A Buying Opportunity in ServiceNow?

On Feb. 27,

Slootman has led ServiceNow for six years, taking the reins from ServiceNow founder Fred Luddy in 2011. In that time, Slootman led ServiceNow through its initial public offering in 2012 and grew revenue more than tenfold from $128 million in 2011 to $1.39 billion in fiscal 2016, while ServiceNow’s stock rose more than 400% from its IPO price to its all-time high achieved this month. The company has also successfully expanded its total addressable market to roughly $60 billion by moving beyond its core ITSM product and into sticky product verticals such as ITOM and enterprise service management.

We think the company should be in good hands with Donahoe, who began his career at Bain and Company before eventually becoming CEO at both Bain and eBay. In his time at eBay, Donahoe made a string of successful moves, including the acquisition of properties such as StubHub and spinning off payments processor PayPal, more than doubling the share price in his seven-year run.

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