Salesforce develops and sells customer relationship management systems to businesses of all sizes. Its applications help record, track, manage, analyze and share information regarding sales, customer service and support, and marketing operations. In 2011, Forbes named Salesforce ‘the world’s most innovative company’ and in September 2012, the company won the award for a second consecutive year.
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Salesforce was founded in 1999 and the following year launched its first online sales force automation solution aimed at the customer relationship management (CRM) application market. The company launched its first online CRM encompassing sales force automation, marketing automation, and customer service and support in 2001.
In 2011, Forbes awarded Salesforce the title of ‘The world’s most innovative company,’ citing the company’s commitment to innovation and its willingness to take risks by acquiring companies that it feels will allow Salesforce to expand into a new area of operation or whose own activities will complement those of Salesforce and help it advance.
Despite revenue growth in recent years, the company posted its first loss since becoming publically traded in 2004 and it is also struggling to vary its revenue model, both operationally and geographically.
Your key questions answered
Why does Forbes regard Salesforce as the most innovative company in the world?
How has Salesforce used acquisitions to expand and develop its offering?