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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.[7][8] Two of Salesforce's earliest investors were Larry Ellison, the co-founder and first CEO of Oracle, and Halsey Minor, the founder of CNET.[8]
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.[9] 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.[2]
Also in 2003, Salesforce held its first annual Dreamforce conference in San Francisco.[10] 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.[11][12] In 2006, Salesforce launched IdeaExchange, a platform that allows customers to connect with company product managers.[13]
In 2009, Salesforce passed $1 billion in annual revenue.[8] Also in 2009, the company launched Service Cloud, an application that helps companies manage service conversations about their products and services.[14]
In 2014, the company released Trailhead, a free online learning platform.[15] In October 2014, Salesforce announced the development of its Customer Success Platform.[16] In September 2016, Salesforce announced the launch of Einstein, an artificial intelligence platform that supports several of Salesforce's cloud services.[17][18]
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.[6] Because the Dow Jones factors its components by market price, Salesforce was the largest technology component of the index at its accession.[19]
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.[20] Marc Benioff remained as chairman and chief executive officer.[21] In February 2021, Amy Weaver, previously the chief legal officer, became CFO. Former CFO Mark Hawkins announced that he would be retiring in October.[22][23] In November 2021, Bret Taylor was named vice chair and co-CEO of the company.[24]
On December 1, 2020, it was announced that Salesforce would acquire Slack for $27.7 billion, its largest acquisition to date.[25] The acquisition closed on July 21, 2021.[26] 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.[27][28][29]
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".[3]
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.[30]
In November 2022, Salesforce announced it would terminate employees in its sales organization.[31] Protocol reported that the company would likely eliminate some 2500 jobs.[32]
The London Borough of Croydon (audio speaker iconpronunciation (help·info)) is a London borough in south London, part of Outer London. It covers an area of 87 km2 (33.6 sq mi). It is the southernmost borough of London.[2] At its centre is the historic town of Croydon from which the borough takes its name; while other urban centres include Coulsdon, Purley, South Norwood, Norbury, New Addington and Thornton Heath. Croydon is mentioned in Domesday Book, and from a small market town has expanded into one of the most populous areas on the fringe of London. The borough is now one of London's leading business, financial and cultural centres, and its influence in entertainment and the arts contribute to its status as a major metropolitan centre. Its population is 386,710, making it the second largest London borough and fifteenth largest English district.
The borough was formed in 1965 from the merger of the County Borough of Croydon with Coulsdon and Purley Urban District, both of which had been within Surrey. The local authority, Croydon London Borough Council, is now part of London Councils, the local government association for Greater London.[3] The economic strength of Croydon dates back mainly to Croydon Airport which was a major factor in the development of Croydon as a business centre. Once London's main airport for all international flights to and from the capital, it was closed on 30 September 1959 due to the lack of expansion space needed for an airport to serve the growing city. It is now a Grade II listed building and tourist attraction.[4][5] Croydon Council and its predecessor Croydon Corporation unsuccessfully applied for city status in 1954, 2000, 2002 and 2012. The area is currently going through a large regeneration project called Croydon Vision 2020 which is predicted to attract more businesses and tourists to the area as well as backing Croydon's bid to become "London's Third City" (after the City of London and Westminster).[6] Croydon is mostly urban, though there are large suburban and rural uplands towards the south of the borough. Since 2003, Croydon has been certified as a Fairtrade borough by the Fairtrade Foundation. It was the first London borough to have Fairtrade status which is awarded on certain criteria.[7][8]
The area is one of the hearts of culture in London and the South East of England. Institutions such as the major arts and entertainment centre Fairfield Halls add to the vibrancy of the borough. However, its famous fringe theatre, the Warehouse Theatre, went into administration in 2012 when the council withdrew funding, and the building itself was demolished in 2013. The Croydon Clocktower was opened by Queen Elizabeth II in 1994 as an arts venue featuring a library, the independent David Lean Cinema (closed by the council in 2011 after sixteen years of operating, but now partially reopened on a part-time and volunteer basis) and museum.[9] From 2000 to 2010, Croydon staged an annual summer festival celebrating the area's black and Indian cultural diversity, with audiences reaching over 50,000 people.[10]
Premier League football club Crystal Palace F.C. play at Selhurst Park in Selhurst, a stadium they have been based in since 1924. Other landmarks in the borough include Addington Palace, an eighteenth-century mansion which became the official second residence of six Archbishops of Canterbury,[11] Shirley Windmill, one of the few surviving large windmills in Greater London built in the 1850s, and the BRIT School, a creative arts institute run by the BRIT Trust which has produced artists such as Adele, Amy Winehouse and Leona Lewis.[12]
