Under siege from fearsome activist investors Salesforce did not immediately respond to a request for comment. It paid more than twice that - $27.7 billion - in an acquisition that closed just 18 months ago. More importantly, selling Slack at that value would mean that Salesforce would lose billions on its original deal. (He bought Quip which challenges Microsoft Documents, and Slack which challenges Teams.) For one, this move will put a nail in the coffin of Benioff's long-held strategy of taking down his arch rival Microsoft with direct competition to its Microsoft Office empire. There are a couple of giant downsides to selling Slack though. If Salesforce spun off 80% of this business, and retained a 20% stake, it could pocket $9 billion cash, which Jaluria would like to see used for share buy backs to help boost the stock and per-share earnings. He gets there by valuing Slack, in its current post-pandemic state, at around $12 billion.
Spinning off Slack, however, could be like taking a giant weight off of Salesforce's shoulders, boosting the stock by as much as 27%, according to Jaluria's calculations. Tableau has also "been a disappointment," but its divestiture seems less likely than the others because Tableau's tech is now deeply baked into some of Salesforce's key products. RBC's Rishi Jaluria offered an insightful take in a Thursday research note where he proposed Salesforce could unwind some of its biggest, and most disappointing, acquisitions. "We recently proposed that Salesforce has been in 'empire building' mode for too long and should shift focus back to core market opportunities," Jaluria wrote.Īlthough Jaluria said he had no direct knowledge of Salesforce's plans, "we would not be surprised if a Slack, MuleSoft, or Heroku divestiture was on the table," he wrote. Such a move could help Salesforce focus on core priorities, but it would likely mean billions of dollars in losses, one of these analysts estimated this week. One possible outcome is that Benioff is forced to sell or spinoff Slack, according to analysts. Salesforce founder and CEO Marc Benioff has multiple activist investors with stakes in his company, circling him to demand changes.
What do they want? RBC analyst Rishi Jaluria sees possible spin-offs of units like Slack.Elliott Management and other activist hedge funds have taken big stakes in Salesforce.Account icon An icon in the shape of a person's head and shoulders.
0 kommentar(er)
