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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]
Ipswich (/ˈɪpswɪtʃ/ (About this soundlisten)) is a historic county town in Suffolk, England. The town is located in East Anglia about 10 miles away from the mouth of the River Orwell and the North Sea. Ipswich is both on the Great Eastern Main Line railway and the A12 road, it is 66 miles (106 km) north-east of London, 54 miles (89 km) east-southeast of Cambridge, and 45 miles (72 km) south of Norwich. Ipswich is surrounded by two Areas of Outstanding Natural Beauty (AONB); Suffolk Coast and Heaths and Dedham Vale.
Ipswich's modern name is derived from the medieval name Gippeswic, likely taken either from an Old Saxon personal name or from an earlier name given to the Orwell Estuary (although unrelated to the name of the River Gipping).[1][2] It has also been known as Gyppewicus and Yppswyche.[3] The town has been continuously occupied since the Saxon period,[3] and is contested to be one of the oldest towns in the United Kingdom.[4] Ipswich was a settlement of great economic importance to England throughout its history, particularly in trade.[5] The town's historical dock, present-day Ipswich Waterfront, was known as the largest and most important dock in the kingdom.[5][6]
Ipswich is a non-metropolitan district and is a large settlement despite its town status. The urban development of Ipswich overspills the borough boundaries significantly, with 75% of the town's population living within the borough at the time of the 2011 Census, when it was the fourth-largest urban area in the United Kingdom's East of England region, and the 42nd-largest urban area in England and Wales.[7] In 2011, the town of Ipswich was found to have a population of 133,384,[8][9] while the Ipswich built-up area is estimated to have a population of approximately 180,000 in 2011.[7]
The town is split into various quarters, with central and the waterfront drawing the most footfall.[10] Central is home to the town's retail shopping and the historical town square, the Cornhill. The waterfront is located south of the town centre on the bend of the River Orwell and is a picturesque setting housing the town's impressive marina. The waterfront was historically an industrial port but has since been transformed into a trendy area lined with high-rise apartment buildings, restaurants, bars and cafés. The waterfront is also home to one of the UK's newest universities, the University of Suffolk, which was formed in 2016.[11]
Ipswich has become a tourist hotspot in the UK with 3.5 million people reported to have visited the county town in 2016.[12] In 2020, Ipswich was ranked as an emerging global tourist destination by TripAdvisor.[13] Ipswich was voted as the 7th most desirable place to live and work in England by the Royal Mail in 2017.[14] In 2007, Ipswich was awarded the cleanest town award,[15] and in 2015, Ipswich was rated as the third happiest place to live in the UK.[16]
