ServiceNow combined a strong founder, a proven product, and a booming industry segment: it would triple its revenues once, twice, and then some. Besides, the skeptical case against a ServiceNow investment underestimated the value of Sequoia’s activist input. Luddy and his team had built excellent software, but other parts of the business lagged. If Leone and Grady could fix functions such as finance and sales, the company’s potential would be unbounded. Grady felt so confident about ServiceNow’s prospects that he had almost dispensed with the hallowed Summit procedure of modeling ServiceNow’s
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