Salesforce is obsessed with acquisitions. Salesforce has made 68 acquisitions to date. The hunger for acquiring tech shows Salesforce’s love for innovation. And it’s not just for love. Being the King of CRM is not easy. Businesses keep evolving. The last decade has seen a drastic evolution in technology throughout the world. Businesses need to be at par with the changes, customer demands and changing conditions. The COVID 19 pandemic presents businesses and the whole world with yet another unique challenge. The challenge was disrupting and the only way to conquer such challenges is constant evolution and innovation. Salesforce’s hunger for acquisition is their hunt for the best tools to help them achieve optimum customer satisfaction and promote an easy and efficient work infrastructure. This article will discuss the top 8 Salesforce acquisitions of the last decade. We will also see how these acquisitions have helped Salesforce become a better platform and maintain its position as the market leader.
But first
Why is Salesforce Acquiring So Many Businesses?
Answer- To beat the CRM competition
Salesforce may be the best out there but it’s certainly not alone. It has seen the rise of many big names in the world of CRMs like Oracle CRM On Demand, Microsoft Dynamics365 , Adobe and many small ones like Zoho. All of them offer specific features for their customers and are quite popular. Salesforce constantly needs to expand itself in order to retain the top spot.
Acquiring platforms and integrating them with its own products enable Salesforce to
- Extends its footprints to every type and size of business.
- Bring in new innovative features.
Top 8 Salesforce acquisitions of the last decade
1. Acumen Solutions
Acquisition Date: 1s December 2020
Amount Paid: $570 Million
Acumen Solution is a popular cloud consultancy platform. With Acumen integration, Salesforce will be able to deliver its global customers with professional support and consultation to help them achieve growth in terms of engagement, sales, efficiency and customer satisfaction.
2. Slack
Acquisition Date: 1st December 2020
Amount Paid: $27.7 Billion
Slack is a powerful and flexible enterprise communication application. The application is the biggest competitor of Microsoft Teams. The pandemic driven need for remote work gained tremendous popularity in the last two years and businesses realised that an efficient platform for the same is required. Salesforce saw the right time and opportunity and acquired the platform. Slack is the costliest acquisition Salesforce has ever made. Slack integration is set to empower Salesforce’s Customer 360 approach.
3. Vlocity
Acquisition Date: 1st June 2020
Amount Paid: $1.33 Billion
Vlocity is a cloud-based CPQ (Configure, Price, Quote) application. It focuses on speeding up the sales process with its features. It’s a great companion to the Salesforce CPQ. Read about the difference between these two here.
4. MuleSoft
Acquisition Date: 2nd May 2018
Amount Paid: $6.5 Billion
This Data Integration Platform unifies data to create a single customer view. It’s also used for business process automation, integrating solutions and connecting devices, applications and information to great a connected experience.
5. Tableau
Acquisition Date: 1st August 2019
Amount Paid: $15.7 Billion
Tableau is a visualization tool for business analytics. It’s a really powerful and popular tool. Any kind of data, chart or graph and be easily visualized with it. It’s highly compatible with different kinds of cloud-based data and requires no technical knowledge to work on. Tableau is considered the best analytics tool in the world.
6. Click
Acquisition Date: 7th August 2019
Amount Paid: $15.7 Billion
Salesforce emphasises Service. Click software works on making the Field service workforces more efficient and effective. The Click team was also involved in the development of Salesforce Field Service Lightning (FSL). The acquisition had to follow.
7. ExactTarget
Acquisition Date: 4th June 2013
Amount Paid: $15.7 Billion
This is now known as the Salesforce Marketing Cloud. ExactTarget had acquired Pardot earlier. The acquisition gave Salesforce the power of marketing automation. A single application has many great features which can help businesses reach tremendous heights. The platform has gained Salesforce huge success and popularity.
8. Demandware
Acquisition Date: 1st June 2016
Amount Paid: $2.8 Billion
Demandware, now called the Salesforce Commerce Cloud, is a cloud-based E-commerce platform. The platform is feature-rich and is optimized to provide a fast and seamless B2C business experience. The user doesn’t have to worry about putting effort into creating a new e-commerce roadmap for their business. The platform is robust and constantly improved by Salesforce.
Conclusion
Though Salesforce has a long list of acquisitions in the last decade, we mention the ones that we feel brought the most value to the organization. The acquisitions tell us that Salesforce is quick and keen to recognise gaps and always tries to fill them whenever they find the right opportunities or the right platforms. This vision is the reason why Salesforce has been awarded the title of the best CRM for eight consecutive years. The constant hunger for innovation and growth would surely help them be on the top for a long time to come.
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