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Salesforce CEO on 2020 Q1 results: we’ve seen tremendous momentum over the last year with MuleSoft

Posted on: June 6, 2019

June 4, 2019, Salesforce reported the quarterly results* of the company’s 2020 fiscal year being a lot better than expected.

“For the fiscal year 2020, we’re guiding to $16.25 billion at the high end of the range, representing 22% projected growth year-over-year, and that’s up $200 million from 90 days ago when we had our Q4 earnings call. No enterprise software company of our size and scale is growing at this rate,” says CEO Mark Benioff.

During Salesforce earnings call with investors, the company’s leaders introduced rather impressive financial results and gave an overview of the company’s main achievements and the best performing products, such as:

  • Adapting AI concepts to everyone: Salesforce has recently announced new Einstein Platform Services that enables everybody, regardless of their technical skill, to build custom AI-powered apps with just a few clicks.
  • Improvements in the workforce: A new product for learning and enablement, called “myTrailhead” became generally available and now customers can create their own branded service and reskill their employees, customers and partners.
  • Setting new goals: Salesforce predicts to organically double the revenue in the next four years, achieving a revenue target of $26 billion to $28 billion for the fiscal year 2023.
  • For the first time ever, sales cloud – Service Cloud – exceeded $1 billion in revenue for the quarter, becoming a second cloud after the Marketing Cloud.

Amongst these and many other products and services in Salesforce basket, one of the brightest spotlights was directed towards MuleSoft, its financial and technical contribution and overall integration into the Salesforce vision.

Salesforce office in NYCSalesforce Co-CEO Keith Block reports that MuleSoft had an outstanding Q1: “It’s been a year since we acquired MuleSoft and we’re absolutely thrilled with the combined success”. MuleSoft’s acquisition has cost Salesforce $6.5 billion and, according to the report, it’s now contributing $170 million towards company’s total revenue.

Chief Product Officer Bred Taylor shared that while talking to CEOs whose companies are undergoing digital transformation he discovered that “their barrier is the legacy systems that identified as legacy systems and MuleSoft has been such an accelerator for that vision technologically which is why if you walk throughout the floor in TrailheaDX last week, MuleSoft was on everyone’s mind”.

This April, MuleSoft was also named the leader in the Gartner Magic Quadrant for Enterprise Integration Platform as a Service (iPaaS) and for Full Life Cycle API Management, becoming the only company being recognised in both quadrants.

Salesforce has recently launched a MuleSoft Anypoint API Community Manager platform to educate developers and help companies successfully adopt APIs, it encourages companies to expose API’s and create ecosystems around them. “APIs are becoming the Lego of freight how companies communicate with each other and you can see growing the convergence,” CPO Bred Taylor said.

One can see what a huge value the integration platform brings to the company that owns so many SaaS products in the first place. Now that MuleSoft is in the family, Salesforce has arguably reached their vision of Customer 360, with the concept of API-led connectivity wrapping-up all of their offerings into one integral ecosystem. “Customer 360 will continue to be a major growth engine for Salesforce going forward,” CEO Mark Benioff confirms.

When asked about company’s main focus and opportunities, Mark Benioff said that from what he had seen, most of the companies still are in very early days of their digital transformation, and that remains just a huge growth opportunity for the entire industry. Nevertheless, Benioff argued, that CEOs had started to recognise the value of connectivity.


Salesforce CEO Mark Benioff

”Who would’ve thought that a CEO would be thinking about integration and the importance of data being strategic to their transformation. And that is the value and the beauty of what MuleSoft brings to the table.”

MARK BENIOFF, CEO, Salesforce


If you would like to learn more about MuleSoft’s Anypoint Platform, API-led connectivity approach and synergies with Salesforce.com, we invite you to review our 1-hour long on-demand session “The MuleSoft Platform & API-led Connectivity Primer for Salesforce Users and Partners”, led by Ricston CTO Kevin Jervis.

Ricston webinar about Salesforce and Mulesoft synergies


*Source: seekingalpha.com
Find the full earnings call audio and transcript here.

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