UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): July 22, 2024
DigitalOcean Holdings, Inc.
(Exact name of registrant as specified in its charter)
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Delaware | 001-40252 | 45-5207470 |
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) |
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101 6th Avenue | New York | New York | 10013 |
(Address of Principal Executive Offices) | (Zip Code) |
(646) 827-4366
Registrant's telephone number, including area code
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common stock, par value $0.000025 per share | DOCN | The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
o
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously disclosed on a Current Report on Form 8-K filed by DigitalOcean Holdings, Inc. (the “Company”) on May 2, 2024, Muhammad Aaqib Gadit, the Company’s Chief Revenue Officer, notified the Company of his intention to step down from such role upon the commencement of employment of his successor. On July 22, 2024, Larry D’Angelo commenced employment as the Company’s Chief Revenue Officer. Effective as of such date, Mr. Gadit will serve as an advisor to the Company for a transition period as mutually agreed upon by the Company and Mr. Gadit.
Item 7.01 Other Events.
On July 22, 2024, the Company issued a press release announcing the appointment of Larry D’Angelo as the Company’s Chief Revenue Officer. The full text of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
The information contained in this Item 7.01 and the accompanying exhibit is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of Section 18.
This Current Report on Form 8-K 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 the Company's SEC filings. It is not possible for the Company to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Current Report on Form 8-K. The results, events and circumstances reflected in the forward-looking statements may not be achieved or occur.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. | | | | | | | | |
| Exhibit No. | | Description |
| 99.1 | | |
| 104 | | Cover Page Interactive File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| Date: | July 22, 2024 | DigitalOcean Holdings, Inc. |
| | By: | /s/ W. Matthew Steinfort |
| | | W. Matthew Steinfort, Chief Financial Officer |
DigitalOcean Hires Larry D’Angelo as Chief Revenue Officer
30 year tech industry veteran will oversee the go-to-market strategy and drive rapid growth
NEW YORK—July 22, 2024—DigitalOcean Holdings, Inc. (NYSE: DOCN), the developer cloud optimized for startups and growing digital businesses, is pleased to announce the appointment of Larry D’Angelo as its new Chief Revenue Officer, effective today. In this role, D’Angelo will drive DigitalOcean’s new business growth via direct sales and channel partnerships, customer success, customer support, and corporate communications.
“Larry is a seasoned operator with rich experience scaling businesses, driving exceptional customer experience, and building world class organizations,” said Paddy Srinivasan, CEO of DigitalOcean. “He brings deep expertise in data driven, high velocity, sales and customer success functions. DigitalOcean is a unique company with over 635K customers, and Larry is the perfect leader to complement DigitalOcean’s world class product-led growth motion powered by our passionate community of developers.”
D’Angelo brings more than 30 years of leadership experience and a proven track record in new business and customer expansion growth to DigitalOcean. Most recently, he served as Chief Customer Officer at Rapid7. He has served as a Senior Advisor to numerous software companies and private equity firms. Before operating as an advisor, D'Angelo was the Chief Sales Officer of LogMeIn, where he helped the company grow from $100M in revenue to $1.4B. His strategic insights and deep industry knowledge will be pivotal in expanding the company's revenue streams and enhancing customer engagement initiatives.
“DigitalOcean’s product-led growth strategy and the power of its community are a tremendous foundation for the company's next chapter of accelerated growth,” said D’Angelo. “As generative AI propels an influx of new applications, DigitalOcean is perfectly poised to be the platform on which new groundbreaking technologies are built. I am eager to layer on best-in-class go-to-market approaches to drive our ongoing success.”
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 growing digital businesses 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.
Media
press@digitalocean.com
Investors
Melanie Strate
investors@digitalocean.com
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