Here is how Salesforce acquisitions enable solutions that are a win-win for customers.
In terms of exponential growth, there is no other company that personifies it better than Salesforce. Little did anyone realize back in March 1999, when Salesforce was launched in a one-bedroom apartment next to Marc Benioff’s (a sales executive at Oracle) house, atop Telegraph Hill, San Francisco, would become one of the most iconic companies in the CRM industry. Together with his partners- Parker Harris, Frank Dominguez, and Dave Moellenhoff, they went about creating a storm in the cloud computing sector. The idea was simple – software should be available for all to use without having to spend money and invest in expensive infrastructure to install the computer platforms on standalone computers- otherwise known as Software-as-a-Service (SaaS).
Sales from the Marketing Cloud and Commerce cloud divisions are reported together on the company's financial statements. Last year, they took in $1.9 billion in revenue or 15% of total sales. That's an increase of 12% from two years earlier. This past quarter of 2019, the Marketing and Commerce cloud raked in $616 million. That's an increase of 36% from the $452 million reported for the same quarter in 2018.
The company’s growth has been mind-boggling since those first days. Towards that end, the company started developing its prototype. It was a success and their revenue was calculated at $5.4 million for the fiscal year ending January 31, 2001. (Source: Salesforce.com)
The next bold move came in 2016 when in a single year, they went on a record acquisition spree and acquired 12 companies. Their aim was simple. In order to offer a wide range of services to their clients, they were keen on acquiring companies that belonged to diverse segments like service software, AI start-ups, etc. the main advantage of this strategy was that their clients could now take advantage of the cloud computing technology without being held back by legacy data that was stuck in siloed systems. Integration was the key. Many enterprises had legacy data on their on-site servers that were still necessary to run operations. Thanks to acquisitions such as MuleSoft it is now possible to extract such data quite easily and take advantage of their operations.
Nothing can be more clear than when you analyze their top acquisitions over the years.
Starting in 1999, when the company was launched right till 2010, the initial acquisitions helped lay down the groundwork for the company and its offerings.
Over the years, Salesforce acquisitions have allowed their customers to get access to a wide range of services that have served to enhance their Sales and Marketing needs. Outlined below are some of the key acquisitions that enable this holistic solution.
“Cloud-based software is a huge industry right now with the global public cloud services sector pegged to grow by 17% in 2020, to a total of $266.4 billion, according to Gartner Inc.”
expected growth of cloud based software
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