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☆ Shopify has poached at least two dozen employees from Salesforce as it pushes into enterprise e-commerce
▼ + stars: | 2024-04-04 | by ( Madeline Stone | ) www.businessinsider.com time to read: +9 min

Holly Dresden joined Shopify as head of enterprise merchant success in December after six years with Salesforce Commerce Cloud. Evan AgostiniAs it moves further into enterprise, Shopify hasn't always been subtle about zeroing in on Salesforce as a competitor. It recently launched a webpage comparing its platform with Salesforce Commerce Cloud, encouraging merchants to "join the mass migration" of brands moving from Salesforce to Shopify. But winning over enterprise retailers requires a different approach, and it's one where Salesforce has more years of experience than Shopify. Talking the enterprise talkPoaching employees from Salesforce isn't the only way Shopify has made an effort to win over enterprise customers.

Persons: —, Shopify, Kal Stephen, Holly Dresden, Everlane, Marc Benioff, Evan Agostini, hasn't, Michael Affronti, we've, Affronti, Shopify's, Salesforce, We've, It's, Rick Watson, Watson, Demandware, Oppenheimer, Ken Wong, Wong, Harley Finkelstein Organizations: Service, Salesforce Commerce, Business, Salesforce, Adobe, SAP, Mattel, Commerce, RMW Commerce Consulting, Accenture, IDC, Manhattan Associates Locations: Salesforce, Demandware

Spending online on Cyber Monday is set to reach as much as $12.4 billion, according to Adobe Digital Insights, which tracks data through Adobe's Experience Cloud service for e-commerce platforms. Last-minute shoppers on Monday could spend $4 billion between 6 p.m. and 11 p.m. EST alone, it said. Other firms use different measurements to gauge purchases on Cyber Monday, the biggest online shopping day of the year in the United States. Salesforce, which tracks data flowing through its Commerce Cloud e-commerce service, said online sales on Cyber Monday were up by 4% by 4 p.m. EST, hitting $7 billion by late afternoon. Walmart, eager to capture market share, slashed prices on Sunday night, joining the trend of retailers' early discounts on major shopping days.

Persons: Salesforce, Eduardo Munoz, Brian Yacktman, Charles Sizemore, Sizemore, Siddharth Cavale, Deborah Sophia, Aishwarya Venogupal, Ananya Mariam Rajesh, David Gregorio, Nick Zieminski, Matthew Lewis Organizations: Adobe Digital, Adobe, Commerce, Shoppers, Workers, REUTERS, YCG Investments, Nike, Black, Sizemore Capital Management, Walmart, Amazon, Graphics, Insider Intelligence, Thomson Locations: United States, Robbinsville Township, New Jersey, U.S, New York, Bengaluru

☆ Deal-hunters fuel $12 billion Cyber Monday shopping spree
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Eduardo Munoz Acquire Licensing RightsNov 27 (Reuters) - After a busy holiday shopping weekend, discount seekers are expected to spend between a record $12 billion and $12.4 billion on beauty products, electronics, toys and apparel on Cyber Monday, according to Adobe Analytics. Heavy online traffic and transactions could add up to a boost in sales by U.S. shoppers of 5.4% or more, according to Adobe. Shoppers spent $10.3 billion in the weekend leading up to Cyber Monday, up 7.7% from last year as retailers offered more discounts compared to last year. More merchandise was being discounted in the weekend leading up to Cyber Monday, according to a report from LSEG. Walmart (WMT.N) , eager to capture market share, slashed prices on Sunday night, joining the trend of retailers' early discounts on major shopping days.

Persons: Eduardo Munoz, Vivek Pandya, Pandya, TJ Maxx, Jharonne Martis, LSEG, Rob Garf, Garf, Vanessa O'Connell, Deborah Sophia, Arriana, David Gregorio, Nick Zieminski Organizations: Workers, REUTERS, Adobe Analytics, U.S, Adobe, Shoppers, Adobe Digital, Walmart, Reuters, Costco, Commerce, Insider Intelligence, Thomson Locations: Robbinsville Township, New Jersey, U.S, Salesforce, Ross

☆ Price-sensitive US shoppers nab early 'Cyber Monday' deals
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +3 min

[1/3] Workers select and pack items during Cyber Monday at the Amazon fulfilment center in Robbinsville Township in New Jersey, U.S., November 28, 2022. Heavy online traffic and transactions could add up to a record $12 billion outlay by U.S. shoppers on Cyber Monday, according to Adobe Analytics. "You have consumers out there who are very price-sensitive and conscientious, and who want to make sure they get the very best possible deal." Walmart (WMT.N) , eager to capture market share, slashed prices on Sunday night, joining the trend of retailers' early discounts on major shopping days. Last-minute shoppers on Monday could spend $4 billion between 6 p.m. and 11 p.m.

Persons: Eduardo Munoz, Vivek Pandya, Pandya, Rob Garf, Garf, Vanessa O'Connell, David Gregorio Our Organizations: Workers, REUTERS, Adobe Analytics, Adobe Digital, Walmart, Adobe, Commerce, Thomson Locations: Robbinsville Township, New Jersey, U.S, Salesforce

☆ Shoppers click 'buy' as retailers slash prices ahead of Cyber Monday
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 26 (Reuters) - Holiday shoppers in the U.S. are seeking out the best deals and strategically nabbing the deepest discounts ahead of Cyber Monday, according to data from retailer websites aggregated by third parties. Cyber Monday, as the first Monday after the Thanksgiving holiday has become known as merchants step up online promotions, is set to be the biggest online shopping day of the year in the United States. Despite an earlier start to retailers' holiday promotions this year, there weren't a lot of great deals initially, Garf said. And "consumers clicked the buy button," spending $16.4 billion online in the U.S. and $70.9 billion globally that day, according to Salesforce. Other firms use different measurements to gauge online shopping patterns.

Persons: Brendan McDermid, Rob Garf, Garf, Salesforce, Vivek Pandya, Pandya, Steve Sadove, It’s, Vanessa O'Connell, Leslie Adler Organizations: Westfield Shops, REUTERS, Commerce, U.S . Retailers, Adobe Digital, Adobe, Mastercard, Saks Inc, Thomson Locations: New York City, U.S, United States, Salesforce

☆ TikTok's new app store signals its goal to be an e-commerce platform that relies less on established players like Shopify
▼ + stars: | 2023-09-13 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

TikTok Shop, the social media app's e-commerce platform, officially came out of beta in the US on Tuesday. TikTok Shop is meant to be an end-to-end shopping destination, with in-feed and live video shopping, a dedicated shop tab in the TikTok app, an affiliate marketing program, and in-app checkout. TikTok's app store filters apps according to a seller's current e-commerce platform, including Shopify, WooCommerce, BigCommerce, Magento, Salesforce Commerce Cloud, and Amazon. Being on TikTok's app store also helps third-party software providers get discovered by sellers who might want to use their products. "We love an app store because the app store is saying: this is a trustworthy provider," Hallock said.

Persons: TikTok, Rick Watson, Watson, Anne Hallock, Hallock Organizations: Shop, RMW Commerce Consulting, Partners, TikTok Locations: Salesforce

☆ Klaviyo files to go public in latest sign of life for IPO market
▼ + stars: | 2023-08-25 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Data and marketing automation company Klaviyo on Friday became the latest tech company to try to join the public markets. Klaviyo follows grocery-delivery service Instacart's long-awaited IPO filing, also submitted on Friday. Founded in 2012, Klaviyo helps companies store user data and build profiles on them to send targeted marketing via email, text messages and other channels. Klaviyo also has a partnership with Shopify where it is the "recommended email solution" for members of its Shopify Plus program. Klaviyo said it had more than 130,000 customers as of June 30, compared to 105,000 customers a year ago.

Persons: Klaviyo, Japan's SoftBank, Adobe's Magento Organizations: New York Stock Exchange, Securities and Exchange Commission, Klaviyo's, Shopify

☆ Microsoft is touting the size and growth rate of its Salesforce rival Dynamics
▼ + stars: | 2023-08-03 | by ( Jordan Novet | ) www.cnbc.com time to read: +5 min

Microsoft still isn't disclosing the size of its Azure business, providing only the growth rate for the cloud business and leaving investors guessing how its revenue compares to Amazon and Google . But in its much smaller Dynamics business, which includes software for salespeople, marketers and customer-service agents, Microsoft has suddenly opted for greater transparency. In its annual report to investors last week, Microsoft disclosed Dynamics revenue in a table alongside other products for the first time. He also noted that Microsoft Sales Copilot, a tool capable of writing business-oriented email drafts, integrates with Dynamics as well as Salesforce's software. Partly motivated by Microsoft's AI capabilities, some companies are switching to Dynamics from Salesforce, said Manny Medina, CEO of sales software startup Outreach.

Persons: Satya Nadella, Flipkart, Nadella, Manny Medina, Medina, Salesforce, Bret Taylor, Marc Benioff, they're, Doug Burgum, Adam Mansfield, Mansfield Organizations: Microsoft Corp, Microsoft, Google, Dynamics, Products, Cloud Services, Technology, IDC, Oracle, SAP, CNBC, Industry, Marketing, Commerce Cloud, Plains Software, North, Republican Locations: Mumbai, India, MSFT, Marketing Cloud, Commerce, North Dakota, Great Plains

☆ Salesforce is developing a ton of new AI products that could lead to 'a massive new buying cycle' Goldman Sachs and Morgan Stanley analysts believe
▼ + stars: | 2023-06-09 | by ( Julie Bort | ) www.businessinsider.com time to read: +4 min

Salesforce could be leading it, with a giant list of new AI products in the works. And he told tale after tale of planned AI products. Morgan Stanley's Keith Weiss believes Salesforce's claims that AI has the potential to "spark a massive new buying cycle." Rangan tallied up 15 pending AI products from Salesforce. There will be five new AI products incorporated into the Marketing cloud to automate tasks ranging from personalized emails to analyzing engagement.

Persons: Salesforce, Marc Benioff, Claude, Goldman Sachs, Kash Rangan, Salesforce's, Einstein, Rangan, Morgan Stanley's Keith Weiss, Weiss Organizations: OpenAI, Salesforce Ventures, Google, Salesforce's, Slack, Products, Next

☆ Op-ed: Salesforce appoints ValueAct’s Morfit to its board and a proxy fight may loom ahead
▼ + stars: | 2023-01-27 | by ( Kenneth Squire | ) www.cnbc.com time to read: +5 min

The firm's principals are generally on the boards of half of ValueAct's core portfolio positions and have had 55 public company board seats over 22 years. Adding Morfit to the board of Salesforce makes a ton of sense regardless of the activist environment. Morfit has experience helping management increase both growth and margins from a board level, and both can be improved at Salesforce. The looming question is whether he will initially be doing this with an activist cloud hanging over the company's head in the form of a proxy fight by one of the other activists involved. It likely had been engaging with Salesforce management for several months, and this appointment may have happened just as a threatened proxy fight was reported.

☆ Walmart provides its GoLocal services to Salesforce clients
▼ + stars: | 2023-01-12 | by ( Siddharth Cavale | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/IllustrationNEW YORK, Jan 12 (Reuters) - Walmart Inc (WMT.N) on Thursday said it has entered into a partnership with software giant Salesforce (CRM.N) to provide its retail customers with store pickup and delivery services using Walmart's vast transportation network. Retailers have been adding such delivery services for customers since the pandemic drove many people to shop online. Since its launch GoLocal has completed more than 3 million deliveries so far, Harsit Patel, vice president at Walmart GoLocal said on a media call. More clients mean higher order volumes, pickup locations and increased route density that lowers costs per order. The services will be offered through Salesforce's AppExchange, its app store for businesses, starting this spring.

☆ Walmart partners with Salesforce to offer GoLocal services to its retail clients
▼ + stars: | 2023-01-12 | by ( Siddharth Cavale | ) www.reuters.com time to read: +2 min

[1/2] Shopping trolley is seen in front of Walmart logo in this illustration, July 24, 2022. REUTERS/Dado Ruvic/IllustrationNEW YORK, Jan 12 (Reuters) - Walmart Inc (WMT.N) on Thursday said it has entered into a partnership with software giant Salesforce (CRM.N) to provide its retail customers with store pickup and delivery services using Walmart's vast transportation network. Since its launch GoLocal has completed more than 3 million deliveries so far, Harsit Patel, vice president at Walmart GoLocal said on a media call. While adding more revenue streams, the onboarding of more retail clients helps the world's largest retailer operate its fleet more efficiently. More clients mean higher order volumes, pickup locations and increased route density that lowers costs per order.

☆ Meet incoming Slack CEO Lidiane Jones, who will take over when co-founder Stewart Butterfield departs in January
▼ + stars: | 2022-12-05 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +4 min

Lidiane Jones is taking over Stewart Butterfield's role as CEO of Slack. Slack CEO Stewart Butterfield is exiting the company in January, and Salesforce has confirmed that Lidiane Jones will be his successor. "Slack will have a new CEO: Lidiane Jones. This is good: Lidiane is amazing," Butterfield wrote in the post, which was viewed and published in full by Insider. A spokesperson for Salesforce wrote in a statement to Insider that Butterfield was "instrumental" in choosing Jones as his successor.

☆ Slack CEO Butterfield to depart next month
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

Dec 5 (Reuters) - Slack Chief Executive Officer Stewart Butterfield plans to leave the workplace messaging platform in January, parent company Salesforce Inc (CRM.N) said on Monday. Lidiane Jones, who is the senior vice-president of product management for Salesforce Commerce Cloud, will take over as CEO of Slack, a company spokesperson said. Salesforce had acquired Slack last year in a nearly $28 billion deal following a massive bet that Slack's workplace app will become popular for collaborations within and between companies. Last week, Salesforce stock tumbled after co-CEO Bret Taylor's sudden exit caught Wall Street off guard and raised concerns about the merit in having two leaders. read moreReporting by Eva Mathews in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Salesforce's new marketplace wants to make it easier for companies to integrate carbon credits into their climate-action strategies
▼ + stars: | 2022-12-01 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +5 min

Salesforce has a new marketplace for carbon credits, also known as carbon offsets. Companies can use their carbon credits on projects designed to help alleviate the climate crisis. Carbon credits as product stock-keeping units require a set of unique attributes that weren't available in the out-of-the-box product. Buyers on Net Zero Marketplace must commit to buy carbon credits as part of a comprehensive climate-action strategy — not as a substitute for absolute reductions. Providers of carbon credits don't always have the traditional sales and marketing tool kits needed to successfully bring credits to the market.

☆ Ordergroove just raised $100 million to help online retailers grow subscribers as repeat customers offer a lifeline amid an unstable economy
▼ + stars: | 2022-11-10 | by ( Madeline Stone | ) www.businessinsider.com time to read: +5 min

Ordergroove makes software that brands and retailers use to sell their products via subscriptions. Ordergroove helps brands build long-term rapport with customers through subscriptions and memberships. "When I started Ordergroove, there were three retailers at the time doing subscriptions: Amazon, QVC, and Petco," Alvo said. 'We just want our customers to be successful'The needs of Ordergroove's customers have changed in recent decades. Recharge similarly sells subscription management software and has raised $277 million in venture funding since it was founded in 2014.

☆ Two potential opportunities for value creation emerge as Starboard takes a stake in Salesforce
▼ + stars: | 2022-10-22 | by ( Kenneth Squire | ) www.cnbc.com time to read: +5 min

Starboard views Salesforce as a high quality and sticky business at an attractive valuation with the potential for significant value creation through a better balance of growth and profitability. Salesforce peers are operating at a "rule of 50" – average revenue growth plus adjusted operating margins of peers equals 49.4. Salesforce currently has a revenue growth rate of 17.0% and 20.4% operating margins, which brings it to 37.4 combined. Starboard has had extensive experience with growth companies that begin to see slowing growth rates and need to either regain that growth and/or focus on margins. Even if they were to hit that target, this would only bring them to a growth + margin of 42.

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