In its second-largest acquisition, Amazon buys the company for $970 million.
Andy Lloyd, formerly CEO of e-commerce software provider Fluid Inc., assumes the role.
Business software vendor NetSuite Inc. announced this week that it has hired Andy Lloyd to direct the firm’s e-commerce efforts. Lloyd’s last role was as CEO of Fluid Inc., a vendor of e-commerce software used by six Internet Retailer Top 500-ranked e-retailers.
As general manager of e-commerce products, Lloyd will be responsible for e-commerce product development and business development efforts. “NetSuite can benefit from Andy’s leadership in the e-commerce space, and his ability to consistently execute new business initiatives and cultivate strategic product development,” says Zach Nelson, CEO of NetSuite.
Fluid more than doubled its annual revenue and improved profitability year-over-year under Lloyd’s leadership, NetSuite says. Lloyd also has acted as founder and CEO of Chariteam, a software used for online fundraising.
NetSuite programs are used by nine Top 500-ranked e-retailers, primarly for fulfillment, order management and customer relationship management tasks. NetSuite, which provides a broad range of business software to retailers and other organizations, has previously stated that it wants to become a bigger player in e-commerce and to go after larger e-retail accounts. “Our sweet spot has always been companies doing from $1 million to $5 million a year in revenue,” Darayush Mistry, senior director of product management, told Internet Retailer last year. “Now we’re looking to serve companies with revenue of up to $50 million.”
Lloyd says he ready to help expand NetSuite sign up more online retailers. “The opportunity to have a profound impact on the industry while driving new business for NetSuite was an opportunity that I could not pass up,” Lloyd says.