DigitalOcean Appoints Paddy Srinivasan as Chief Executive Officer
18 January 2024 - 1:00AM
Business Wire
Proven cloud technology executive appointed to
lead DigitalOcean’s next phase of innovation and growth
DigitalOcean Holdings, Inc. (NYSE: DOCN), the developer cloud
optimized for startups and growing digital businesses, today
announced that the Company's Board of Directors has appointed Paddy
Srinivasan as the Company’s new Chief Executive Officer and as a
member of its Board of Directors. Srinivasan will start on February
12, 2024, and will participate in the Company’s Q4 '23 Earnings
call on February 21, 2024. With an impressive background in cloud
technology and a successful track record of operational execution
and delivering strong financial results, Srinivasan is set to steer
DigitalOcean through its next phase of innovation and growth.
Srinivasan is joining DigitalOcean from GoTo, a $1B+ revenue
SaaS company and provider of cloud communication and IT management
software, where he served as CEO. His strategic vision, technical
acumen and unwavering commitment to addressing developer needs
makes Srinivasan an ideal leader to advance DigitalOcean's mission
of simplifying cloud computing so that businesses can dedicate more
time to building software that transforms the world. Across his 25+
year career, Srinivasan has consistently excelled in building
products that customers love, while scaling businesses that have
enduring value. The breadth of his experience in product and
technology leadership includes success in both entrepreneurial
endeavors, with his co-founding of Opstera, and in the world’s
largest technology companies, including Oracle and Microsoft. While
at GoTo (formerly LogMeIn), his roles included Chief Executive
Officer; Chief Product and Technology Officer; SVP Products and
General Manager; and VP Products and Engineering. Prior to GoTo,
Srinivasan was General Manager for Data, Machine Learning Platform
Services, Alexa AI, at Amazon.
“We are thrilled to welcome Paddy to DigitalOcean,” said Warren
Adelman, Executive Chairman of DigitalOcean’s Board of Directors.
“Paddy’s entire career has centered on providing simple, powerful,
and scalable technology solutions. His extensive product-led growth
experience and proven technical leadership will enable us to
execute our strategic initiatives and propel DigitalOcean to expand
its large and loyal customer base while increasing the value we
provide those customers, further cementing the company's position
as the go-to cloud provider for developers at the world’s most
innovative startups and growing businesses.”
Srinivasan has the right experience and perspective for
DigitalOcean’s target market. He has a deep understanding of the
developer experience and is uniquely suited to guide the Company to
address the evolving technical needs of developers in the world's
rapidly expanding market of startups and growing digital
businesses. Srinivasan started his career as a developer at
Microsoft and held increasingly senior product and technology
leadership roles. In addition, he successfully founded, led as CEO,
and ultimately sold cloud monitoring and managed service provider
Opstera to Avanade (a Microsoft-Accenture company).
“I am deeply honored to be joining the DigitalOcean team,” said
Srinivasan. “DigitalOcean has established itself as a critical
player in the cloud ecosystem that participates in a large and
growing segment of the market and differentiates itself with a
dedication to simplicity in the cloud, providing solutions that are
tailored to the needs of developers in small and growing digital
businesses. I look forward to collaborating with the talented team
at DigitalOcean to continue to deliver a full portfolio of
easy-to-use, cost-effective and highly supported cloud solutions
for our customers, enabling them to realize their ambitions and use
technology to fuel their growth.”
Srinivasan takes the helm from outgoing CEO Yancey Spruill, who
has successfully led DigitalOcean since 2019, having taken the
Company public, driven material improvements in the Company’s
financial profile, completed several accretive acquisitions, and
materially expanded the Company’s customer base. Spruill will step
down from his positions as CEO and a member of the Company’s Board
of Directors upon Srinivasan’s start date.
Forward-Looking
Statements
This release may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Any forward-looking statements contained in this release are
subject to known and unknown risks, uncertainties, assumptions, and
other factors that may cause actual results or outcomes to be
materially different from any future results or outcomes expressed
or implied by the forward-looking statements. Further information
on these and additional risks, uncertainties, assumptions and other
factors that could cause actual results or outcomes to differ
materially from those included in or contemplated by the
forward-looking statements contained in this release are included
under the caption "Risk Factors" and elsewhere in our Annual Report
on Form 10-K for the year ended December 31, 2022, our Quarterly
Reports on Form 10-Q filed for the quarters ended June 30, 2023 and
September 30, 2023, and other filings and reports we make with the
SEC from time to time.
We operate in a very competitive and rapidly changing
environment. New risks and uncertainties emerge from time to time,
and it is not possible for us to predict all risks and
uncertainties that could have an impact on the forward-looking
statements contained in this release. The results, events and
circumstances reflected in the forward-looking statements may not
be achieved or occur. The forward-looking statements made in this
release relate only to events as of the date on which the
statements are made. We assume no obligation to, and do not
currently intend to, update any such forward-looking statements
after the date of this release.
About DigitalOcean
DigitalOcean simplifies cloud computing so businesses can spend
more time creating software that changes the world. With its
mission-critical infrastructure and fully managed offerings,
DigitalOcean helps developers at startups and growing digital
businesses rapidly build, deploy and scale, whether creating a
digital presence or building digital products. DigitalOcean
combines the power of simplicity, security, community and customer
support so customers can spend less time managing their
infrastructure and more time building innovative applications that
drive business growth. For more information, visit
digitalocean.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240117457437/en/
Investors: Rob Bradley investors@digitalocean.com
Media: Spencer Anopol press@digitalocean.com
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