DigitalOcean Appoints Paddy Srinivasan as Chief Executive Officer - Seite 2

Srinivasan has the right experience and perspective for DigitalOcean’s target market. He has a deep understanding of the developer experience and is uniquely suited to guide the Company to address the evolving technical needs of developers in the world's rapidly expanding market of startups and growing digital businesses. Srinivasan started his career as a developer at Microsoft and held increasingly senior product and technology leadership roles. In addition, he successfully founded, led as CEO, and ultimately sold cloud monitoring and managed service provider Opstera to Avanade (a Microsoft-Accenture company).

“I am deeply honored to be joining the DigitalOcean team,” said Srinivasan. “DigitalOcean has established itself as a critical player in the cloud ecosystem that participates in a large and growing segment of the market and differentiates itself with a dedication to simplicity in the cloud, providing solutions that are tailored to the needs of developers in small and growing digital businesses. I look forward to collaborating with the talented team at DigitalOcean to continue to deliver a full portfolio of easy-to-use, cost-effective and highly supported cloud solutions for our customers, enabling them to realize their ambitions and use technology to fuel their growth.”

Srinivasan takes the helm from outgoing CEO Yancey Spruill, who has successfully led DigitalOcean since 2019, having taken the Company public, driven material improvements in the Company’s financial profile, completed several accretive acquisitions, and materially expanded the Company’s customer base. Spruill will step down from his positions as CEO and a member of the Company’s Board of Directors upon Srinivasan’s start date.

Forward-Looking Statements

This 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. Any forward-looking statements contained in this release are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause actual results or outcomes to be materially different from any future results or outcomes expressed or implied by the forward-looking statements. Further information on these and additional risks, uncertainties, assumptions and other factors that could cause actual results or outcomes to differ materially from those included in or contemplated by the forward-looking statements contained in this release are included under the caption "Risk Factors" and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2022, our Quarterly Reports on Form 10-Q filed for the quarters ended June 30, 2023 and September 30, 2023, and other filings and reports we make with the SEC from time to time.