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  • Salesforce helps teams across departments stay organized with a central source of data to serve customers better.
  • Salesforce has a wide range of CRM products, features and tools designed to help small businesses sell smarter and grow.
  • Salesforce includes AI-powered tools with effective algorithms to help you serve the best deals to the right customers at the perfect time.
  • This review is for small business owners who are interested in implementing Salesforce as their CRM. 

Salesforce is among the earliest and best-known cloud-based customer relationship management (CRM) platforms. The software service provider has an expansive collection of CRM products for sales, service, marketing, commerce, sustainability, safety and experiences. In addition to its variety of need-based software solutions, Salesforce offers custom packages for businesses of every size to connect marketing, sales, commerce, service and IT teams with a unified solution for every phase of their customers’ journeys. In our review, we focused on what Salesforce has defined as its Small Business Solutions – the Essentials, Sales Professional, Service Professional and Marketing Cloud Account Engagement editions. Our Professional edition demo account was built for a sales team at a small business with fewer than 20 employees who need user accounts.

Salesforce’s Editor’s Score: 95/100

Ease of use 96
Features 96
Integrations 95
Pricing 95
Customer service 92

Why We Chose Salesforce for Small Businesses

Salesforce is among the industry leaders in cloud-based CRM solutions and has the widest variety of plans and features we’ve reviewed. Unlike the other industry giants, Salesforce gears many of its product offerings and its pricing toward small businesses that want to start with a simple and effective all-in-one sales and customer service tool. Salesforce learns and grows with your business, thanks to intelligent tools that Boost with each customer interaction. As a centralized source of data, Salesforce makes it easier to understand how to allocate marketing efforts and tailor messages for different customer segments with helpful AI-powered recommendations from Einstein. With easy-to-use automations, timesaving macros, AI-powered insights and detailed customer information, business owners and small sales teams can eliminate repetitive manual tasks and focus their energy on delivering personalized service and deals at the perfect times in their customers’ journeys.

Salesforce customer records
Salesforce keeps records of every customer interaction and communication, which any registered user in your company can access from any device.

Source: Salesforce

Pros

  • An expansive range of available CRM products means that Salesforce can grow with your company.
  • Salesforce acts as a single source of customer data for everyone in your company to Boost customer experiences and outcomes.
  • Salesforce has a targeted set of CRM products engineered for small businesses.

Cons

  • Larger businesses may have to pay additional fees to use Salesforce integrations effectively.
  • Most Salesforce plans require an annual commitment.
  • It could be difficult to get immediate technical assistance during nonbusiness hours.

Usability

Despite its potential complexity and advanced set of features, Salesforce is far from a difficult product to set up and use in a small business setting, even for first-time CRM account owners. However, if usability is your top priority, you may want to consider another CRM, such as Keap or monday.com Sales CRM, two of the top choices for ease of use (learn more in our Keap review and monday.com Sales CRM review). Once you’ve gone through the brief setup process to import your contacts and build your sales workflows, you can begin collecting new leads and making more sales with live in-product help to assist with any minor issues.

Even with Salesforce Essentials, the company’s entry-level edition, automated tools will log sales activities like emails and calendar entries with the AI-powered tool named Einstein. With all of your customer data stored in one location, it’s easy to develop effective sales strategies and keep track of every step of your customers’ journeys. On the support side, you can help your customers resolve common issues by publishing a searchable knowledge center from a readymade template.

As your small business grows, you can easily add features from the AppExchange or upgrade to a better-featured plan to suit the evolving needs of your customers and employees. All of your CRM features are available through the mobile CRM apps, letting you and your team work effectively from anywhere. [Related article: 12 Features to Look for in a CRM Solution]

Salesforce sales process
You can see and manage your entire sales process, from new leads to close, through any internet-connected device.

Source: Salesforce

Salesforce Features

You would be hard-pressed to find a popular CRM feature that’s not available with Salesforce in a standard edition or as an existing add-on. Even with the entry-level Essentials plan, you’ll have access to AI-powered features and automations with Einstein Activity Capture. These sorts of tools are typically reserved for more expensive, higher-tier plans with other service providers. All Salesforce plans include features for data syncing, sales tracking, customer support, mobile access, custom reporting, integrations and everything else you need to manage customer sales and support. We’ve highlighted a few of the features that are most effective for small business owners.

Sales forecasting Stay ahead of annual budgets and quarterly goals with real-time sales forecasting.
Lead management Go from lead to close with automated processes and intelligent deals.
Social intelligence Get insights into relevant and trending social engagement for your account.
Einstein recommendations Receive AI-powered, personalized product and service recommendations at the right time.

Sales Forecasting

Salesforce provides an accurate and up-to-date view of your entire business pipeline. You can motivate your sales reps to exceed their targets with up-to-the-minute leaderboards to encourage friendly competition. You can easily identify areas where your business is struggling through an objective, data-driven point of view to make necessary adjustments and stay on track with your revenue goals. The software builds forecasts with a set of weighted variables that can include the owner, time, forecast categories, product family and territory. According to Salesforce, sales leaders can usually expect to see accuracy within 10% of their forecasted data.

Salesforce progress
As a sales manager, you can see your team’s progress with quarterly and monthly goals, and dive into any piece of data for great insight.

Source: Salesforce

Lead Management

You can use landing pages and email to automatically add new leads and route them to the appropriate sales representative. Your reps will automatically have all the information they need to follow up with one click to email from a personalized template or make a call with the built-in dialer. You can customize your lead’s information pages to highlight the details that matter to your business, and guide your reps on what they should focus on and accomplish next. You can automate many manual tasks and set up complex macros to handle multiple time-consuming actions quickly in a single click. With key information and helpful automations, your reps can spend more time selling and less time learning about their customers.

Salesforce lead filtering
You can manually filter leads to determine the strongest opportunities.

Source: Salesforce

Social Intelligence

Available as an add-on for $25 per month, the unique Social Intelligence feature helps business owners and managers harness engagement across social media networks to make better sales decisions. This social listening tool uses natural language processing to gain an understanding of trending news and business events for your accounts, competitors and industry. You can use this tool to identify new leads, set reminders to reach out to a contact, search for account names, and use keywords to surface business events and key conversations to reach your customers where they congregate online.

Einstein Recommendations

Salesforce’s AI-powered recommendations combine user behavior from every recorded interaction with your business’s custom rules to develop comprehensive user profiles and deliver targeted content across email and web. To build a recommendation, you’ll need to select a product or service from your catalog, determine which audience segment will receive it, and define the type of data or past outcomes Einstein will use to make a recommendation. For example, a financial institution can recommend a banking product, like an auto loan, from its Salesforce catalog to all available contacts based on their bank account activity. Depending on each contact’s bank account information, Einstein can tailor an appropriate and unique offer to entice a purchase.

Salesforce catalog
You can select a sellable item from your Salesforce catalog, set your segmented contacts, and let Einstein dive into the data to make the best offers to the right prospects at the perfect time for a sale.

Source: Salesforce

Salesforce Cost

The Salesforce Small Business CRM has four plans with three distinct tiers. The entry-level Essentials edition, which has a limit of 10 user accounts, includes everything you’ll need from a CRM to run your business efficiently from one cloud-based platform. For the middle-tier Professional option, you can choose between the Sales Professional and the Service Professional, based on how you interact with your customers. Rather than a per-seat price, the upper-tier Marketing Cloud Account Engagement is priced by the number of contacts you manage and includes support for 10,000 contacts.

Key TakeawayFYI: Salesforce bases the pricing for some of its plans on the number of users, while others are priced by the number of customer contacts.

You can purchase add-ons for new features or extended capabilities for sales, service, marketing, commerce, analytics and more. Most plans require an annual payment plan.

Plan Starting price (per user per month) Features
Essentials $25 Lead management, duplicate blocking, web-to-lead capture, mass email, custom sales processes, mobile apps, offline functionality, custom dashboards, custom reports, file sharing, case management, 5 automation workflows per organization
Sales Professional $75 Everything in Essentials, custom sales console app, collaborative forecasts, forecasting app, contrats, orders, quotes, unlimited custom apps, custom roles, developer sandbox
Service Professional $75 Everything in Essentials, service contracts, entitlements, case milestone tracker, service orders, advanced case management, work order management, product tracking, custom profiles, unlimited custom apps, developer sandbox
Marketing Cloud Account Engagement $1,250 Up to 10,000 contacts, email marketing, drag-and-drop content creation, Sales Cloud integration, subscriber profiles, segmentation, event-triggered communications, automated workflows, basic reporting, A/B testing, personalized communications

Setup

The difficulty of setting up Salesforce is largely dependent on the product you select, size of your team, number of contacts and complexity of your CRM workflows. However, for a small business setting up an Essentials plan, Salesforce is considered fast and easy. The self-help resources include more than 350 YouTube videos, more than 120 webinars and a large collection of on-demand expert coaching videos to help you with everything from importing your contacts to building out automated sales processes. During the setup process, Salesforce provides to-do lists and recommended steps to help you connect to your email, set up your sales processes, customize fields, import data, and start collecting and nurturing leads.

Key TakeawayKey takeaway: Small businesses and anyone new to CRM features should have an easy time getting their Salesforce account up and running.

Customer Service

Salesforce’s customer service is available 24/7 by phone, email, and chat, but finding the help you need may take some time. Salesforce prefers customers to request a support call via online form to initiate a technical support case. (This is similar to what we saw in our review of Oracle NetSuite CRM.) While this practice helps ensure the correct person is available to resolve your issue, the waiting period may be frustrating if your sales or support activities are impacted and you need an immediate resolution.

When we called for technical support outside of normal business hours, we were informed that Salesforce was experiencing high call volume and were encouraged to seek a solution on our own at Help.Salesforce.com.

Drawbacks

Integrations on the Essentials plan are limited to DocuSign, Dropbox, HelloSign, CodeScience, ActiveCampaign and Zapier. While Zapier alone can cover many of the must-have CRM integrations, you’ll have to pay extra for a plan that offers more than 100 automated tasks per month.

The majority of Salesforce’s products require an annual subscription. Most CRM providers offer annual and monthly payment options for most of their plans (see examples in our HubSpot review and Zoho CRM review).

Methodology

Our editorial team and contributing writers considered all of the major CRM software providers in 2022 for review. After performing our initial research into each platform, we selected 11 of the leading CRM solutions available today for small businesses: Salesforce, monday.com Sales CRM, Freshworks, Keap, Zoho, Oracle NetSuite, HubSpot, Insightly, Pipedrive, SugarCRM and Zendesk. After spending many hours participating in live product demos and testing each platform, we identified the best use case for 11 providers to help small businesses owners and managers choose the best CRM for their needs. We’ve also taken a deeper dive with six of our top performers, providing greater insight into the features and tools that separate these CRMs from the rest of the competition. Salesforce meets the needs of small businesses and teams with easy-to-use features to manage leads, stay on top of sales goals and automatically identify insights into the social trends that are relevant to your company. The platform’s features are expansive, ensuring you’ll always have access to the CRM tools you need as your business evolves.

Salesforce FAQs

Does Salesforce have a free version?

No, Salesforce does not currently offer a free version of its CRM software. However, it does offer a free 14-day or 30-day trial for most products so you can test them rigorously. The lowest-priced plan offered by Salesforce, Essentials, costs $25 per user per month when billed annually and includes a 14-day free trial.

Is Salesforce a cloud-based platform?

Yes. In fact, Salesforce was one of the early cloud-based software service providers. Its cloud-based software solutions cover CRM, sales, enterprise resource planning, marketing automation and analytics.

Which companies use Salesforce?

According to the customer success stories on Salesforce’s website, many global companies use the cloud-based service for sales, marketing, communications and more. Those companies include IBM, Mercedes-Benz, NBC, Herman Miller, RBC, Morgan Stanley, PayPal, AT&T, 3M, ADP, Adidas, AWS, American Express, American Red Cross and Asana.

Overall Value

We recommend Salesforce CRM for …

  • New businesses looking for their first CRM platform.
  • Small businesses shopping for a basic all-in-one sales and support platform.
  • Scaling businesses expecting steady growth and looking for a flexible CRM to meet their evolving needs.

We don’t recommend Salesforce CRM for …

  • Businesses in niche industries that don’t segment their audience.
  • Businesses seeking an equal mix of sales and customer service from their CRM.
  • Enterprise-level businesses that want a lot of customizable features and tools.
Thu, 01 Dec 2022 10:00:00 -0600 en text/html https://www.businessnewsdaily.com/7840-best-crm-software-small-business.html
Killexams : What the heck happened to Salesforce?

New York CNN Business  — 

Tech stocks have taken a nasty tumble this year, but some are doing even worse than others. Exhibit A: software giant Salesforce.

Shares of Salesforce (CRM) have plunged about 40% so far in 2022. That makes it the second-worst performer in the Dow, trailing only chip leader Intel (INTC). Salesforce (CRM) has lagged the performance of top cloud software rivals such as Microsoft (MSFT), Germany’s SAP (SAP) and Oracle (ORCL).

Salesforce isn’t really doing all that badly. In fact, the company reported sales growth of 22% from a year ago back in August, but it also cut its revenue and profit forecasts at the time.

Salesforce said it now expects earnings per share of about $1.20 to $1.21 for this quarter and sales of $7.82 billion to $7.83 billion. Analysts had been expecting earnings of $1.29 a share and revenue of nearly $8.1 billion.

So is Salesforce, led by co-CEOs Marc Benioff and Bret Taylor, due for a comeback in 2023? Or will the company remain in Wall Street’s penalty box as it absorbs and integrates a series of expensive acquisitions over the past few years?

Salesforce has spent nearly $50 billion since 2018 to buy application software company MuleSoft, data visualization software leader Tableau and workplace productivity suite Slack. The Slack deal cost Salesforce about $28 billion.

Investors will get an update on how all these deals are panning out when Salesforce reports its latest earnings after the closing bell Wednesday. Analysts are predicting that sales will be up 14% from a year ago but profits will fall slightly.

Salesforce president and chief financial officer Amy Weaver conceded during an analyst meeting in September that “we have seen increased risks and uncertainties” in accurate months. But she stressed that demand for the company’s software remains strong.

A majority of Wall Street analysts remain bullish on Salesforce. According to data from Refinitiv, 40 of the 50 analysts that cover the company have a “buy” rating on the stock. (The remaining 10 have a “hold.” There are no “sell” recommendations.)

And the consensus price target for the stock is nearly $216 a share, 40% higher than current levels.

Still, analysts are likely to have questions about what’s next for Slack under Salesforce’s ownership. Microsoft has stepped up its own competitive efforts versus Slack with its Teams product.

“Microsoft Teams continues to be the gorilla in the room, indicating that existing customers of Salesforce have been less responsive to picking up Slack,” said Daniel Morgan, senior portfolio manager with Synovus Trust Company, in a report. “Mounting competition from Teams and increasing pricing pressure create some headwinds.”

Tue, 29 Nov 2022 02:24:00 -0600 en text/html https://www.cnn.com/2022/11/29/investing/salesforce-stock-earnings/index.html
Killexams : Salesforce CEO succession drama and other TC news

This week, I talk with Rita Liao about the great wall of porn obscuring information about protests in China. And Ron Miller comes on to recap the AWS re:Invent event and his story on Salesforce co-CEO Bret Taylor stepping down. And as always, we break down the biggest stories in tech.

Articles from the episode:

Other news from the week:

Fri, 02 Dec 2022 05:12:00 -0600 en-US text/html https://techcrunch.com/2022/12/02/salesforce-ceo-succession-drama-and-other-tc-news/
Killexams : Salesforce may eliminate more downtown San Francisco office space in the future

The city’s largest private employer could continue to downsize its office footprint, executives said in a accurate earnings call.

Salesforce CEO Marc Benioff said there will continue to be flexibility for employees who want to work from home, while Chief Financial Officer Amy Weaver said the software company is continuing to evaluate its real estate holdings. Salesforce did not respond to a request for comment as of publication.

"Over the past two years, we have continued to re-imagine our real estate strategy,” Weaver said on the call. “That is not only to optimize for scale but also continue hybrid work environment and how people are working and how they're using their space. And this has included reducing our footprint fairly significant right now."

Salesforce has already begun eliminating some office space in San Francisco. The company listed nearly half of its office space at 50 Fremont St., the 43-story Salesforce West tower, in July 2022. It will maintain ownership of the building and may reoccupy the space in the future, a Salesforce spokesperson told SFGATE at the time. It also canceled a 325,000-square-foot lease at the unbuilt Parcel F tower in San Francisco’s Transbay neighborhood in March 2021.

“We are subleasing floors in Salesforce West to make the most efficient use of our real estate footprint,” the statement said at the time. “As the largest private employer in San Francisco, we are deeply committed to the city and are actively welcoming employees back to Salesforce Tower."

Salesforce laid off hundreds of employees in November 2022, just a month after eliminating around 90 people in October. It has also frozen hiring until January 2023.

The company has over 10,000 employees in the Bay Area. Despite downsizing in San Francisco, it announced in a March blog post its plans to open Salesforce Towers in Tokyo, Dublin, Sydney and Chicago over the next two years.

San Francisco recently hit a record high in office space vacancy.

Fri, 02 Dec 2022 06:28:00 -0600 en-US text/html https://www.sfgate.com/bayarea/article/salesforce-could-downsize-sf-offices-17627089.php
Killexams : Salesforce set to report earnings after Wednesday’s close

Yahoo Finance Live looks ahead to Salesforce's earnings report expected out tomorrow.

Video Transcript

[AUDIO LOGO]

- My stock to watch for Wednesday is Salesforce, set to report earnings tomorrow after the close. Analysts are expecting revenue to grow 14% year over year to 7.82 billion. Rather dramatic slowdown from the 26% from the same quarter last year. Adjusted earnings expected to come in at 1.22, $1.22 per share the company has topped estimates every single time over the last two years. You can see shares down there a bit today.

Tue, 29 Nov 2022 08:18:00 -0600 en-US text/html https://finance.yahoo.com/video/salesforce-set-report-earnings-wednesday-215727126.html
Killexams : What investors are watching when Salesforce reports 3Q results on Wednesday

Club holding Salesforce (CRM) is set to report fiscal third-quarter 2023 results after the closing bell Wednesday, and we'll be looking to see how the enterprise software maker has weathered gathering macroeconomic headwinds.

Tue, 29 Nov 2022 22:58:00 -0600 en text/html https://www.cnbc.com/2022/11/29/what-investors-are-watching-when-salesforce-reports-3q-results-.html
Killexams : This Salesforce Analyst Was Bullish for a Decade. Not Any Longer.

Wolfe Research has given up its positive view of Salesforce stock shares in response to the company’s latest earnings results.

Earlier this week, Salesforce (ticker: CRM ) gave a disappointing financial outlook when it reported its numbers for its fiscal third quarter. The sales and marketing cloud-software company also said its co-CEO, Bret Taylor, is stepping down effective at the end of January. Co-CEO Marc Benioff will become the sole chief.

Fri, 02 Dec 2022 03:28:00 -0600 en-US text/html https://www.barrons.com/articles/salesforce-stock-downgrade-51670001398
Killexams : Salesforce stock falls over 5% on earnings and sudden departure of co-CEO Bret Taylor

Salesforce cofounder and co-CEO Marc Benioff speaks during the grand opening of the Salesforce Tower, the tallest building in San Francisco, Calif., Tuesday, May 22, 2018.

Karl Mondon | Bay Area News Group | Getty Images

Salesforce reported earnings and revenue on Wednesday that beat analyst expectations. It also announced that co-CEO Bret Taylor is stepping down. CEO and Salesforce co-founder Marc Benioff will the be sole person in charge of the company.

Salesforce stock fell over 6% in extended trading.

Here's how the company did versus Refinitiv consensus estimates for the quarter ending in October:

  • EPS: $1.40, adjusted, versus $1.21 expected by analysts
  • Revenue: $7.84 billion versus $7.82 billion expected by analysts

Salesforce said it expected between $7.9 billion to $8.03 billion in revenue in the company's fourth fiscal quarter, lower at the midpoint than analyst expectations of $8.02 billion in sales in the fourth quarter. The company also said it would take a $900 million hit in sales because of foreign currency effects.

Salesforce stock drop a knee-jerk reaction on leadership change, says Wedbush's Dan Ives

watch now

Salesforce's total revenue increased 14% year-over-year. Last quarter, Salesforce trimmed its year-end estimates for both revenue and earnings, citing a weaker economic cycle. It reaffirmed those estimates on Wednesday.

Salesforce said that its operating cash flow came in at $313 million for the quarter, which was a decrease of 23% year-over-year.

Subscription and support revenue, which includes the company's flagship Sales Cloud software and comprises the majority of the company's sales, came in at $7.23 billion, which was up 13% year-over-year.

The Platform and Other category that includes Slack reported $1.51 billion in sales, an 18% increase year-over-year.

Salesforce spent $1.7 billion on share repurchases during the quarter, the company said.

Wed, 30 Nov 2022 10:03:00 -0600 en text/html https://www.cnbc.com/2022/11/30/salesforce-crm-earnings-q3-2023.html
Killexams : Salesforce slumps as co-CEO Bret Taylor's departure called a 'shocker'
Salesforce New York City

wdstock/iStock Editorial via Getty Images

Salesforce (NYSE:CRM) shares took it on the chin Thursday, and fell more than 10% as investors showed displeasure with the cloud-based business software company's outlook, and the surprise resignation of co-Chief Executive Bret Taylor.

Taylor, who had been sharing Salesforce's (CRM) top job with company founder Marc Benioff since November 2021, will officially step down at the end of January 2023. Speaking on a conference call late Wednesday, Taylor said he would return to his "entrepreneurial roots", but didn't say anything more about his plans.

Wedbush analyst Dan Ives said Taylor was "one of the mainstays in the Salesforce (CRM) strategy," and that Wall Street would view his departure as "a shocker".

With Taylor leaving Salesforce (CRM), Ives said that it wouldn't be surprising to see Benioff "potentially getting more aggressive on M&A" in the cloud sector.

"This is all about the battle versus Microsoft for market share in the cloud and collaboration space," Ives said.

Ives left his outperform rating on Salesforce's (CRM) stock unchanged, but took down his price target from $215 a share to $200.

In addition to Taylor's departure, Salesforce (CRM) also deal with negative reaction to a mixed fiscal fourth-quarter forecast. The company said it expects to earn between $1.35 to $1.37 a share, excluding one-time items, on revenue in a range of $7.93B to $8.03B. Wall Street analysts had previously forecast Salesforce (CRM) to earn $1.34 a share, on $8.03B in sales.

Stifel analyst Parker Lane called Salesforce's (CRM) fiscal fourth quarter "critical", and that the company's outlook, and larger economic dynamics "make it more challenging to provide an accurate picture" around its full fiscal year. Lane maintained his buy rating on Salesforce (CRM), but trimmed his price target to $175 a share from $185.

Along with Taylor's resignation, and Salesforce's (CRM) outlook, the company also reported third-quarter results that topped analysts' estimates.

Cestrian Capital Research said that despite Salesforce's (CRM) mixed outlook, comments from Benioff suggest he sees easier times ahead for the company.

Thu, 01 Dec 2022 01:32:00 -0600 en text/html https://seekingalpha.com/news/3913045-salesforce-slumps-as-co-ceo-bret-taylors-departure-called-a-shocker
Killexams : Bret Taylor steps down as co-chair and CEO of Salesforce

It’s been quite a roller coaster ride for Bret Taylor over the last year. In one week last December, he was named board chair at Twitter and co-CEO at Salesforce. One year later, he doesn’t have either job.

Taylor lost the job as Twitter board chair when Elon Musk took over last month and dissolved the Twitter board immediately. Today, he stepped down as co-CEO at Salesforce in a stunning announcement that appeared to come out of the blue.

“After a lot of reflection, I’ve decided to return to my entrepreneurial roots. Salesforce has never been more relevant to customers, and with its best-in-class management team and the company executing on all cylinders, now is the right time for me to step away,” Taylor said in a statement announcing his resignation.

Taylor, who helped guide the $27 billion Slack acquisition in 2020, appeared to be in line to take over whenever company founder and CEO Marc Benioff decided to step down. Now he has stepped away, and it’s not clear what has changed.

Benioff called his co-CEO’s resignation “a bittersweet moment” in a statement, and said he would always be his biggest champion. He repeated Taylor’s words about him returning to his entrepreneurial roots. Perhaps Taylor really had enough of running a big company, but it does seem strange timing, right after he appeared onstage with Benioff at Dreamforce in September.

He joined the company in 2016 when Salesforce acquired his previous company Quip for $750 million. He quickly rose through the ranks and was most recently president and chief operating officer prior to the promotion last year. Prior to launching Quip and joining Salesforce, he was CEO at FriendFeed, an early social network, and later served as CTO at Facebook from 2009-2012.

While Taylor alluded to the fact the company was in good shape, the company stock price is down 34% over the last year (a year to be fair in which SaaS stocks in general have taken a huge hit). The company is also dealing with activist investor Starboard Value, which bought an undisclosed stake in the company last month. It’s unclear if this had anything to do with the resignation or if there had been friction between the two over roles or timing of the switch.

Holger Mueller, an analyst at Constellation Research, wondered if the time taking over as sole CEO was simply too long for Taylor to wait, and perhaps he lined up another job elsewhere. “It’s likely that Taylor has a sole CEO position planned for 2023. It raises questions on Benioff’s [succession] plans. Apparently the co-CEO model has a too long a horizon for the junior partner,” Mueller told TechCrunch.

It’s worth noting that this is not the first time that Salesforce has had a co-CEO, and the junior partner has chosen to leave the company. In 2018, Benioff named Keith Block co-CEO and he remained in the position until he stepped down in 2020.

Mueller said that with the co-CEO role, however it ensures that when one partner leaves, the company is able to continue without missing a beat. “But it shows once again the power of the two CEO model, as Salesforce is unlikely to miss a beat similar to when Keith Block stepped down [in 2020].”

Salesforce stock is down almost 7% after hours on the news.

Tue, 29 Nov 2022 10:00:00 -0600 en-US text/html https://techcrunch.com/2022/11/30/bret-taylor-steps-down-as-co-chair-and-ceo-of-salesforce/
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