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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]
Dorset (/ˈdɔːrsɪt/; archaically: Dorsetshire) is a county in South West England on the English Channel coast. The ceremonial county comprises the unitary authority areas of Bournemouth, Christchurch and Poole and Dorset. Covering an area of 2,653 square kilometres (1,024 sq mi), Dorset borders Devon to the west, Somerset to the north-west, Wiltshire to the north-east, and Hampshire to the east. The county town is Dorchester which is in the south. After the reorganisation of local government in 1974, the county's border was extended eastward to incorporate the Hampshire towns of Bournemouth and Christchurch. Around half of the population lives in the South East Dorset conurbation, while the rest of the county is largely rural with a low population density.
The county has a long history of human settlement stretching back to the Neolithic era. The Romans conquered Dorset's indigenous Celtic tribe, and during the Early Middle Ages, the Saxons settled the area and made Dorset a shire in the 7th century. The first recorded Viking raid on the British Isles occurred in Dorset during the eighth century, and the Black Death entered England at Melcombe Regis in 1348. Dorset has seen much civil unrest: in the English Civil War, an uprising of vigilantes was crushed by Oliver Cromwell's forces in a pitched battle near Shaftesbury; the doomed Monmouth Rebellion began at Lyme Regis; and a group of farm labourers from Tolpuddle were instrumental in the formation of the trade union movement. During the Second World War, Dorset was heavily involved in the preparations for the invasion of Normandy, and the large harbours of Portland and Poole were two of the main embarkation points. The former was the sailing venue in the 2012 Summer Olympics, and both have clubs or hire venues for sailing, Cornish pilot gig rowing, sea kayaking and powerboating.
Dorset has a varied landscape featuring broad elevated chalk downs, steep limestone ridges and low-lying clay valleys. Over half the county is designated as an Area of Outstanding Natural Beauty. Three-quarters of its coastline is part of the Jurassic Coast Natural World Heritage Site due to its geological and palaeontologic significance. It features notable landforms such as Lulworth Cove, the Isle of Portland, Chesil Beach and Durdle Door. Agriculture was traditionally the major industry of Dorset but is now in decline and tourism has become increasingly important to the economy. There are no motorways in Dorset but a network of A roads cross the county and two railway main lines connect to London. Dorset has ports at Poole, Weymouth and Portland, and an international airport near Bournemouth. The county has a variety of museums, theatres and festivals, and is host to the Great Dorset Steam Fair, one of the biggest events of its kind in Europe. It is the birthplace of Thomas Hardy, who used the county as the principal setting of his novels, and William Barnes, whose poetry celebrates the ancient Dorset dialect.
