Senior VP, Corporate Communications
NetLedger, the Pacesetter
ASP for Small Business, Celebrates Milestone Year
Strategic partnerships, breakthrough technology and
a rapidly-growing customer base firmly establish NetLedger
as a market leader.
San Mateo, CA. - November 30, 2000. NetLedger's addition
of e-commerce features in its 5.0 version marks the
latest of many milestone achievements the company has
reached since its launch in August of 1999.
In just over a year, NetLedger has established a rapidly-growing
customer base, released five major upgrades of the NetLedger
service, expanded internationally with NetLedger
Canada, and implemented significant alliances with partners
such as Yahoo!, ADP, Oracle, and OfficeMax. NetLedger's
track record of delivering an updated version every
10-12 weeks has allowed the company to continuously
provide its customers breakthrough functionality. Starting
with Web-based accounting as a core, NetLedger turns
the small business accounting system into a powerful
e-business tool. This tool delivers capabilities including
online commerce, expense reporting, online customer
ordering, online credit card processing, payroll, and
employee, customer and supplier remote access.
"NetLedger has had a consistent vision from its
founding in 1998: provide an integrated, powerful, easy-to-use
system to run a small business, giving it the tools
it needs to succeed in the Internet economy" said
Evan Goldberg, founder and chief executive officer of
NetLedger, Inc. "The addition of online commerce
capabilities is a major step towards a complete solution,
and it will be followed quickly by other major enhancements.
These new capabilities along with our open platform
and extensive technology partnerships allow a small
business to grow faster, streamline its operations,
and communicate in real time among its customers, employees,
In addition to major extensions to its service, NetLedger
has also announced several important alliances in the
past year, including Yahoo! Inc., who integrated NetLedger's
anytime, anywhere online business services into the
Yahoo!® Store, and ADP, who integrated NetLedger's
accounting solution with EasyPayNet SM, an online payroll
solution. NetLedger has signed an agreement with Oracle
to become the first small business solution on the Oracle
Internet platform. Companies such as Paytrust, OfficeMax
, OneCore.com, and Stamps.com are just a few of the
many other companies to integrate NetLedger with their
services, providing their customers with additional
benefits. NetLedger has also secured several dozen co-branding
and distribution partnerships in the past year. Most
recently, NetLedger has partnered with broadband-application
service provider, C3Communications to bring high speed
Internet connection to ASP users.
In keeping with the fast pace of technology, NetLedger
also pioneered the first XML standard designed specifically
for the small to medium business community: SMBXML.
This new standard has enabled NetLedger and other ASPs
to integrate, thus delivering enhanced business solutions.
As part of a fast and reliable Internet business service,
NetLedger launched a consolidated data center backed
by breakthrough technologies from Oracle, VA Linux and
Network Appliance. The data center has established NetLedger
as one of the world's largest Oracle deployment on Linux.
The launch of the data center attests to NetLedger's
commitment to delivering the ultimate small business
solution with the security, reliability, scalability
and capacity ever made available in today's marketplace.
NetLedger secured $20 million dollars in its last round
of financing from StarVest Partners L.P. Automatic Data
Processing Atlantic Inc. (ADP), and PaineWebber Group
Inc. Larry Ellison continued his support for NetLedger
in this round.
Over the next year NetLedger will remain focused on
its key priorities: round out the ultimate small business
system, accelerate customer acquisition, deliver fast
and reliable services, provide more value to each customer,
and grow a great company that's firing on all cylinders.
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Web site at www.netsuite.com.
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