Bloomberg Technology Examines Salesforce’s $27.7 Billion Slack Acquisition Announcement in interview with Groove CEO Chris Rothstein
News of Salesforce’s record $5.42 billion Q3 Fiscal 2021 earnings on Tuesday was completely eclipsed by the announcement of its definitive agreement to acquire Slack for $27.7B. Not only was this Salesforce’s largest acquisition to date, the size of the deal also surprised many investors, which caused Salesforce’s shares to dip slightly in after-hours trading.
So why did Salesforce pay such a high premium to acquire Slack? What kind of competition will they face from Microsoft Teams, and why did Marc Benioff say “Slack changes everything and makes Salesforce a whole new type of company” when asked about the deal by Mad Money’s Jim Cramer?
Bloomberg Technology anchor Emily Chang addresses all of these questions and more in her interview with Chris Rothstein, co-founder and CEO of Groove, the leading sales engagement platform for enterprises using Salesforce.