Veeva Systems CEO Peter Gassner talks to Forbes about why his company is the darling of the stock market: So how did he engineer this, and how did he come to leave Salesforce.com and push off on this own?
- Stellar financials. Veeva is the largest cloud company to go public in revenue, is the most profitable, and has high potential for growth.
- Industry applications. He saw the potential for cloud computing early on, especially for business enterprises. For industry-specific applications, the cloud is even more valuable, because companies can "combine" them with industry-wide data. Life sciences, where pharmaceuticals is housed, is a large industry with a lot of needs, and that is what Gassner wanted.
- Complementary partners. Matt Wallach is verse in industry technology, while Gassner brings in cloud computing. Together they have both US west and east coasts covered, plus international markets. Not just Wallach, Gassner also partners with Salesforce.com.
- Mobile devices. Loading up Veeva's applications on an iPad makes the work of sales staff more effective and efficient, because it can access the cloud and draw on industry data.