What is Salesforce?
Salesforce is an American cloud-based software company headquartered in San Francisco, California. The company provides customer relationship management (CRM) software and applications focused on sales, customer service, marketing automation, analytics, and application development. Salesforce generated over 200 million U.S. dollars in net income in the fiscal year 2023. As of 2023, Salesforce Net Worth at $131.191 Billion.
| Company name: |
Salesforce |
| Based in: |
San Francisco, California |
| Headquarters: |
Salesforce Tower, San Francisco, California, U. S |
| About Company: |
Cloud computing firm |
| Founders: |
- Marc Benioff
- Parker Harris
- Dave Moellenhoff
- Frank Dominguez
|
| Founded in: |
February 3, 1999 |
| Salesforce Net Worth: |
$131.191 Billion |
History
In 1999, the company Salesforce was founded by former Oracle executive Marc Benioff, with Parker Harris, Dave Moellenhoff, and Frank Dominguez as a software as a service (SaaS) company. Initially, funding for the company came from Larry Ellison and Halsey Minor.
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Salesforce held its first annual Dreamforce Conference in San Francisco in 2003. The company made its initial public offering under the stock symbol CRM on the New York Stock Exchange and raised US $ 110 million in June 2004. Sales Force launched IdeaExchange, a platform that allows users to connect with the company’s product managers, in 2006. Salesforce passed $1 billion in annual revenue in 2009.
CEO
Marc Benioff is the Chair, Co-CEO, and Co-Founder of Salesforce. Salesforce is a pioneer of cloud computing and has been instrumental in the company’s growth. Benioff has also been outspoken about the need for businesses to adopt new technologies, particularly in the area of cloud computing.
Marc Russell Benioff is an American internet entrepreneur and philanthropist. He is the co-founder of Salesforce, a customer relationship management (CRM) company, as well as the chairman and CEO of its board of directors.
Additionally, he has founded and served as the president and COO of Oracle Corporation, a multinational software company. He also owns a minority stake in Tottenham Hotspur F.C., an English football club. Benioff has been recognized for his philanthropic work, having pledged to give away half of his wealth to charitable causes by the time he dies.
Marc Benioff, a business magnate and the founder and CEO of Salesforce, is estimated to have a net worth of at least $7 billion as of 2022.
Mr. Benioff’s fortune derives from his ownership of Salesforce, one of the world’s largest CRM (customer relationship management) companies, as well as his other holdings in technology startups and venture capital firms. He has also been successful in philanthropy, donating more than $200 million to various causes since 2007.
Salesforce Services
Salesforce.com, inc. Designs and develops web-based customer relationship management software. The company’s products and services include sales automation, support services, advertising automation, online commerce, community management, collaboration, industry-focused solutions, and the sales force. In addition, the company offers training, guidance, consulting services, and consulting.
Main Services
The key technologies of the sales force are the tools for customer management. Other products enable users to create apps, integrate data from other systems, visualize data, and offer training courses.
Salesforce is the world’s leading enterprise software company for managing customer relationships. IDC Worldwide Semiannual Software Tracker October 2022 reports that over 150000 Salesforce customers are thriving on our secure scalable cloud platform. That’s why we’re the leading enterprise software company for managing customer relationships.
Salesforce Locations
The Salesforce headquarters are located in the Salesforce Tower in San Francisco. Other international offices are in Sydney, Israel, and Hong Kong.
Salesforce Net Worth & Income In 2023
In 2019, the first year, Salesforce’s total revenue was US$13.28 billion. After one year, the revenue increased by 26% and 26% in constant currency. The CRM giant reported subscription and support revenues of US$12.41 billion, an increase of 27% year-over-year.
Salesforce ranked 240 on the 2019 Fortune 500 list of the largest United States companies by revenue. In 2023, Salesforce’s net worth is $131.191 Billion.
As of March 2023, Salesforce has a market cap of $183.60 billion, making it the world’s 52th most valuable company by market cap. This is an increase from its position at 72th in 2020 and is a testament to the company’s continued success in the enterprise software market.
Salesforce’s market cap is boosted by its strong financial performance in recent years. The company has reported double-digit revenue growth in each of the past five fiscal years, and its quarterly revenue has topped $5 billion in each of the past four quarters. In its most recent quarter, which ended January 31, 2020, Salesforce reported revenue of $5.15 billion, up 27% year over year.
Salesforce’s market cap is also helped by the company’s relatively high stock price. Salesforce’s stock price has been on a tear in recent years and is currently trading at around $170 per share. That gives the company a market capitalization of around $180 billion.
Frequently Asked Questions
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Is Salesforce a billion dollar company?
Salesforce is a cloud-based software company that provides customer relationship management (CRM) and enterprise software applications. It was founded in 1999 by Marc Benioff and Parker Harris, and its headquarters are in San Francisco, California. As of its 2023 fiscal year, the company’s annual revenue was 31 billion US dollars, a record high.
Salesforce’s revenue has grown rapidly in recent years, thanks in part to the strong demand for its products. The company’s annual revenue grew by 30% in its 2018 fiscal year, and by 27% in its 2019 fiscal year. In its 2020 fiscal year, Salesforce’s revenue grew by 21%, to 28.3 billion US dollars. This growth continued in its 2021 fiscal year, with the company’s revenue reaching 33.0 billion US dollars.
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Who is Salesforce’s biggest competitor?
Salesforce’s biggest competitor is Microsoft. Salesforce is the world’s largest CRM company, and its main competitors are Microsoft Dynamics and Oracle. Both of these companies offer similar products and services, but each has its own strengths and weaknesses.
Microsoft Dynamics is a much larger company than Salesforce, and it has a lot more resources. However, Salesforce has been growing rapidly and is now nearly as large as Microsoft Dynamics. Oracle is another large CRM company, but it has been struggling in recent years.
