The History of Salesforce:
Here’s The History of Salesforce, including newsworthy highlights and a timeline of milestones:
1999:
· Salesforce started its journey in February with a clear vision of becoming “A World-Class Internet Company for Sales Force Automation.”
· Salesforce was incorporated on March 8, and Marc Benioff, Parker Harris, Frank Dominguez, and Dave Moellenhoff began developing its first CRM version. They operated from a rented one-bedroom apartment at 1449 Montgomery Street in San Francisco’s Telegraph Hill.
· By the end of its first year, the company had expanded to 40 employees and occupied an 8,000-square-foot office at the Rincon Center.
2000:
· Like many other tech companies, Salesforce encountered difficulties due to the dot-com bubble burst, leading to layoffs of 20% of its workforce.
· On February 7, Salesforce officially launched an event themed “The End of Software” at the Regency Theater in San Francisco, featuring 1,500 attendees and a concert by The B-52s.
· In March, Salesforce received its first major press coverage in The Wall Street Journal when it hired actors to stage a mock protest outside a Siebel Systems conference. The “protestors” carried signs with anti-software messages to drive home Salesforce’s “The End of Software” marketing tagline.
· Salesforce.org launches the 1-1-1 model, leveraging its technology, people, and resources to improve communities worldwide.
· In November, the expanding business relocates from the Rincon Center to a larger space at One Market Street.
· Salesforce’s revenue for FY 2001 was approximately $5.4 million.
2001:
· In April, Salesforce declared its entry into the global marketplace by setting up headquarters in Dublin and Tokyo.
· In November, Benioff is named Chief Executive Officer and Chairman.
· Salesforce’s revenue for FY 2002 was approximately $22.4 million.
2002:
· By year-end, Salesforce had 5,740 customers and 70,000 users across 107 countries, using the service in multiple currencies and eight languages.
· Salesforce’s revenue for FY 2003 was approximately $51 million.
2003:
· Salesforce held its first annual Dreamforce conference at the Westin St. Francis Hotel in San Francisco.
· Salesforce established a worldwide presence by opening offices in Australia, France, Germany, Ireland, Japan, Spain, and the U.K.
· Salesforce’s revenue for FY 2004 was approximately $100 million.
2004:
· Salesforce successfully completed its initial public offering on the New York Stock Exchange on June 23, raising $110 million at $11 per share.
· Salesforce’s revenue for FY 2005 was approximately $176 million.
2005:
· In September, Salesforce introduced its AppExchange service, which was designed to offer a platform to third-party developer to develop their applications and provide those applications to Salesforce customers.
· By the end of the year, the company’s customer base reaches 20,500 globally, with almost 400,000 unique users.
· Salesforce’s revenue for FY 2006 was approximately $309.98 million.
2006:
· Salesforce’s mobile journey begins with the acquisition of the wireless technology startup Sendia and the original Salesforce mobile app, AppExchange Mobile.
· The AppExchange ecosystem grows into a vibrant marketplace with 575 apps from 250 independent software vendors.
· The Power of Us partner program launches, connecting Salesforce’s partners with the 1-1-1 philanthropy model.
· Salesforce’s revenue for FY 2007 was approximately $497 million.
2007:
· IdeaExchange (now Trailblazer Community) launched, inviting customers to contribute new feature ideas for future releases.
· The AppExchange community had 450 independent software vendor partners.
· Salesforce reported revenue of $748.7 million for FY 2008.
· Salesforce’s revenue for FY 2008 was approximately $748.7 million.
2008:
· Forbes recognized Salesforce as one of the fastest-growing technology companies globally.
· Force.com is released, making it easier for customers to build and install apps on Salesforce’s architecture.
· Salesforce’s revenue for FY 2009 was approximately $1 billion.
2009:
· Salesforce launched Service Cloud, bringing customer service and support automation features to the market.
· Salesforce.org gave $14 million in grants to support nonprofits.
· Salesforce Chairman and CEO Marc Benioff published Behind the Cloud, a memoir about the company’s early days and its growth to $1 billion in annual revenues.
· Salesforce has expanded its global customer base to 72,000 clients.
· Salesforce’s revenue for FY 2010 was approximately $1.3 billion.
2010:
· Fortune magazine ranked Salesforce fourth on its list of the world’s fastest-growing companies.
· Salesforce concluded the fiscal year with over 92,000 customers and 5,000 employees.
· Salesforce’s revenue for FY 2011 was approximately $1.66 billion.
2011:
· Salesforce launched Chatter as a social collaboration service for the enterprise. In its first year, more than 80,000 customers adopted Chatter.
· Forbes named Salesforce one of “The 50 Companies of Tomorrow,” recognizing its innovation.
· Salesforce’s revenue for FY 2012 was approximately $2.27 billion.
2012:
· Gartner ranked Salesforce #1 in CRM.
· Forbes selected Salesforce as the world’s most innovative company for the second consecutive year.
· The company crossed a threshold with more than 100,000 customers.
· Salesforce’s revenue for FY 2013 was approximately $3 billion.
2013:
· Salesforce completed its largest acquisition to date with ExactTarget, allowing it to supercharge the power of Marketing Cloud.
· The Salesforce1 Platform launched, empowering customers to run their business from their phones.
· Salesforce’s revenue for FY 2014 was approximately $4 billion.
2014:
· Salesforce launched Trailhead, empowering anyone, regardless of education level, to develop the skills needed for tech jobs.
· Salesforce has more than 150,000 customers and 16,000 employees.
· Salesforce’s revenue for FY 2015 was approximately $5 billion.
2015:
· Salesforce entered the Fortune 500. Fortune also recognizes Salesforce as one of the Top 10 Best Companies to Work For and one of the World’s Most Admired Software Companies.
· When San Francisco runs short of hotel rooms for Dreamforce attendees, Salesforce docks the ‘Dreamboat’ cruise ship to provide 1,000 extra accommodations.
· Salesforce’s revenue for FY 2016 was approximately $6.66 billion.
2016:
· Salesforce launched Einstein, the first comprehensive artificial intelligence (AI) technology for CRM, making AI accessible to every company and business user.
· Salesforce is named the #1 “Workplace for Giving Back” by Fortune.
· Forbes recognized CEO Marc Benioff as “the decade’s top innovator.”
· Salesforce has more than 25,000 employees across 25 countries.
· Salesforce’s revenue for FY 2017 was approximately $8.4 billion.
2017:
· Ninety-five of the Fortune 100 run at least one app from the AppExchange.
· Salesforce has 29,000 employees around the world and more than 150,000 customers.
· Salesforce’s revenue for FY 2018 was approximately $10.5 billion.
2018:
· Dreamforce gathered Trailblazers from 120 countries and 50 U.S. states, with more than 171,000 registered attendees and 16 million online viewers.
· Salesforce Tower, the tallest skyscraper in San Francisco, was inaugurated.
· Salesforce’s revenue for FY 2019 was approximately $13.3 billion.
2019:
· Fortune has ranked Salesforce as one of its 100 Best Companies to Work For for the 12th consecutive year, one of the top 10 Most Admired Companies in the World, and one of the Best Workplaces for Giving Back.
· Over the last two decades, Salesforce has provided $330 million in grants to worthy causes, employees have volunteered 4.9 million hours, and 46,000 nonprofits and NGOs use the software for free or at a discount.
· Salesforce’s revenue for FY 2020 was approximately $17 billion.
2020:
· IDC has ranked Salesforce #1 in CRM for the 7th year in a row, gaining more share of the market than the next nine competitors combined.
· Salesforce launched a number of products and resources, such as Salesforce Care, Work.com, Vaccine Cloud, etc, to help companies navigate the pandemic.
· Salesforce hosted a virtual Dreamforce, which attracted more than 140 million views, and its first-ever Dreamforce To You, which brought a version of Dreamforce tailored to individual customers around the world.
· Salesforce’s revenue for FY 2021 was approximately $21 billion.
2021:
· Salesforce+ is introduced, an all-new streaming service with compelling live and on-demand content for every role, industry and line of business.
· Salesforce announced that it is a Net Zero company across its full value chain and has achieved 100% renewable energy for its global operations by procuring renewable energy equivalent to our electric energy usage.
· Salesforce commits to new equality initiatives following widespread incidents of racial injustice and advocates for police reform.
· Salesforce’s revenue for FY 2022 was approximately $26 billion.
2022:
· In April 2022, “Salesforce.com, Inc.” changed its legal name to “Salesforce, Inc.”
· Salesforce announced Data Cloud, a hyperscale real-time data platform.
· Salesforce has received several significant recognitions, including Most Sustainable Company, World’s Best Workplace, and World’s Most Admired.
· Salesforce’s revenue for FY 2023 was approximately $31 billion.
2023:
· Salesforce announced layoffs affecting around 10% or roughly 8,000 positions.
· Salesforce Ventures, the company’s global investment arm, launched a $500 million generative AI fund to bolster the AI startup ecosystem.
· Salesforce announced Einstein Copilot, bringing a conversational AI assistant, safely grounded in business and customer data, to every CRM application and customer experience.
· Following the 1-1-1 model, Salesforce has donated over $704 million in grants, contributed 8.7 million hours of community service, and donated products to more than 56,000 nonprofits and educational institutions.
· Salesforce’s revenue for FY 2024 was approximately $34 billion.
2024:
· Salesforce celebrated a quarter-century of innovation on its 25th anniversary.
· Salesforce was ranked the #1 CRM provider for the 11th consecutive year.
· Salesforce introduced Agentforce, a complete AI system for enterprises built into the Salesforce Platform that powers a digital labor force and revolutionizes how industries operate and scale.
· Salesforce’s revenue for FY 2025 was approximately $38 billion.
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