Salesforce, Inc. (CRM)

Sector: Technology|Industry: Software - Application|Market Cap: $345.84B|Employees: 72.7K


Salesforce, Inc. is a global leader in customer relationship management (CRM) technology, enabling companies of all sizes and industries to connect with customers through data, AI, CRM, and trust. Its AI-powered Customer 360 platform unites sales, service, marketing, commerce, and IT teams, providing a single source of customer truth for improved responsiveness and efficiency. Salesforce's competitive advantages include its trusted platform, AI capabilities, and strong partner ecosystem, with a global presence and key markets worldwide.

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  2. Company Profile

Business Summary

Salesforce, Inc. is a leading global provider of customer relationship management (CRM) software. Founded in 1999, the company's AI-powered Customer 360 platform connects customer data across systems to unify sales, service, marketing, commerce, and IT teams. Salesforce primarily sells to businesses worldwide through subscriptions via direct sales and partners. The company also offers a platform and developer tools for third-party applications.

Key Statistics

  • Employees: 72,682 (as of January 31, 2024)
  • Geographic Footprint: Operates in multiple countries across the Americas, Europe, Asia Pacific, and other regions.
  • Headquarters: Salesforce Tower, 415 Mission Street, 3rd Fl, San Francisco, California 94105
  • Founded: 1999
  • Revenue (FY2024): $34.9 billion
  • Market Capitalization: $194.1 billion (as of July 31, 2023)
  • Key Subsidiaries/Brands: Slack, Mulesoft, Tableau

Leadership

  • CEO: Marc Benioff (Chair and Co-Founder)
  • CFO: Amy Weaver
  • Board Chair: Marc Benioff
  • Other Key Executives: Parker Harris (Director and Co-Founder of Slack), Miguel Milano (President and Chief Revenue Officer), Brian Millham (President and Chief Operating Officer), Sabastian Niles (President and Chief Legal Officer), Sundeep Reddy (Executive Vice President and Chief Accounting Officer), Srinivas Tallapragada (President and Chief Engineering Officer)

Key Financial Metrics

  • Annual Revenue (FY2024): $34.9 billion
  • Net Income (FY2024): $4.1 billion
  • Market Capitalization (as of July 31, 2023): $194.1 billion
  • Total Assets (FY2024): $99.8 billion
  • Number of Employees (as of January 31, 2024): 72,682
  • Key Financial Highlights (FY2024): 11% YoY revenue growth, operating margin of approximately 14%, cash provided by operations of $10.2 billion

Products and Services

Salesforce offers a suite of integrated cloud-based services within its Customer 360 platform:

  • Sales: AI-powered tools for sales teams to manage leads, track progress, and close deals.
  • Service: Platform for customer support and field service, enabling personalized support across multiple channels.
  • Platform and Other: Includes platform for building custom apps, Einstein AI platform, AppExchange marketplace, and Slack collaboration platform.
  • Marketing and Commerce: Tools for planning, personalizing, and optimizing marketing campaigns, and for building and managing e-commerce storefronts.
  • Integration and Analytics: MuleSoft for integration and automation, and Tableau for data analytics.
  • Data Cloud: Hyperscale data engine for unifying and activating customer data.
  • Industry Solutions: Tailored solutions for specific industries like financial services, healthcare, and manufacturing.
  • Salesforce Starter: All-in-one solution for small and medium-sized businesses.

Key Business Segments

Salesforce operates as a single operating segment.

Business Strategy

Salesforce's growth strategy focuses on expanding relationships with existing customers through cross-selling and upselling, increasing geographic reach, and focusing on industry-specific solutions and new product innovation, including AI. The company also leverages its partner ecosystem and aims to maintain strong customer adoption while reducing customer attrition. Salesforce prioritizes strategic investments and acquisitions to complement organic growth and platform development.

Industry Context

Salesforce is a leader in the CRM market, competing with vendors of packaged business software, enterprise software application vendors, cloud computing application service providers, and companies offering specialized or free software. The market is highly competitive, rapidly evolving, and fragmented.

Risk Factors

  • Security Risks: Data breaches or system failures could compromise customer data and harm the company's reputation.
  • Service Disruptions: Defects or disruptions in services could impact customer satisfaction and revenue.
  • Competition: Intense competition from established and emerging players could limit market share and profitability.
  • Acquisition Integration: Difficulties integrating acquired companies or technologies could disrupt operations and dilute stockholder value.
  • Customer Attrition: Failure to retain customers could negatively impact revenue and growth.

Last Updated

2024-03-06

(Generated from latest 10-K filing)