- Joseph K
Let Salesforce Billionaire Benioff Land His Trendy Tech Whale
Stop me if you’ve heard this one before. News leaks that enterprise software giant Salesforce.com Inc. is interested in acquiring a trendy tech company. Then its stock falls 5%, erasing billions of market value. Ring any bells? Back in 2016, it was Chief Executive Officer Marc Benioff’s circling of Twitter Inc. that prompted investors to flee. This time around, there’s angst about Salesforce’s reported interest in Slack Technologies Inc. After the Wall Street Journal broke news of discussions between the two companies on Wednesday, the stock decline wiped $13 billion from Salesforce’s market value.