ServiceNow: From Startup to World’s Most Innovative Company

The origin of ServiceNow and its impressive growth could be found in the remains of an IT software-management company called Peregrine Systems (Peregrine). Luddy was the CTO (Chief Technology Officer) of Peregrine. He worked with Peregrine for over 13 years, but in 2002, the company suddenly filed for bankruptcy. It was revealed that Peregrine had adopted fraudulent methods to inflate its revenue numbers and stock price over a two-year period. As a result, several of its top executives, including the CEO, went to prison. While Luddy was not charged with any wrongdoing, his US$35 million personal stake was wiped off overnight. “I really hated my job. Losing that money was absolutely the best thing that could have happened,” said Luddy. Rather than sulking over what happened, Luddy decided to work on a product that would make regular office work using IT simple for employees. .. ...