Who bought slackslack software#
Since founded in 1999, Salesforce has been looked at not only as a pioneer in Enterprise Software but as true go-to-market experts. Ability to boost Slack’s revenue by selling it to the Enterprise:Īs of 2020, 90% of Fortune 500 companies use Salesforce. The product was retired in early 2018 but Salesforce has always seen the benefit of integrating real-time chat and communication, so this is a big part of Slack’s value.
Let’s not forget that Salesforce acquired Chatter for $31 million way back in 2011 with the goal of building in-app communication & collaboration tools. Salesforce has been investing heavily in their Customer 360 platform - a way to give enterprise organizations a unified view of the customer across marketing, sales, commerce, and support touchpoints - and the ability to communicate effectively at every stage in the customer journey is a critical element. This is not only about how data flows from Sales applications to Marketing applications but also how those teams are communicating and collaborating with each other, while operating out of different applications. The Salesforce ecosystem of products has grown larger and more complex over the years (largely driven by the aforementioned acquisition strategy) and a major challenge that comes with this type of SaaS portfolio expansion is building the communication layer that sits between all applications. In this particular case, we have identified 4 primary reasons this $27.7B acquisition made sense in the eyes of Salesforce. Why did Salesforce acquire Slack?Īs noted, there are a variety of reasons why a large player like Salesforce targets high-growth SaaS startups like Slack for acquisition. The ability to acquire true visionary leaders like Bret and David, in addition to the hundreds of talented, knowledgeable Architects, Developers, and Product Strategists brings immense intellectual property value to a large, incumbent vendor like Salesforce. 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’.
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