ServiceNow founder Fred Luddy says a recession that led companies to want to cut their IT expenses helped his business grow.

ServiceNow founder Fred Luddy says a recession that led companies to want to cut their IT expenses helped his business grow. Photo by File photo courtesy of ServiceNow

SERVICENOW

CEO: Frank Slootman.

Revenue: $100 million in fiscal 2011; $50 million in fiscal 2010.

No. of local employees: 150.

Investors: Fred Luddy, unnamed friends, JMI Equity.

Headquarters: Carmel Valley.

Year founded: 2004.

Company description: Provides software that helps big organizations deploy, manage, update and repair their information technology systems.

Software provider ServiceNow has doubled its business annually for the past five years, according to founder Fred Luddy...

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