Journalists covering the acquisition emphasized the price Salesforce paid for Slack, which is a 54% premium compared to Slack's market value, as too high of a premium for the company, with views varying from the premium being too concerning for investors to Salesforce playing the long game. On December 1, 2020, it was announced that Salesforce would acquire Slack for $27.7 billion, its largest acquisition to date. In November 2021, Bret Taylor was named vice chair and co-CEO of the company. Former CFO Mark Hawkins announced that he would be retiring in October. In February 2021, Amy Weaver, previously the chief legal officer, became CFO. Marc Benioff remained as chairman and chief executive officer.
Īcross 20, Salesforce saw some notable leadership changes, In February 2020, co-chief executive officer Keith Block stepped down from his position in the company. Because the Dow Jones factors its components by market price, Salesforce was the largest technology component of the index at its accession. Salesforce's ascension to the Dow Jones was concurrent with that of Amgen and Honeywell. In 2019, Salesforce joined the Dow Jones Industrial Average, replacing energy giant and Standard Oil-descendant ExxonMobil. In September 2016, Salesforce announced the launch of Einstein, an artificial intelligence platform that supports several of Salesforce's cloud services. In October 2014, Salesforce announced the development of its Customer Success Platform.
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In 2014, the company released Trailhead, a free online learning platform. Also in 2009, the company launched Service Cloud, an application that helps companies manage service conversations about their products and services. In 2009, Salesforce passed $1 billion in annual revenue. In 2006, Salesforce launched IdeaExchange, a platform that allows customers to connect with company product managers. In June 2004, the company had its initial public offering on the New York Stock Exchange under the stock symbol CRM and raised US$110 million. Īlso in 2003, Salesforce held its first annual Dreamforce conference in San Francisco. Salesforce's revenue continued to increase from 2000 to 2003, with 2003's revenue skyrocketing from $5.4 million in fiscal year 2001 to over $100 million by December 2003. Salesforce also gained notability during this period for its tagline "the end of software", in which it also hired actors to hold up signs with its tagline outside a Siebel Systems conference. Despite its losses, Salesforce continued strong during the early 2000s. Salesforce was severely affected by the dot-com bubble bursting at the beginning of the new millennium, with the company laying off 20% of its workforce. Two of Salesforce's earliest investors were Larry Ellison, the co-founder and first CEO of Oracle, and Halsey Minor, the founder of CNET.
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The company was founded in 1999 by former Oracle executive Marc Benioff, together with Parker Harris, Dave Moellenhoff, and Frank Dominguez as a software as a service (SaaS) company.
Today, Salesforce is one of the largest technology companies in the world, and as of August 2022, is the 58th largest company in the world by market cap.
Salesforce's continued growth makes it into the first cloud computing company to reach $1 billion USD in annual revenue by fiscal year 2009, and the world's largest enterprise software firm by 2022. It provides customer relationship management (CRM) software and applications focused on sales, customer service, marketing automation, analytics, and application development.įounded by former Oracle executive Marc Benioff, Salesforce quickly grew into one of the largest companies in the world, making its IPO in 2004. (stylized in logos as Salesƒorce ) is an American cloud-based software company headquartered in San Francisco, California.
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