NetSuite CEO on IPO, Options and Ellison's Role
NetSuite began trading on the Nasdaq Thursday after its initial public offering. Chief Executive Zach Nelson told CNBC that the business-management software company is positioned "in the right place and the right time in the marketplace."
"If you take away option expensing, we're well on the path to profitability," the CEO said.
NetSuite, which re-priced its offering at $26 per share -- up from its previously estimated range of $19 to $22 -- is 74 percent-owned by Oracle boss Larry Ellison and his family.
But Nelson said Ellison -- who co-founded NetSuite -- will have minimal say in its management:
"Larry's role has changed over time...he put his shares in a 'lock-box' and relinquished control over the vote of those shares" over most day-to-day corporate matters.