San Diego Business Journal

ServiceNow Relocates Headquarters to Santa Clara

By Mike Allen Thursday, January 16, 2014

ServiceNow, a software-as-services provider to larger companies that was founded in San Diego in 2004, relocated its headquarters office to Santa Clara in the fourth quarter of last year to accommodate most of its management team who reside in the Bay Area, said a contracted company spokeswoman.

The firm, one of the area’s fastest growing public companies, said it will continue to maintain the biggest part of its staff here at an office in University Towne Center, which houses about 400 employees. ServiceNow’s worldwide employment is about 1,600, up from about 1,100 a year ago, the spokeswoman said.

Founder Fred Luddy, who also holds the title of chief product officer, continues to work in San Diego, but travels regularly to Santa Clara, the spokeswoman said.

According to a March securities filing, ServiceNow signed an 11-year lease for a 149,000 square foot building in San Jose in late 2012. Earlier that year, it signed an eight-year lease on a 95,000 square foot building in San Diego. The company said it spent about $13.3 million in rent in 2012.

ServiceNow said its principal offices are in Amsterdam, Boston, London, New York, San Diego, San Jose, Seattle and Sydney, according to the securities filing.

The company that provides its IT services through the cloud went public in July 2012, with its stock trading on the New York Stock Exchange under the ticker NOW. At Jan. 16, shares closed at $61.89, a new high, giving it a market cap of about $8.6 billion.

For the third quarter, ServiceNow reported nine-month revenue of $299.4 million, up from $168.5 million in the like period of 2012. The nine-month net loss was $49.5 million, compared with a net loss of $27.4 million for the like period in 2012.

The company is scheduled to report its fourth quarter Jan. 29.