In 1998, Evan Goldberg used funding provided by Oracle’s executive chairperson, Larry Ellison, to found NetSuite. At that time, the company was named NetLedger. One can say that this was the first true cloud computing software company. In 2007, NetSuite went public. It was backed by an experienced leadership team and saw explosive growth. In 2007, the idea of software being delivered through the Internet was groundbreaking. The company’s run rate skyrocketed from a million to over a billion in short order as it pioneered SaaS technology.