salesforce.com knows the power of good customer relations. The company offers hosted applications that manage customer information for sales, marketing, and customer support, providing clients with a rapidly deployable alternative to buying and maintaining enterprise software. salesforce.com's applications are used by more than 100,000 clients for generating sales leads, maintaining customer information, and tracking customer interactions. The company's applications can be accessed from PCs and mobile devices. salesforce.com's customers come from a variety of industries, including financial services, telecommunications, manufacturing, and entertainment.
salesforce.com continues to bolster its enterprise offerings as part of a push to expand past its core market of small and midsized businesses. The company also encourages third parties (including customers and independent software vendors) to develop applications that run on salesforce.com's technology platform but are sold separately as modules or add-ons in its AppExchange marketplace.
salesforce.com is embracing and developing products for new technologies such as cloud computing, and it was a pioneer in establishing that the Software-as-a-Service (SaaS) business model could be both profitable and scalable. It also offers clients access to application development code on its Force.com platform, which independent software vendors, IT departments, and software developers use to build custom business applications. The company's revenues and net income have grown substantially each year since fiscal 2007. Revenues rose 27% in 2010 compared with 2009.
In 2011 the company acquired San Francisco-based Heroku for about $212 million in cash. Heroku operated a cloud application platform for Ruby, a programming language for building and deploying Web applications. Also that year the company acquired business contact data provider Jigsaw for about $142 million. The deal expanded salesforce.com's cloud computing offerings and extended its reach into the business-to-business data service market, where Jigsaw has existing partnerships with providers such as D&B and LexisNexis.
The company is also expanding its social networking and collaboration capabilities through the launch of its Chatter product, which enables sharing updates and data within organizations on people, projects, groups, and documents. In 2011 it bolstered its Chatter product with the acquisition of Dimdim, which has created a real-time communication platform that is used to participate in online meetings, demos, and webinars with a Web browser. salesforce.com plans to combine Dimdim's cloud-based communication capabilities with its Chatter collaboration product in order to provide an integrated social networking product, similar to Facebook, for the enterprise market. Also that year the company paid $267 million in cash and $50 million in stock to buy Radian6, a developer of software used by corporate clients to manage and monitor social networking efforts for customer service and sales purposes.
salesforce.com is now acquiring Model Metrics, which provides consulting services for mobile and cloud computing. The acquisition of Model Metrics will provide salesforce.com with a workforce experienced in mobile and social design conception, business process alignment, and other mobile and cloud services.
In another deal, salesforce.com is acquiring Rypple, which provides a cloud-based social performance management application, and will relaunch it as Successforce. The acquisition is expected to close during the quarter that ends on April 30, 2012.
Previous acquisitions include the 2008 purchase of InStranet, a provider of call center software; salesforce.com integrated InStranet's software into its SaaS platform. The deal was part of a broader strategic move by salesforce.com to extend its product set past core CRM applications to encompass areas such as call center management, partner relationship management, and more.