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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, and application development. Founded by former Oracle executive Marc Benioff in February 1999, Salesforce grew quickly, making its IPO in 2004. As of September 2022, Salesforce is the 61st largest company in the world by market cap with a value of nearly US$153 billion. It became the world's largest enterprise software firm in 2022. Salesforce ranked 491st on the 2023 edition of the Fortune 500, making $31,352 million in revenues. Since 2020, Salesforce has also been a component of the Dow Jones Industrial Average. History Salesforce 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. 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 severely affected by the dot-com bubble bursting at the beginning of the new millennium, resulting in the company laying off 20% of its workforce. Despite it's losses, Salesforce continued strong during the early 2000s. Salesforce also gained notability during this period for its "the end of software" tagline and marketing campaign, and even hired actors to hold up signs with its slogan outside a Siebel Systems conference. Salesforce's revenue continued to increase from 2000 to 2003, with 2003's revenue skyrocketing from $5.4 million in the fiscal year 2001 to over $100 million by December 2003. Also in 2003, Salesforce held its first annual Dreamforce conference in San Francisco. 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. In 2006, Salesforce launched IdeaExchange, a platform that allows customers to connect with company product managers. In 2009, Salesforce passed $1 billion in annual revenue. Also, in 2009, the company launched Service Cloud, an application that helps companies manage service conversations about their products and services. In 2014, the company released Trailhead, a free online learning platform. In October 2014, Salesforce announced the development of its Customer Success Platform. In September 2016, Salesforce announced the launch of Einstein, an artificial intelligence platform that supports several of Salesforce's cloud services. It reportedly acquired a 20-year license to be the exclusive business-oriented software company allowed to use Albert Einstein's likeness for $20 million. In 2020, Salesforce joined the Dow Jones Industrial Average, replacing energy giant and Standard Oil-descendant ExxonMobil. Salesforce's ascension to the Dow Jones was concurrent with that of Amgen and Honeywell. Because the Dow Jones factors its components by market price, Salesforce was the largest technology component of the index at its accession. Across 2020 and 2021, Salesforce saw some notable leadership changes; in February 2020, co-chief executive officer Keith Block stepped down from his position in the company. Marc Benioff remained as chairman and chief executive officer. In February 2021, Amy Weaver, previously the chief legal officer, became CFO. Former CFO Mark Hawkins announced that he would be retiring in October. In November 2021, Bret Taylor was named vice chair and co-CEO of the company. In December 2020, it was announced that Salesforce would acquire Slack for $27.7 billion, its largest acquisition to date. The acquisition closed in July 2021. Journalists covering the acquisition emphasized the price Salesforce paid for Slack, which was a 54% premium compared to Slack's market value. In April 2022, "Salesforce.com, Inc." changed its legal name to "Salesforce, Inc." In August 2022, Salesforce reported second-quarter earnings of $7.72 billion. Upon the German software firm SAP reporting its earnings for the same quarter totaling €7.52 Billion, Acceleration Economy reported that Salesforce had surpassed SAP to become the world's largest enterprise software vendor. This mirrored Benioff's remarks in Salesforce's earnings call, where he stated he looked at "this quarter very much as kind of a milestone". Salesforce announced a partnership with Meta Platforms in September 2022. The deal called for Meta's consumer application WhatsApp to integrate Salesforce's Customer 360 platform to allow consumers to communicate with companies directly. In November 2022, Salesforce announced it would terminate employees in its sales organization. Protocol reported that the company would likely eliminate some 2500 jobs. In November 2022, Salesforce announced its co-CEO and vice chair, Bret Taylor, would be stepping down from his roles at the end of January 2023, with Benioff continuing to run the company and serve as board chair. Within the week, former Tableau CEO Mark Nelson and former Slack CEO Stewart Butterfield also announced their departures. When asked about the departures, Benioff stated, "people come and people go"; Salesforce's stock dropped to a 52-week low after Nelson's resignation. In January 2023, the company announced a layoff of about 10%, or approximately 8,000 positions. According to Benioff, the company hired too aggressively during the COVID-19 pandemic and the increase in working from home led to the layoff. The company will also reduce office space as part of the restructuring plan. The same month brought an announcement from activist investor Elliott Management that it would acquire a "big stake" in the company. In January 2024, Salesforce announced it was laying off 700 employees (about 1%) of its global staff. In March 2024, Salesforce launched Einstein Copilot: Health Actions, a conversation assistant based on its earlier artificial intelligence platform Einstein. It will help with making appointments, referrals, and gathering patient information. Services Salesforce offers several customer relationship management (CRM) services, including: Sales Cloud, Service Cloud, Marketing Cloud, and Commerce Cloud and Platform. Additional technologies include Slack. Main services Salesforce's main services are for customer management. Other services include app creation, data integration and visualization, and training. Salesforce Platform 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. These applications are hosted on Salesforce.com's infrastructure. Force.com applications are built using Apex, a proprietary Java-like programming language to generate HTML originally via the "Visualforce" framework. Beginning in 2015 the "Lightning Components" framework has been supported. The Apex Compiler was designed by James Spagnola.... Discover the Salesforce Com popular books. Find the top 100 most popular Salesforce Com books.