DJ Newswires
Salesforce Launches $100 Million Venture Capital Fund
DOW JONES & COMPANY, INC. 8:32 AM ET 9/8/2014
Symbol Last Price Change|
| CRM | 60.36 | 0.55 (0.92%) | | QUOTES AS OF 04:01:16 PM ET 09/08/2014 |
Salesforce.com Inc. (CRM) has launched a $100 million venture-capital fund dedicated to investing in mobile app companies as the business-software company seeks to capitalize on what it calls the "Internet of customers."
The fund, Salesforce1Fund, has already invested in DocuSign, a mobile transaction platform, and i.am+, a fashion and technology brand, among others, the company said. The fund is the first from Salesforce Ventures, the company's global corporate-investment group.
Salesforce, which used to focus solely on helping businesses automate their sales processes, has pushed to diversify in recent years with an eye to social media and marketing. In August, the company reported a fiscal second- quarter loss of $61.1 million, or 10 cents a share, amid a string of acquisitions.
Salesforce.com (CRM) has invested in more than 100 cloud startups since 2009. |
