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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]
Greater Manchester is a metropolitan county and combined authority area in North West England, with a population of 2.8 million;[2] comprising ten metropolitan boroughs: Bolton, Bury, Oldham, Rochdale, Stockport, Tameside, Trafford, Wigan, and the cities of Manchester and Salford. Greater Manchester was created on 1 April 1974, as a result of the Local Government Act 1972, and designated a functional city region on 1 April 2011. Greater Manchester is formed of parts of the historic counties of Lancashire, Cheshire and the West Riding of Yorkshire.
Greater Manchester spans 493 square miles (1,277 km2),[3] which roughly covers the territory of the Greater Manchester Built-up Area, the second most populous urban area in the UK. Though geographically landlocked, it is connected to the sea by the Manchester Ship Canal which is still open to shipping in Salford and Trafford. Greater Manchester borders the ceremonial counties of Cheshire (to the south-west and south), Derbyshire (to the south-east), West Yorkshire (to the north-east), Lancashire (to the north) and Merseyside (to the west). There is a mix of high-density urban areas, suburbs, semi-rural and rural locations in Greater Manchester, but land use is mostly urban—the product of concentric urbanisation and industrialisation which occurred mostly during the 19th century when the region flourished as the global centre of the cotton industry. It has a focused central business district, formed by Manchester city centre and the adjoining parts of Salford and Trafford, but Greater Manchester is also a polycentric county with ten metropolitan districts, each of which has at least one major town centre and outlying suburbs.
Greater Manchester is governed by the Greater Manchester Combined Authority (GMCA), which consists of political leaders from each of the ten metropolitan borough councils, plus a directly elected mayor, with responsibility for economic development, regeneration and transport. Andy Burnham is the inaugural Mayor of Greater Manchester, elected in 2017. For the 12 years following 1974, the county had a two-tier system of local government; district councils shared power with the Greater Manchester County Council. The county council was abolished in 1986 and so its districts (the metropolitan boroughs) effectively became unitary authority areas. However, the metropolitan county continued to exist in law and as a geographic frame of reference,[4] and as a ceremonial county, with a Lord Lieutenant and a High Sheriff. Several county-wide services were co-ordinated through the Association of Greater Manchester Authorities between 1985 and 2011.
Before the creation of the metropolitan county, the name SELNEC was used for the area, from the initials of "South East Lancashire North East Cheshire". Greater Manchester is an amalgamation of 70 former local government districts from the former administrative counties of Lancashire, Cheshire, the West Riding of Yorkshire and eight independent county boroughs.[5] Since deindustrialisation in the mid-20th century, Greater Manchester has emerged as a major centre for services, media and digital industries, and is renowned for guitar and dance music and its association football teams.[6]
