September 22, 2003 — (WEB HOST INDUSTRY REVIEW) — The company formerly known as NetLedger, Inc. said late last week that it will change its corporate name to NetSuite, Inc. (netsuite.com)
r
r
The San Mateo, California-based company, which is majority-owned by Oracle (oracle.com) chief executive Larry Ellison, said the change is being driven by the success of the company?s NetSuite Integrated ERP/CRM/E-Commerce business application for mid-sized companies.
r
r
“Our name change from NetLedger to NetSuite is a natural evolution of the company,” said Zach Nelson, CEO of NetSuite. “While our financial applications are a key product differentiator, we are now better known for helping companies automate their end-to-end business processes. The vision of NetSuite to enable companies to manage their operations in a single, integrated solution permeates everything we do, and our name reflects that vision.”
r
r
Oracle helped launch NetSuite in 1999. Ellison resigned as NetSuite?s chairman in March as Oracle increasingly targets the small and mid-sized enterprise market.
r
r
The company also announced the release of NetSuite 9.0, which it said is the first application to directly embed UPS shipping tools to provide mid-sized companies with streamlined shipping management and order tracking capabilities.
