[10] NetSuite can trace its beginning to a five-minute phone call between Evan Goldberg and Larry Ellison, when the two discussed the idea of selling software over the internet.

[16][17] On January 4, 2007, NetSuite named Oakland A's General Manager Billy Beane (of Moneyball fame) to its board of directors.

NetSuite has additional offices in Denver, Colorado; Santa Monica and Redwood City, California; Chicago, Illinois; Atlanta, Georgia; New York City; Boston, Massachusetts; Toronto, Canada; the United Kingdom; Spain; the Czech Republic; Philippines; Hong Kong; Singapore; Australia; Brazil;[22] and Uruguay.

The deal faced intense scrutiny because Oracle founder Larry Ellison owned nearly 40% of NetSuite.

Some major NetSuite shareholders, such as T. Rowe, notified Oracle they would not be tendering their shares under the current terms of the proposed deal.

In early October 2016, Oracle extended the deadline for shareholders of NetSuite to tender their shares to November 4.

[34] Multi-entity and global accounting and consolidation functionality is available at additional cost via NetSuite's OneWorld module, which supports 27 languages, and multiple currencies and tax codes.

[35] As with other cloud-based applications, periodic upgrades offer clients access to current features and functionality more readily than they would have been able to achieve using on-premises code.

[36] NetSuite offers analytics and reporting, which use the centralized data to provide real-time visibility into client company operational and financial performance.