DigitalOcean Appoints Chris Merritt to its Board of Directors

Rhea-AI Summary

DigitalOcean Holdings, Inc. (NYSE:DOCN) has appointed Chris Merritt to its board of directors, bringing extensive experience in global revenue operations, especially with small and medium-sized businesses (SMBs). Previously serving as Chief Revenue Officer at Cloudflare, Merritt's expertise is expected to bolster DigitalOcean's go-to-market strategy. CEO Yancey Spruill expressed enthusiasm about Merritt’s unique insights in navigating the cloud landscape for SMBs. Merritt highlighted the significant growth opportunities in the cloud sector for smaller enterprises, especially as larger players focus on bigger clients. DigitalOcean aims to empower SMBs with simplified cloud solutions, enhancing their competitive position both locally and globally.

Positive

• Appointment of Chris Merritt expected to enhance board's strategic direction.
• Merritt's extensive experience with Cloudflare may improve revenue strategies.
• Focus on SMBs presents significant market growth opportunities.

Negative

• None.

Brings broad, global perspective and deep go-to-market experience consistent with company’s long-term growth objectives

NEW YORK--(BUSINESS WIRE)-- DigitalOcean Holdings, Inc. (NYSE:DOCN), the cloud for SMBs and startups, today announced the appointment of Chris Merritt to its board of directors. Chris brings decades of industry and global experience that will enable him to provide unique guidance as DigitalOcean continues to deliver simple, cost-effective cloud solutions designed to help the world’s small and medium-sized businesses grow.

"We are excited to welcome Chris to our board,” said Yancey Spruill, CEO of DigitalOcean. “With a broad set of experiences generating revenue with SMBs, across multiple industries and geographies, and different stages of scale, Chris will add valuable insights to the DigitalOcean board as we continue to build out a go-to-market effort.”

For the last ten years, Merritt served as Chief Revenue Officer and President of Field Operations of Cloudflare, where he led worldwide customer and revenue operations, giving him a relevant perspective apt for DigitalOcean’s growing global customer base.

Before Cloudflare, Chris held senior leadership roles at several global companies, including FedEx (Kinkos), Monster, and Yahoo!. Chris earned a degree in Industrial Engineering, Magna Cum Laude, from Auburn University and spent time at MIT’s Sloan Management School.

“I am excited and grateful for the opportunity to help DigitalOcean continue on its already remarkable trajectory and reach its full potential,” said Merritt. “The cause of helping to solve problems for SMBs, who need to maximize their limited resources, is not only a noble one but presents an incredible market opportunity. As large cloud players continue to pull themselves up to meet the needs of large enterprises, the real estate in the cloud space for SMBs is massive, growing, and global in scale. Small and medium-sized businesses need to be able to compete both locally and globally, and DigitalOcean’s platform is unparalleled in enabling them to do just that.”

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 small and medium-sized businesses (SMBs) 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.

Forward-Looking Statements

This press 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. These forward-looking statements may be identified by their use of terms and phrases such as “anticipate,” “enable,” “expect,” “will,” “believe,” “continue” and other similar terms and phrases. The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by these forward-looking statements, including those factors contained in the “Risk Factors” section of our SEC filings. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230418005578/en/

Media Contact

Spencer Anopol

press@digitalocean.com



Investor Contact

Rob Bradley

investors@digitalocean.com

Source: DigitalOcean Holdings, Inc.

FAQ

What is the significance of Chris Merritt's appointment to DigitalOcean's board?

Chris Merritt's appointment is significant as it brings valuable insights and global revenue operations experience, particularly in catering to the small and medium-sized business (SMB) market.

How does Chris Merritt's background benefit DigitalOcean?

Merritt's background, especially his role at Cloudflare, equips him with a relevant perspective on generating revenue and addressing the needs of SMBs, aligning with DigitalOcean's growth objectives.

What market opportunities did Merritt identify for DigitalOcean?

Merritt identified the massive, growing, and global market opportunity for SMBs in cloud solutions, particularly as larger cloud providers focus on larger enterprises.

Who is the current CEO of DigitalOcean?

The current CEO of DigitalOcean is Yancey Spruill.