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. 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, with the company laying off 20% of its workforce. Despite its losses, Salesforce continued strong during the early 2000s. 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. 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.
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.
In 2019, 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.
On December 1, 2020, it was announced that Salesforce would acquire Slack for $27.7 billion, its largest acquisition to date. The acquisition closed on July 21, 2021. 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 August 24, 2022, Salesforce reported second quarter earnings of $7.72 billion. Upon the German software firm SAP reporting its earnings for the same quarter totaling to €7.52 Billion,[a] 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 that Meta's consumer application WhatsApp would integrate Salesforce's Customer 360 platform to allow consumers to directly communicate with companies.
In November 2022, Salesforce announced it would terminate employees in its sales organization. Protocol reported that the company would likely eliminate some 2500 jobs.
Birmingham (/ˈbɜːrmɪŋəm/ (About this soundlisten) BUR-ming-əm) is a city and metropolitan borough in the West Midlands, England. It is the second-largest city, urban area and metropolitan area in England and the United Kingdom,[b] with roughly 1.1 million inhabitants within the city area, 2.9 million inhabitants within the urban area and 4.3 million inhabitants within the metropolitan area and lies within the most populated English district. Birmingham is commonly referred to as the second city of the United Kingdom.
Located in the West Midlands county and region in England, approximately 100 miles (160 km) from Central London, Birmingham, as one of the United Kingdom's major cities, is considered to be the social, cultural, financial, and commercial centre of both the East and West Midlands. Distinctively, Birmingham only has small rivers flowing through it, mainly the River Tame and its tributaries River Rea and River Cole – one of the closest main rivers is the Severn, approximately 20 miles (32 km) west of the city centre.
A market town of Warwickshire in the medieval period, Birmingham grew in the 18th-century Midlands Enlightenment and subsequent Industrial Revolution, which saw advances in science, technology, and economic development, producing a series of innovations that laid many of the foundations of modern industrial society. By 1791, it was being hailed as "the first manufacturing town in the world". Birmingham's distinctive economic profile, with thousands of small workshops practising a wide variety of specialised and highly skilled trades, encouraged exceptional levels of creativity and innovation and provided an economic base for prosperity that was to last into the final quarter of the 20th century. The Watt steam engine was invented in Birmingham.
The resulting high level of social mobility also fostered a culture of political radicalism which, under leaders from Thomas Attwood to Joseph Chamberlain, was to give it a political influence unparalleled in Britain outside London, and a pivotal role in the development of British democracy. From the summer of 1940 to the spring of 1943, Birmingham was bombed heavily by the German Luftwaffe in what is known as the Birmingham Blitz. The damage done to the city's infrastructure, in addition to a deliberate policy of demolition and new building by planners, led to extensive urban regeneration in subsequent decades.
Birmingham's economy is now dominated by the service sector. The city is a major international commercial centre and an important transport, retail, events and conference hub. Its metropolitan economy is the second largest in the United Kingdom with a GDP of $121.1bn (2014), and its six universities make it the largest centre of higher education in the country outside London. Birmingham's major cultural institutions – the City of Birmingham Symphony Orchestra, the Birmingham Royal Ballet, the Birmingham Repertory Theatre, the Library of Birmingham and the Barber Institute of Fine Arts – enjoy international reputations, and the city has vibrant and influential grassroots art, music, literary and culinary scenes. The city will host the 2022 Commonwealth Games. Birmingham is the fourth-most visited city in the UK by foreign visitors.
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