In 1977, Larry Ellison, Bob Miner, and Ed Oates, with two thousand U.S. dollars in market capitalization, founded a small software company called Software Development Laboratories in Santa Clara, California. In 1982, the company rebranded itself as Oracle Systems Corporation and, in 1995, as Oracle Corporation. This was done with the idea of creating a stronger association with their most prized product, the Oracle database. When most enterprises were managing vast amounts of data with inefficient and arcane software, the company founders saw an opportunity to develop a data management system that was better at handling data than other systems and easier to be taught to employees.
Oracle's database management systems (DBMS)
The company’s first commercially available software was a relational database management system (RDBMS) called Oracle Version 2. The software was launched in 1979 and slowly started gaining attention. Within eight years, Oracle had released version 5.1 of the software and decided it was time to go public. At the end of the 80s, Oracle was a global business with more than 500 million U.S. dollars in revenue. Moreover, by the fiscal year 2023, Oracle’s annual revenue had increased close to 50 billion U.S. dollars, while its reported net income was around 9 billion U.S. dollars. The most recent version of the company's RDBMS was Oracle 21c, launched in December 2020.
Oracle's other software products
Other software products in the company’s extensive portfolio include the Oracle Beehive collaboration software, two operating systems- Oracle Solaris and Oracle Linux, a family of middleware software products called Oracle Fusion Middleware, as well as various business application suites. The latter includes the Oracle Retail Suite- which helps retail companies manage merchandise, pricing, invoicing, and store operations, and the Oracle e-Business Suite- which provides companies with tools to manage manufacturing, financials, human resources, and CRM (Customer Relationship Management).
Service and hardware businesses
Oracle’s core business segment is the cloud and license segment, generating approximately 35 billion U.S dollars in revenue in financial year 2023 alone. Additionally, in 2010, Oracle acquired Sun Microsystems, a company specialized in computers, computer components, computer software, and information technology services. Since then, Oracle has also been involved in the manufacture of hardware. On top of that, Oracle also provides services, such as the Oracle Cloud Services and Oracle Academy, which provide training in technology and computing skills in collaboration with governments and educational institutions.
This text provides general information. Statista assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.
Lionel Sujay Vailshery
Research expert covering the consumer electronics industry