Salesforce.com Inc. (NYSE: CRM
) Share price YTD:
Benioff co-founded Saleforce.com in 1999. Despite growing competition from larger companies such as Microsoft Corp. (NASDAQ: MSFT
) and Oracle Corp. (NASDAQ: ORCL
), Salesforce.com has maintained a torrid growth pace. Last quarter, revenue rose 35% to $788 million. Revenue for the first nine months rose 36%. Management forecasts that revenues for the entire fiscal year will be higher by 34% than they were last year. And this growth rate likely will not slacken. Salesforce.com expects to surpass a $4 billion annual revenue run rate during the 2014 fiscal year. Salesforce.com was one of the earliest companies into the cloud computing market — what has become one of the most important factors in the migration of information from data centers owned by corporations to those operated by outside companies. As Morningstar recently pointed out, “Customers have been able to avoid heavy capital investments they would have used to deploy on-premise software.” Forbes named Salesforce.com the “Most Innovative Company in the World” for 2012.
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