Salesforce Takes On Dropbox With Cloud Storage And File Sharing Services
Salesforce.com’s (NYSE:CRM) CEO, Marc Benioff announced at the TechCrunch Disrupt conference in San Francisco that the company is planning to roll out an online storage and file sharing service competing with the likes of Dropbox. It also plans to release an identity management system to rival companies like Okta. The file sharing and storage service will be called Chatterbox, named after the collaboration tool Chatter and will target enterprise customers. These services are a part of Salesforce.com’s expanding cloud service portfolio. The identity management service is Salesforce.com Identity, which will provide a single sign-on for multiple cloud applications. [1]
See our full analysis for Salesforce.com
Dreamforce Set To Reveal More Details
About 70,000 people have registered to attend Dreamforce, where attendees can get into the event’s keynotes at no charge. The company is expected to showcase its new marketing cloud and Work.com, the cloud based human resource software.
Work.com Key Product Launch
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Salesforce.com’s cloud based HR software gained momentum with the purchase of a start-up called Rypple, which focused on performance management and feedback. It allows managers and co-workers to exchange feedback and recognition, using a social networking site type interface. Review is done on an ongoing basis and differs from the regular annual or quarterly appraisals and reviews. Salesforce.com will reveal its strategy for HR software at Dreamforce. [2]
As HR applications reaches all employees within a company, it is potentially a bigger market than the CRM software which is used mainly by the sales team. Cloud based customer software is the biggest division of Salesforce.com and constitutes nearly 55% of our current price estimate.
We currently have a $132 Trefis Price Estimate for Salesforce.com, which is 10 percent lower than the current market price.
Understand How a Company’s Products Impact its Stock Price at Trefis
Notes:- Salesforce Will Launch Dropbox Competitor, www.pcworld.com, Sept 12, 2012 [↩]
- Salesforce.com To Reveal Work.com at Dreamforce, www.pcworld.com, Aug 10, 2012 [↩]