The first trend, combined with an intense rivalry within the industry that further pushes companies to improve the quality of their products, has proven to be very lucrative to the leading cloud providers, especially in America, because it increases their sales volumes almost directly. Shift away from company-owned data centers to the cloud.Main trends in the industry are represented by: The cloud industry is growing at a very strong pace in recent years, experiencing double-digit growth, with the total revenues reaching $261.9b in 2019, and a compound annual growth rate (CAGR) of 29% between 20. being the 4 US-based companies among the top 5 players globally. The US companies dominate this highly competitive sector, with AWS Inc, Microsoft Corp., Google LLC, and IBM Corp. The global cloud computing industry is highly concentrated in the United States of America, where both companies are headquartered, accounting for 35.3% of the global industry (as of 2019 values). Salesforce and Slack operate in all of the three different segments of this industry through different products and services offered. The cloud computing industry is globally divided into Infrastructure as a Service (IaaS), Platform as a Service (PaaS) and Software as a Service (SaaS) segments. In 2020, the company experienced strong revenue growth of more than 57%, expanding revenues to $630 million. It now counts more than 10 million active users around the world, including IT giant IBM and its 350,000 employees. Following 12 successful rounds of funding, Slack went public in 2019. They subsequently decided to launch this product and renamed the company Slack Technologies in 2014. During the game’s development, the team used an internal communication software named Slack (Searchable Log of All Conversation and Knowledge). Following Glitch’s failure, the project was terminated in 2012. Slack, initially named Tiny Speck, launched “Glitch”, a computer game back in September 2011. The company has been growing rapidly as can be seen by its 28.7% revenue growth in 2020, raking in more than $17 billion.įounded in 2009, Slack is an American software company headquartered in San Francisco, California. Salesforce is present in the Americas, Europe and Asia-Pacific. It sells the services to a variety of industry leaders such as Spotify, Walmart as well as Berkshire Hathaway. Salesforces offers a Customer Relationship Management (CRM) solution that provides insight into customer habits based on data accumulation.
In December 2020, Salesforce announced it would be acquiring the workplace chat app Slack for $27.7 billion.įounded in 1999, Salesforce is an American cloud-based solutions provider headquartered in San Francisco, California.
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