took over as chief executive in 2011, the company listed in June 2012 at a valuation of about two billion dollars, and it is now an S&P 100 constituent with revenue above thirteen billion.
What it turned into is more interesting than the numbers. A help desk records what is broken and who is fixing it. Once that record is authoritative and everything else - the asset inventory, the change approvals, the security incidents, the vendor tickets - is wired into it, the ticketing system becomes the place where the organisation's operations are actually decided. ServiceNow's growth was the discovery that the workflow around the ticket was worth more than the ticket, and that whoever holds the workflow holds the enterprise's process. For the networking and security practitioner, it is where the incident is opened, where the change window is approved, and where the audit trail lives.
The origin belongs beside the Nortel entry's accounting scandal and the Fujitsu entry's record. A company was built by someone who had watched, from inside, what happens when the record an organisation runs on cannot be trusted, and who set out to make the operational record the thing you could.
- ServiceNow's 2012 Form S-1, filed with the SEC: Frederic B. Luddy founded ServiceNow in June 2004 and served as president and chief executive until May 2011; from April 1990 to October 2003 he was chief technology officer of Peregrine Systems, an enterprise software company that filed for Chapter 11 protection in September 2002; Frank Slootman became chief executive in 2011
- Wikipedia: founded as Glidesoft by Fred Luddy in 2003 and incorporated in California in 2004; listed on the New York Stock Exchange, a constituent of the S&P 100 and S&P 500; revenue 13.28 billion dollars in 2025 with 29,187 employees
- History of ServiceNow: the Peregrine collapse wiped out approximately 35 million dollars of Luddy's personal stock; Glidesoft was incorporated on 24 June 2004 with Luddy as sole employee; the first paying customer was reportedly a San Francisco online-casino software vendor; the product was a ticketing system, a configuration database and a workflow engine in a single instance per customer; JMI Equity seeded about 2.5 million dollars in 2005; the company renamed itself in 2006 and priced its IPO on 29 June 2012 at 18 dollars, raising about 210 million at a roughly 2 billion valuation
- Sequoia Capital, on the founding: bankrupt after the company where he had worked imploded, Luddy started over as a first-time founder at fifty; the bootstrapped company's infrastructure began buckling under its own success, and the team later came close to selling the company far too early