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DigitalOcean Holdings, Inc. (NYSE:DOCN) has appointed Aaqib Gadit as its new Chief Revenue Officer (CRO), tasked with enhancing revenue-generating activities. This move reflects the company's achievement of over $650 million in annual recurring revenue and aims to propel growth towards $1 billion by 2024.
Gadit, previously co-founder and CEO of Cloudways, brings extensive experience in cloud services, particularly for small and medium-sized businesses (SMBs). His appointment signifies a strategic focus on streamlining operations and expanding DigitalOcean's market presence.
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Appointment of Aaqib Gadit as CRO to lead revenue generation efforts.
Current annual recurring revenue exceeds $650 million.
Aiming for $1 billion in revenue by 2024.
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None.
NEW YORK--(BUSINESS WIRE)--
DigitalOcean Holdings, Inc. (NYSE:DOCN), the cloud for developers, startups and SMBs, today announced the appointment of Aaqib Gadit as Chief Revenue Officer (CRO). As CRO, Gadit will be responsible for all go-to-market efforts directly connected to revenue-generating activities in an integrated and focused organization.
“The move to add a CRO structure is a reflection of our success building a $650+ million annual recurring revenue business to date and speaks to our confidence in the large market opportunity in the next phase of growth,” said Yancey Spruill, CEO of DigitalOcean. “As we focus on enabling our customers' growth, Aaqib’s deep knowledge of SMB customers makes him very uniquely-suited to drive our go-to-market activities as we build a business poised for growth to $1 billion in revenue and beyond.”
Aaqib Gadit was the co-founder and CEO of Cloudways, which was acquired by DigitalOcean in September 2022. Gadit is an execution oriented customer-first leader and a serial entrepreneur with expertise in product, technology, growth, customer support, and customer success, particularly in the context of software as a service (SaaS), Infrastructure, and Open Source where he has founded multiple companies since 2008.
"I'm thrilled to be stepping into this role and working even more closely with our executive team to streamline and scale DigitalOcean's limitless revenue opportunities while maintaining our focus on global SMBs," said Gadit. "Both DigitalOcean and Cloudways have become beloved names in the cloud space by being values-driven, focused on our customers, and removing the complexity of the cloud. By remaining true to these principles, I am confident in our collective ability to reach and surpass our goal of $1 billion in revenue in 2024."
About DigitalOcean
DigitalOcean simplifies cloud computing so builders can spend more time creating software that changes the world. With its mission-critical infrastructure and fully managed offerings, DigitalOcean helps developers, startups and small and medium-sized businesses (SMBs) rapidly build, deploy and scale applications to accelerate innovation and increase productivity and agility. DigitalOcean combines the power of simplicity, community, open source 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 or follow @digitalocean on Twitter.
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.
