Salesforce Acquires Instranet Will Take It Saas And Better Target Call Centers – Salesforce, Inc. is an American cloud-based software company headquartered in San Francisco, California. It provides customer relationship management (CRM) software and applications focused on sales, customer service, marketing automation, e-commerce, analytics, artificial intelligence and application development.
Founded by former Oracle CEO Marc Bioff in March 1999, Salesforce grew rapidly, making its initial public offering in 2004. As of September 2022, Salesforce is the 61st largest company in the world by market capitalization with a value of nearly $153 billion.
Salesforce Acquires Instranet Will Take It Saas And Better Target Call Centers
Salesforce was founded on March 8, 1999 by former Oracle CEO Marc Bioff along with Parker Harris, Dave Moelhoff and Frank Dominguez as a software as a service (SaaS) company.
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Two of Salesforce’s earliest investors were Larry Ellison, the co-founder and first CEO of Oracle, and Halsey Minor, the founder of CNET.
Salesforce was hit hard by the bursting of the dot-com bubble at the start of the new millennium, resulting in 20% of its workforce being laid off. Despite the losses, Salesforce continued strong throughout the early 2000s. Salesforce also gained notoriety during this period for its “software” tagline and marketing campaign, and they hired actors to hold signs with its slogan outside the Siebel Systems conference.
Salesforce’s revenue continued to increase from 2000 to 2003, with revenue in 2003 skyrocketing from $5.4 million in fiscal 2001 to over $100 million by December 2003.
In June 2004, the company had its initial public offering on the New York Stock Exchange under the ticker symbol CRM and raised US$110 million.
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Also in 2009, the company launched Service Cloud, an application that helps companies manage service calls for their products and services.
In September 2016, Salesforce announced the launch of Einstein, an artificial intelligence platform that supports several Salesforce cloud services.
It reportedly acquired a 20-year license to be the exclusive business-oriented software company allowed to use the likes of Albert Einstein for $20 million.
Because Dow Jones measures its components by market price, Salesforce was the index’s largest technology component at its inception.
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Throughout 2020 and 2021, Salesforce has seen some notable leadership changes; in February 2020, co-CEO Keith Block stepped down from his position with the company.
In February 2021, Amy Weaver, previously Chief Legal Officer, became CFO. Former CFO Mark Hawkins announced he will retire in October.
In December 2020, it was announced that Salesforce would acquire Slack for $27.7 billion, its largest acquisition to date.
Journalists covering the acquisition noted the price Salesforce paid for Slack, which was a 54% premium compared to Slack’s market value.
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In August 2022, Acceleration Economy reported that Salesforce had surpassed SAP to become the world’s largest enterprise software vendor.
This echoed Beoff’s remarks in Salesforce’s earnings call, where he said he viewed “this quarter very much as kind of a turning point.”
Salesforce announced a partnership with Meta Platforms in September 2022. The deal required Meta’s consumer app WhatsApp to integrate Salesforce’s Customer 360 platform to allow consumers to communicate directly with companies.
In November 2022, Salesforce announced that its co-CEO and vice chairman, Brett Taylor, would step down from his roles effective January 2023, with Bioff continuing to lead the company and serve as chairman of the board. . During the week, former Tableau CEO Mark Nelson and former Slack CEO Stewart Butterfield also announced their departures. When asked about departures, Bioff stated: “people come and people go”; Shares of Salesforce fell to a 52-week low following Nelson’s resignation.
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In January 2023, the company announced layoffs of about 10%, or approximately 8,000 positions. According to Bioff, the company hired too aggressively during the COVID-19 pandemic and the increase in working from home led to layoffs. The company also reduced office space as part of the restructuring plan.
The same month brought an announcement from activist investor Elliott Management that it would acquire a “major stake” in the company.
In March 2024, Salesforce launched Einstein Copilot: Health Actions, a conversational assistant based on its previous AI platform Einstein. It will help with scheduling appointments, referrals and gathering patient information.
In September, the company deployed Agtforce, its platform of autonomous AI agts to help with customer service, develop marketing campaigns and train salespeople. It also allows users to create custom AI agts.
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Salesforce’s main services are for customer management. Other services include application creation, data integration and visualization, and training.
Salesforce Platform (formerly known as Force.com) is a platform as a service (PaaS) that allows developers to add applications to the main Salesforce.com application.
Launched in 2005, the Salesforce AppExchange is an online app store that allows users to sell third-party apps and consulting services.
Desk.com was a SaaS help desk and customer support product that was acquired by Salesforce for $50 million in 2011.
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Do.com was a cloud-based task management system for small groups and businesses, introduced in 2011 and discontinued in 2014.
In August 2020, S&P Dow Jones Indices announced that Salesforce would replace ExxonMobil in the Dow Jones Industrial Average.
In 2021, Cynthia Perry, a design research manager, resigned, alleging workplace discrimination, and posted her resignation letter on LinkedIn.
On September 10, 2021, Beoff tweeted that the company is ready to help any employee who wants to move out of the state of Texas, following the Texas abortion legislation announced on September 1, 2021.
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For fiscal 2022, Salesforce posted an outlook of $26.49 billion, an increase of 25% year-over-year and 24% in constant currency.
In 2008, Salesforce migrated from Sun Fire E25K servers with SPARC processors running Solaris to Dell servers with AMD processors running Linux.
In 2012, Salesforce announced plans to build a data center in the UK to handle the personal data of European citizens.
In 2016, Salesforce announced that it would use Amazon Web Services hosting for countries with restrictive data residency requirements and where no Salesforce data is running.
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Between 2019 and 2021, Salesforce made two of its biggest acquisitions, with Salesforce completing the purchase of Tableau, a data visualization and analytics software company, for $15.7 billion
In 2019 and Slack Technologies, the developers of its eponymous office messaging platform, for $27.7 billion in 2021.
Salesforce’s most recent acquisition was Slack-bot maker Troops.ai, announced in May 2022 and expected to close in 2023.
In December 2023, Salesforce announced that it would acquire Spiff, an automated commission management platform, for an undisclosed sum.
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In April 2024, the Wall Street Journal reported that Salesforce was in advanced talks to buy Informatica at a price below its $11 billion market capitalization at the time.
In September 2024, Salesforce acquired Own, a backup service provider, for $1.9 billion. Salesforce acquired both PredictSpring and Tyx in 2024.
In November 2007, a phishing attack compromised the contact information of a number of Salesforce customers. Some customers received phishing emails that appeared to be invoices from Salesforce.
Salesforce said that “a phisher tricked someone into revealing a password, but this intrusion did not originate from a security flaw in the [salesforce.com] application or database.”
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In 2017, at DEF CON, two security engineers were let go after giving an overview of an internal project called MEATPISTOL.
The performers received a message 30 minutes before the performance not to go on stage, but the message did not appear until after they had finished.
The MEATPISTOL tool was expected to be released as open source at the time of publication, but Salesforce did not release the code to developers or the public during the conference.
The nonprofit Refugee and Immigrant Center for Education and Legal Services (RAICES) turned down a $250,000 donation from Salesforce because the company has contracts with U.S. Customs and Border Protection.
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In December 2019, the Institute on Taxation and Economic Policy found that Salesforce was one of 91 companies that “paid an effective federal tax rate of 0% or less” in 2018 as a result of the Tax Cuts and Jobs Act of 2017. The findings were published in a report based on 379 Fortune 500 companies that reported profits in 2018.
This section needs to be updated. Please help update this article to reflect correct events or newly available information. (May 2024)
In March 2019, Salesforce faced a lawsuit from 50 anonymous women who claimed to be victims and survivors of sex trafficking, abuse and rape. The lawsuit alleges that the company profited from and helped build technology that facilitated sex trafficking on Backpage.com, the now-defunct website.
In March 2021, a judge granted a partial dismissal of the case, dismissing the negligence and conspiracy charges, but allowing the case to proceed on the sex trafficking charges.
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This section needs to be updated. Please help update this article to reflect correct events or newly available information. (March 2023)
In July 2021, Salesforce Japan faced a discrimination lawsuit from a former employee, according to Japanese legal media.
The firm declined to comment on the lawsuit to the media. The former employee, who has autism spectrum disorder and ADHD, claimed she was discriminated against because of her disability and terminated from the firm’s Japanese web marketing team. The lawsuit alleges that the anonymous woman, as an employee of Salesforce Japan from 2018 to 2020, faced hate speech, microaggressions and denial of reasonable accommodation by a manager. She claims that her attempts to resolve the issue have been met
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