Former Vlocity Founder & CEO, David Schmaier, joined after their February 2020 acquisition by Salesforce and is currently Salesforce President & Chief Product Officer. For example, Salesforce acquired Quip in 2017 (now Salesforce Anywhere) and Quip Founder & CEO, Bret Taylor, has been President & COO at Salesforce since November 2017. The secondary advantage is that Salesforce absorbs the customer base from those acquisitions, which they are able to cross-sell on other Salesforce products - for instance, a company that was a Demandware customer (now B2C Commerce Cloud) could immediately be sold Service Cloud and Marketing Cloud, thus generating incremental revenue with ease.Ī final benefit, in addition to acquiring technology & customers, is the ability to acquire talent. This list goes on to include Demandware, Quip, CloudCraze, MuleSoft, MapAnything, Tableau and other acquisitions that have become core ‘Salesforce Clouds’.
ExactTarget was acquired by Salesforce in June 2013 ($2.5B) and is currently Salesforce Marketing Cloud.
This has been seen in some of Salesforce’s most successful acquisitions: This enables them to integrate those vendor's product features into the Salesforce roadmap and release features significantly faster than if they built the same functionality from scratch.
Typically, their strategy is to identify existing SaaS vendors that build solutions complementary to the core Salesforce offering.
Over the past 15+ years, Salesforce has been known to pursue growth through an aggressive acquisition strategy across a variety of product and service companies. Before we take a look at the reasons Salesforce acquired Slack in December 2020, it’s important to look back at a brief history of Salesforce’s acquisition strategy in general.
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