ServiceNow overview
ServiceNow sells cloud software that large organizations use to route and automate internal work. When an employee reports a broken laptop, requests access to an application or asks HR a question, ServiceNow records the request, assigns it to the right team, tracks it against service targets and triggers the steps needed to resolve it. The company began with ServiceNow IT Service Management for corporate help desks and has extended the same approach to IT operations, security, customer service, HR, legal, procurement and finance, all running on the ServiceNow AI Platform.
Fred Luddy, a former chief technology officer of the San Diego software maker Peregrine Systems, incorporated the business as Glidesoft in June 2004. He built a platform for creating business applications that ran in a web browser, and IT service management became its first major use. Luddy was the only employee until mid-2005, when a $2.5 million investment from JMI Equity let the company hire five people, and it took the name Service-now.com in 2006. By 2007 it reported about $13 million in annual revenue.
Growth accelerated under professional management. Frank Slootman became chief executive in 2011, and the company went public on the New York Stock Exchange in June 2012 under the ticker NOW, then moved its headquarters from San Diego to Santa Clara, California. John Donahoe, a former eBay chief executive, ran ServiceNow from 2017 until Bill McDermott, previously CEO of SAP, took over at the end of 2019. Revenue passed $10 billion in 2024 and reached about $13.3 billion in 2025.
Under McDermott, ServiceNow has repositioned itself around AI. It added Now Assist generative AI features in 2023, began calling its core platform the ServiceNow AI Platform in 2025 and introduced AI Control Tower to govern AI agents from many vendors. It also made its largest acquisitions: Moveworks, an AI assistant for employee support, which it agreed to buy for $2.85 billion in 2025, then identity security company Veza for about $1.2 billion and cyber exposure management company Armis for about $7.6 billion in 2026. In 2026 it launched ServiceNow Otto, which brings Now Assist, Moveworks and other AI features together in one assistant.
ServiceNow had about 8,700 customers and 29,187 full-time employees at the end of 2025, and it split its stock five for one that December.
Software by ServiceNow
2 products profiled, from ServiceNow AI Platform (2006) to ServiceNow IT Service Management (2006).
ServiceNow history and milestones
- 2004
Fred Luddy incorporates Glidesoft in California to build a platform for web-based business applications.
- 2005
JMI Equity invests $2.5 million, letting the one-person company hire its first five employees.
- 2006
Glidesoft changes its name to Service-now.com.
- 2011
Frank Slootman becomes CEO, and Fred Luddy moves to the role of chief product officer.
- 2012
ServiceNow goes public on the New York Stock Exchange in June under the ticker NOW.
- 2017
Former eBay chief executive John Donahoe becomes ServiceNow’s CEO.
- 2019
Former SAP CEO Bill McDermott is named CEO and takes over from Donahoe at the end of the year.
- 2023
ServiceNow introduces Now Assist, generative AI features built into its workflow products.
- 2025
ServiceNow renames its platform the ServiceNow AI Platform, completes its Moveworks deal and splits its stock five for one.
- 2026
ServiceNow completes its acquisitions of Veza and Armis and launches the ServiceNow Otto AI assistant.
Who founded ServiceNow?
Fred Luddy
Founder; CEO from 2004 to 2011 and chief product officer until 2016
Fred Luddy grew up in New Castle, Indiana, and attended Indiana University Bloomington before leaving to concentrate on computer programming. He worked at Amdahl, co-founded a company called Enterprise Software and became chief technology officer of Peregrine Systems, whose accounting fraud wiped out his personal fortune in the early 2000s.
Luddy founded ServiceNow in 2004, shortly before his 50th birthday, and wrote much of its early software himself. He served as president and CEO until 2011 and as chief product officer until 2016, and he remains a member of the board. Indiana University’s Luddy School of Informatics, Computing and Engineering carries his name after his donations, and he is a co-owner of the World TeamTennis league.
How ServiceNow makes money
ServiceNow earns nearly all of its revenue from subscriptions. Customers sign multiyear contracts for workflow products such as IT service management, customer service management and HR service delivery, typically priced per fulfiller, meaning the IT agents, service staff or HR specialists who work on requests, with premium editions adding generative AI features. In the first half of 2026, subscriptions made up about 97 percent of total revenue, and the rest came from professional services and training.
The company grows mainly by selling additional products to large enterprises and government agencies that already use it. At the end of June 2026, 658 customers were paying more than $5 million a year in annual contract value. A large network of consulting and implementation partners configures and extends the platform for customers.
Who owns and runs ServiceNow?
Bill McDermott, the former CEO of SAP, has been ServiceNow’s chief executive since late 2019 and is also chairman of the board; in December 2025 the company extended his employment agreement through 2030. Gina Mastantuono is president and chief financial officer, and Susan Bostrom, a former Cisco executive, is lead independent director. Founder Fred Luddy remains on the board. ServiceNow is a public company listed on the New York Stock Exchange and is owned by its shareholders, including large institutional investors.
- Bill McDermottChairman and chief executive officer
- Gina MastantuonoPresident and chief financial officer
- Fred LuddyFounder and board member
- Susan BostromLead independent director
ServiceNow: frequently asked questions
Who founded ServiceNow?
ServiceNow was founded by Fred Luddy, a software engineer and former chief technology officer of Peregrine Systems. He incorporated the company as Glidesoft in California in June 2004, renamed it Service-now.com in 2006, and served as chief executive until 2011 and as chief product officer until 2016.
Who owns ServiceNow?
ServiceNow is a public company listed on the New York Stock Exchange under the ticker NOW, so it is owned by its shareholders, including large institutional investors. Founder Fred Luddy still serves on the board, and chief executive Bill McDermott is also chairman.
Who is the CEO of ServiceNow?
Bill McDermott has been CEO of ServiceNow since late 2019 and is also chairman of the board. He previously led SAP, first as co-CEO from 2010 and then as sole CEO from 2014 to 2019. In December 2025 ServiceNow extended his employment agreement through the end of 2030.
Where is ServiceNow headquartered?
ServiceNow is headquartered on Lawson Lane in Santa Clara, California, in Silicon Valley. The company was based in San Diego in its early years and moved its headquarters to Santa Clara after its initial public offering in 2012.
What software does ServiceNow make?
ServiceNow makes cloud workflow software built on the ServiceNow AI Platform. Its products cover IT service management, IT operations and asset management, security operations, customer service and field service, HR service delivery and low-code application development, along with AI assistants such as Now Assist and ServiceNow Otto.
How does ServiceNow make money?
ServiceNow makes about 97 percent of its revenue from subscriptions to its cloud software, usually sold on multiyear contracts priced by product and number of users. The rest comes from professional services and training. Total revenue was about $13.3 billion in 2025.
What companies has ServiceNow acquired recently?
ServiceNow’s largest recent acquisitions are Armis, a cyber exposure management company bought for about $7.6 billion in April 2026; Moveworks, an AI assistant company acquired for $2.85 billion in 2025; and identity security company Veza, bought for about $1.2 billion in March 2026. Earlier deals included the Canadian AI company Element AI in 2020.
Sources
- ServiceNow second quarter 2026 financial results, SEC filing sec.gov
- ServiceNow Form 10-Q for the quarter ended June 30, 2026, SEC sec.gov
- ServiceNow 2026 proxy statement, SEC sec.gov
- ServiceNow IPO prospectus (2012), SEC sec.gov
- ServiceNow, Wikipedia en.wikipedia.org
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