History

History of SciQuest On-Demand Procurement Software 


Bubble

  • 1995 SciQuest is founded
  • 1999 IPO — became public

Exploration

  • 2002 Signed first customers — GlaxoSmithKline and Genentech
    • Version 1.0
    • Acquired research tools companies — TextCo, NeoChem
    • Acquired HigherMarkets, Inc., based in San Francisco, CA
  • 2003 Embarked on “Take Private” process

Growth

  • 2004 Taken private
    • 90 employees
    • $260M transaction volume
  • 2005 Added Senior Vice President of Sales
    • 94 employees
    • $460M transaction volume
  • 2006 Positive cash flow
    • 118 employees
    • $850M transaction volume
  • 2007 EBITA Positive
    • 138 employees
    • $5.3B transaction volume