CRM -, inc.

NYSE - NYSE Delayed Price. Currency in USD
-0.80 (-0.54%)
At close: 4:02PM EDT
Stock chart is not supported by your current browser
Previous Close146.97
Bid146.02 x 800
Ask146.45 x 1200
Day's Range145.51 - 148.04
52 Week Range113.60 - 167.56
Avg. Volume6,086,670
Market Cap125.767B
Beta (3Y Monthly)N/A
PE Ratio (TTM)121.40
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
Trade prices are not sourced from all markets
  • (CRM) Stock Sinks As Market Gains: What You Should Know
    Zacks (CRM) Stock Sinks As Market Gains: What You Should Know

    In the latest trading session, (CRM) closed at $146.17, marking a -0.54% move from the previous day.


    Wall Street Declines Wednesday

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  • When To Buy Growth Stocks: Micron, Salesforce Formed This Pattern For Big Profits
    Investor's Business Daily

    When To Buy Growth Stocks: Micron, Salesforce Formed This Pattern For Big Profits

    When growth stocks break out, then pull back all the way to the correct buy point, should you bail? Is the stock a dud? Not always. A base on base may form.

  • Tech Stocks for Dividend Investors to Buy as Q3 Earnings Season Heats Up

    Tech Stocks for Dividend Investors to Buy as Q3 Earnings Season Heats Up

    We used our Zacks Stock Screener to search for companies within the broader technology sector that also pay a dividend that investors might want to buy as Q3 earnings season heats up...

  • CrowdStrike CEO: There's a 'real awakening' about the threat of 2020 election hacking
    Yahoo Finance

    CrowdStrike CEO: There's a 'real awakening' about the threat of 2020 election hacking

    CrowdStrike co-founder and CEO George Kurtz weighs in on cybe threats pertaining to the 2020 presidential election.

  • CrowdStrike CEO gives perfect answer on post IPO stock price tumble
    Yahoo Finance

    CrowdStrike CEO gives perfect answer on post IPO stock price tumble

    Crowdstrike remains a business on fire, even if some on Wall Street are voicing views to the contrary.

  • Is Salesforce Stock A Buy? Investors Mull Digital Transformation Amid Acquisitions
    Investor's Business Daily

    Is Salesforce Stock A Buy? Investors Mull Digital Transformation Amid Acquisitions

    CRM stock has lagged software group peers as investors digest a number of big industry acquisitions, such as Tableau. Could digital transformation growth drive a Salesforce stock rally?

  • Is (NYSE:CRM) A Risky Investment?
    Simply Wall St.

    Is (NYSE:CRM) A Risky Investment?

    Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...

  • 5 Futuristic Artificial Intelligence Stocks to Buy

    5 Futuristic Artificial Intelligence Stocks to Buy

    [Editor's note: "5 Futuristic Artificial Intelligence Stocks to Buy" was previously published in September 2019. It has since been updated to include the most relevant information available.]Before we know it, AI will be part of our everyday lives. Market experts say artificial intelligence will lead the next wave of economic growth and productivity for at least the next couple of decades. But many AI stocks have earned a cautious outlook from the Street.We all know the up and downsides of stocks like Nvidia (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD) and Tesla Inc (NASDAQ:TSLA), but their challenges are separate from some other heavily AI-influenced stocks.InvestorPlace - Stock Market News, Stock Advice & Trading TipsTo find the best investing opportunities in AI right now, we looked for five stocks with a "strong buy" or "moderate buy" consensus rating from the Street's top analysts. These are analysts with the highest success rate and average return. By limiting the ratings to best-performing analysts, we cut out analysts with poor track records to find recommendations investors can trust. * 7 Beverage Stocks to Buy Now Stocks with "strong buy" ratings are also more likely to have significant upside potential from the current share price. Salesforce (CRM)Source: Bjorn Bakstad / When cloud computing giant (NYSE:CRM) launched its Einstein Analytics platform back in 2017, everyone was buzzing. "We have more customer data than ever before and we need AI to turn data into something actionable for the business user," says CRM exec Arijit Sengupta.Salesforce wants a slice of the fast-growing AI market. A report by IDC and commissioned by CRM found that AI technologies will create more than 800,000 new jobs and add $1.1 trillion to global GDP by 2021.CRM also has a very strong outlook from the Street. Microsoft (MSFT)Source: Shutterstock Microsoft (NASDAQ:MSFT) acquired Canadian AI company Maluuba as its primary entrance into the AI fray. Maluuba teaches machines to think and ask questions through deep learning. You may have heard of Maluuba when it made the impossible possible and used AI to beat the notoriously difficult Ms. Pac-Man arcade video game.Microsoft CEO Satya Nadella says he wants to "democratize AI" and bring the technology to more industries such as healthcare, education and manufacturing. * 10 Super Boring Stocks to Buy With Super Safe Returns After taking a bit of a beating at the end of 2018, Microsoft has surpassed its previous highs. Alphabet (GOOGL)Source: Valeriya Zankovych / Alphabet Inc (NASDAQ:GOOGL) has made the most AI purchases out of any tech firm, calculated research firm Quid, which shows that GOOG has made 20 AI acquisitions, including predictive analytics platform Kaggle in Q1 2017 alone.Google CEO Sundar Pichai long has spoken about Google's "AI first" future. At Google's developer conference, he showed the Google Lens (a camera that can recognize what it sees) and AutoML. AutoML uses neural networks to build better neural networks, essentially creating an AI that can create itself.Google is rife with "buy" ratings and very few sell or hold ratings, and it has meaningful upside. Baidu (BIDU)Source: StreetVJ / Chinese internet company Baidu Inc (ADR) (NASDAQ:BIDU), the "Google of China," has been investing heavily in AI. It thinks artificial intelligence can give it an edge over local rivals Tencent Holdings Ltd. (OTCMKTS:TCEHY) and Alibaba Group Holdings Ltd (NYSE:BABA).Baidu spent $2.9 billion on R&D in just 2.5 years, with most of this going to AI. The money has funded a 1,700-member research team and four separate research labs. Crucially, Baidu has an AI advantage because of the huge data it gains from its 665 million monthly search engine users. * 10 Best Cloud Growth Stocks Right Now BIDU is a moderate buy with the trade war dragging on, but it still has impressive upside potential. Delphi Automotive (DLPH)Source: Shutterstock U.K.-based auto tech company Delphi Automotive (NYSE:DLPH) is on the rise after a tumultuous few months.Delphi dropped its powertrain business to focus on self-driving cars and electric vehicles last year, which appears to finally be paying off. In partnership with BMW, Intel Corporation (NASDAQ:INTC) and Mobileye NV, Delphi plans to launch self-driving cars by 2021.Which stocks have a strong buy rating in the sector that interests you?TipRanks tracks and ranks over 4,500 analysts from eight different market sectors. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Deeply Discounted Energy Stocks to Buy * 7 Stocks to Buy In a Flat Market * 10 Stocks to Buy to Ride China's Emerging Wealth The post 5 Futuristic Artificial Intelligence Stocks to Buy appeared first on InvestorPlace.

  • ServiceNow Stock: Digital Transformation Projects Seen As A Plus
    Investor's Business Daily

    ServiceNow Stock: Digital Transformation Projects Seen As A Plus

    ServiceNow's ties to digital transformation projects stands out heading into the third quarter earnings period as investors brace for more volatility in software stocks, says one analyst.

  • Valuation Friction Has Kept Salesforce Stock Stuck In Neutral

    Valuation Friction Has Kept Salesforce Stock Stuck In Neutral

    Cloud software giant Salesforce (NYSE:CRM) is often viewed as one of the biggest and best growth stocks on Wall Street, defined by a consistent track record of 20%-plus revenue growth, steady margin expansion and 25%-plus profit growth.Source: Bjorn Bakstad / But, here's a bit of sobering news for CRM bulls -- Salesforce stock hasn't gone anywhere over the past year. A year ago, CRM was a $145 stock. Today, Salesforce stock trades hands at $145, for a net gain of 0% over the past 52 weeks.Perhaps even more surprising, over the past year, Salesforce has reported four straight double-beat earnings reports -- three of which were double-beat-and-raise earnings reports, and all of which comprised 20%-plus revenue growth.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWhat's happening here? Why has CRM stock gone nowhere over the past 52 weeks despite the company remaining on fire?Valuation.In plain English, the valuation sprinted ahead of the fundamentals in 2018, and the fundamentals have been trying to play catch-up ever since. The good news? The fundamentals have almost caught up. The bad news? They haven't caught up just yet, so Salesforce stock may be stuck in neutral for a little while longer until the fundamentals do fully catch up. * 7 'A'-Rated Stocks to Buy for the Rest of 2019 The investment implication, then, is simple. Have CRM stock on your buy radar. But don't pull the trigger yet. Salesforce Is a Great CompanyIn the big picture, Salesforce is a great company.The story at Salesforce is essentially all about two things. First, there's the fourth industrial revolution, which in short, is a digital transformation playing out everywhere wherein everyone and everything is becoming connected. As Salesforce itself puts it, "[t]hink GPS systems that suggest the fastest route to a destination, voice-activated virtual assistants such as Apple's Siri, personalized Netflix recommendations, and Facebook's ability to recognize your face and tag you in a friend's photo." All of these are examples of how today's world is increasingly being defined by everyone and everything being connected, all the time.Second, there's the secular maxim that the "customer is king." That is, regardless of the digital, technological or economic backdrop, the customer is always king. Businesses have to constantly optimize the customer experience. In today's connected world, the customer experience is bigger, more important, and broader than ever before, because consumers are increasingly interacting with products and services in all walks of life. As such, because of the fourth industrial revolution, businesses need more complete, robust customer experience management tools.Salesforce provides those tools through its various cloud-hosted offerings, including Customer 360. More than that, Salesforce offers the best CRM tools in the market. As such, as businesses everywhere have poured more money into next-gen CRM tools, a big chunk of that money has made its way through Salesforce's ecosystem.The numbers speak for themselves. Consistent 20%-plus revenue growth rates for several years. Gross margins closing in on 80%. An opex rate that is around 60%, and has potential to fall with increased scale. Connecting all those dots, it's easy to see that Salesforce is a great company with big profit growth potential in the long run. Salesforce Stock Is Slightly OvervaluedThe problem isn't that Salesforce is a bad company. Rather, the problem is that Salesforce stock is simply overvalued.Long story short, everyone and their best friend knows Salesforce is a great company. So, every investor has piled into Salesforce stock over the past several years. Last year, this "piling in" dynamic became too intense. Salesforce stock jumped into overvalued territory. Thus, even though Salesforce's numbers have been great over the past year, CRM stock hasn't gone anywhere, because the valuation already priced in those great numbers… and then some.Here's how I look at CRM stock. Customer 360 ramp over the next several years makes management's $28 billion revenue target by FY23 look doable, and I further think that secular cloud and CRM tailwinds will push Salesforce to a $35 billion revenue total by FY25 -- representing ~15% growth per year from FY20's guided revenue base. Gross margins should power higher during that stretch thanks to Salesforce's favorable pricing position. At the same time, the opex rate should fall some with scale, but not too much, as Salesforce will have to continue to spend big on marketing to sustain big revenue growth. * 10 Winning Stocks to Buy and Stick With for the Long Haul Inputting all those assumptions into my model, I think Salesforce can reasonably do about $6 in earnings-per-share by FY25. Based on an application software sector-average 35-times forward earnings multiple and a 10% discount rate, that equates to a FY20 price target for Salesforce stock of roughly $143.Thus, while the valuation reset period is almost over in CRM stock, it isn't fully over just yet. Bottom Line on CRM StockSalesforce is a great company. But, Salesforce stock is overvalued. That's why shares haven't gone anywhere over the past twelve months. It's also why shares may be range bound over the next few months. Eventually, though, the fundamentals will have caught up to the valuation -- and at that point, investors should consider buying Salesforce stock.As of this writing, Luke Lango did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Super Boring Stocks to Buy With Super Safe Returns * 10 Winning Stocks to Buy and Stick With for the Long Haul * Don't Give Up on These 4 Cannabis Stocks The post Valuation Friction Has Kept Salesforce Stock Stuck In Neutral appeared first on InvestorPlace.

  • salesforce to Fuel Esprit's Digital Transformation Journey

    salesforce to Fuel Esprit's Digital Transformation Journey

    salesforce's (CRM) cloud solutions will help Esprit to bring its ecommerce and marketing on a single platform. Moreover, its Success Cloud advisory services will accelerate Esprit's transformation.

  • SAP’s an Old Company With New Tricks in Battle to Dominate Cloud

    SAP’s an Old Company With New Tricks in Battle to Dominate Cloud

    (Bloomberg) -- SAP SE is sticking to its new plan of keeping the company youthful, and top management isn’t being spared.The storied German software giant, Europe’s biggest tech company by market value, has spent the past few years attempting to reinvent itself. It’s working to adapt its corporate software, used by almost all of the world’s 100 most valuable brands, to the web and is taking on younger rivals in cloud-based computing.There’s also been an exodus of company veterans, which as of 12:44 a.m. Friday in Walldorf, included CEO Bill McDermott.Analysts have called the late-night news a surprise; McDermott’s contract doesn’t run out until 2021. He also unveiled a major restructuring plan in April and was expected to brief investors on the company’s strategy next month.But, as he said on a conference call after the announcement, “Ten years is a long time to be CEO.”McDermott, 58, had been with the company since 2002 when he joined as head of its North American business. At the time, he was that unit’s fourth head in three years as SAP struggled to compete with rivals like Oracle Corp., and grappled with a drop in sales of software licenses. Problems with its products were blamed for delayed shipments of Whirlpool Corp.’s appliances and even Hershey’s Halloween chocolates.In the role, he recruited a new management team, changed the way the sales department targeted customers, and ultimately boosted sales growth. When CEO Leo Apotheker unexpectedly resigned in 2010, McDermott and product-development head Jim Snabe were picked to replace him as co-CEOs. Snabe -- currently chairman of Siemens AG -- stepped down and took a spot on the board in 2014, and McDermott became sole head of the company.With nearly 100,000 employees and a sprawling business that generated about $27 billion in revenue last year, driving change has sometimes been controversial. Since 2011, McDermott spent $26 billion on six major cloud acquisitions, and was the main advocate for the $8 billion acquisition of Qualtrics International Inc., the company’s largest-ever deal.Analysts criticized the purchase as too expensive. In November, Qualtrics said it expected revenue for 2018 to exceed $400 million, a figure that wouldn’t move the needle much for SAP. McDermott defended the deal, believing that combining SAP’s sales force and a trove of operational data with Qualtrics’s customer experience feedback would accelerate growth.More recently, the company attracted the interest of activists at Elliott Management Corp., which revealed its 1.2 billion-euro ($1.3 billion) stake when SAP announced a change in strategy in April. SAP had been vague at the time, saying it planned “new initiatives to accelerate operational excellence and value creation” with a focus on “tuck-in” acquisitions.SAP underwent a management shakeup in the weeks preceding the April announcement. The president of its cloud business, 27-year SAP veteran Robert Enslin, had announced his departure earlier that month. It was later revealed he’d left for Google. A day earlier, Chief Technology Officer Bjoern Goerke, another cloud expert based in the U.S., penned a blog post saying he was leaving the company he joined as a student in 1988. Board member Bernd Leukert, a seasoned IT executive, left SAP in February.Personally, McDermott also had to weather a near-fatal accident in 2015 that cost him an eye when he fell down some stairs while carrying a water glass and nearly bled to death.His replacements are a mix of old and new guard at SAP. Christian Klein, 39, spent the past 20 years at SAP, after joining as a student in 1999. Jennifer Morgan, 48, arrived in 2004 and was the first American woman on the company’s executive board. Morgan has been seen as McDermott’s protege, rising relatively quickly through the ranks, and most recently served as the president of the all-important cloud group.Together, Klein and Morgan will have to find a way to compete with younger companies like Inc. and Workday Inc. while encumbered by a traditional enterprise software business.Cloud is the company’s clear growth engine, with revenue increasing about 32% last year to about 5 billion euros. Sales from its largest business, which helps clients set up and implement SAP’s software, grew less than 1% in 2019.McDermott’s resignation was announced alongside better-than-expected preliminary third-quarter earnings results. New bookings for the company’s cloud products, a key metric that indicates future sales, grew 33% on a constant-currency business. That was more than double the pace set in the second quarter, when disappointed investors sent shares down as much as 10%.“While it is a shock to see Mr. McDermott stepping down, he is clearly handing over the reins of the business from a position of strength and we are encouraged to see that his replacements are long-term members of the SAP executive team,” said Thomas Fitzgerald, fund manager at SAP shareholder Edentree Investment Management, in a note on Friday.\--With assistance from Stefan Nicola.To contact the reporters on this story: Amy Thomson in London at;Kit Rees in London at krees1@bloomberg.netTo contact the editors responsible for this story: Giles Turner at, Nate LanxonFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • SAP Makes Surprise Leadership Change as CEO McDermott Steps Down

    SAP Makes Surprise Leadership Change as CEO McDermott Steps Down

    (Bloomberg) -- SAP SE named executives Jennifer Morgan and Christian Klein as the successors to Chief Executive Officer Bill McDermott, who’s stepping down after leading Europe’s largest software company during a decade of major industry changes.The two SAP veterans will become co-CEOs effective immediately, the company said Thursday in a statement. McDermott, 58, will remain at the company in an advisory role through the end of the year.Shares of SAP rose as much as 8.4% in Frankfurt on Friday, the most since April, and are up 31% for the year.Morgan, 48, who joined SAP in 2004, most recently served as president of the software giant’s cloud business group. She became the first American woman appointed to SAP’s executive board in 2017 when she was named president of the Americas and Asia. Klein, 39, joined SAP as a student in 1999 and has been chief operating officer since April 2016, and on the executive board since 2018.McDermott’s departure was unexpected, but the new co-CEOs were on investors’ “short-list” to take over in future, Citigroup analysts including Walter Pritchard said in a note.“The decision was made based on my determination that 10 years is a long time to be CEO,” McDermott said on a conference call after the announcement. “You get to the point when you have done what you set out to do and then some.”McDermott joined Walldorf, Germany-based SAP in 2002 and was the first American to hold the CEO position at the firm. He embraced cloud computing, changing the way SAP sold software so customers could use it over the internet. He’s been transitioning the company through acquisitions and revamped products, challenging rivals Inc. and Oracle Corp.While SAP had pledged to triple cloud revenue by 2023, the effort has shown mixed results and the company has pushed to shore up profit margins with the support of activist investor Elliott Management.Earlier, SAP reported preliminary third-quarter revenue and profit that topped analysts’ estimates. Cloud bookings, a key metric in the company’s transition, increased 33% on a constant currency basis, more than double the pace of the second quarter, the company said.SAP’s 3Q results “will likely be received positively and we’d expect will drive a relief in shares,” Citi said in its note.McDermott cited the strong results as a reason for the timing of the leadership change, saying he wanted to give his successors the reins while the company is at “maximum strength.”Morgan said she was only three hours into her tenure so didn’t know what changes she might push for, but expressed optimism in the leadership structure.“I’m a very big believer that when two people come together, you can really get a lot done,” she said on the conference call.McDermott said he was uncertain about his future plans.“I will do something at some point,” he said. “But today’s SAP’s day. There is no doubt in my mind the future of SAP is even brighter now.”(Updates with comments, context and shares throughout.)\--With assistance from Joe Easton.To contact the reporter on this story: Nico Grant in San Francisco at ngrant20@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at, Andrew PollackFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • (CRM) Gains But Lags Market: What You Should Know
    Zacks (CRM) Gains But Lags Market: What You Should Know (CRM) closed at $147.05 in the latest trading session, marking a +0.78% move from the prior day.

  • 3 Cloud Computing Stocks for Tech Investors to Buy in the Fourth Quarter

    3 Cloud Computing Stocks for Tech Investors to Buy in the Fourth Quarter

    Check out these three cloud-focused SaaS stocks we found using our Zacks Stock Screener for tech investors to consider buying in the fourth quarter of 2019...


    Buy Stock Because Its Potential Market Is Huge, Analyst Says

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  • Bull Of The Day: Five9 (FIVN)

    Bull Of The Day: Five9 (FIVN)

    Bull Of The Day: Five9 (FIVN)

  • Salesforce’s Marc Benioff urges fellow CEOs to be activists

    Salesforce’s Marc Benioff urges fellow CEOs to be activists

    Salesforce (CRM)  founder Marc Benioff oversees a $130 billion software empire from a 62-story skyscraper that towers above everything else in San Francisco. “We are at a point where CEOs recognize that they just can’t be for their shareholders,” Benioff said in an interview.

  • Salesforce founder Marc Benioff says ‘capitalism as we know it is dead’

    Salesforce founder Marc Benioff says ‘capitalism as we know it is dead’ Inc. co-CEO Marc Benioff said that capitalism in America is under siege and could be dying because stakeholders want more than merely profits from their companies.

  • Billionaire hedge fund manager Ray Dalio says his 'most valuable' principle is meditation
    Yahoo Finance

    Billionaire hedge fund manager Ray Dalio says his 'most valuable' principle is meditation

    Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, swears by transcendental meditation.

  • Why Marc Benioff thinks capitalism is dead
    American City Business Journals

    Why Marc Benioff thinks capitalism is dead

    For Salesforce founder and co-CEO Marc Benioff, making money is passe.  “Capitalism as we know it is dead,” Benioff said Thursday during a fireside chat at the TechCrunch Disrupt conference in San Francisco. It has to be more than that.” The “more” has been Benioff’s call to action to other CEOs to recognize a new norm for capitalism: The focus should be a company’s stakeholders, more so than just its shareholders.

  • (CRM) Outpaces Stock Market Gains: What You Should Know
    Zacks (CRM) Outpaces Stock Market Gains: What You Should Know (CRM) closed the most recent trading day at $147, moving +1.93% from the previous trading session.

  • Here is Hedge Funds’ 21st Highest Ranked Stock Idea
    Insider Monkey

    Here is Hedge Funds’ 21st Highest Ranked Stock Idea

    Does, inc. (NYSE:CRM) represent a good buying opportunity at the moment? Let’s quickly check the hedge fund interest towards the company. Hedge fund firms constantly search out bright intellectuals and highly-experienced employees and throw away millions of dollars on satellite photos and other research activities, so it is no wonder why they tend to […]

  • Bloomberg

    Zendesk Debuts New Products in Effort to Catch Salesforce

    (Bloomberg) -- Zendesk Inc. Chief Executive Officer Mikkel Svane recently hosted a routine two-cocktail lunch for more than a dozen employees celebrating four years at his company and realized he no longer recognized most of his workforce.“I know there’s a lot of shiny objects out there, so I want to thank you for spending four years with the company,” Svane said to the employees. “Four years is a big number in the world of tech startups.”While the maker of customer-service software has been public since May 2014, co-founder Svane continues to think of it as a startup. Annual revenue growth has been more than 30% and analysts estimate it will top $1 billion in 2020. Zendesk has seen its stock jump almost eightfold since its initial public offering, and its workforce increase to 3,200 from less than 1,000 five years ago. Svane has sought to bolster his skills and assemble a strong team to manage all of them.Over the last year, the company has taken a series of steps to compete head-to-head against Inc. It’s difficult to mount a serious challenge to the bellwether cloud applications company built by Marc Benioff. But Zendesk wants to expand while retaining transparent pricing and its distinctive quirks -- and avoiding the bragging that is a hallmark of the business technology market.On Thursday, during a user conference in San Francisco, Zendesk unveiled two more products meant to maintain sales momentum.The first is Sunshine Conversations, an extension of the company’s platform for managing customer relationships. The tool will help consumers make payments, browse products and book reservations in their preferred messaging system, Zendesk said in a statement.The second is called Gather, which will let clients such as Logitech International SA and InVision AG better provide customer support through online forums on their websites.The new products may help attract more large corporate customers. The company’s software already is used by Uber Technologies Inc., Airbnb Inc., Peloton Interactive Inc. and Slack Technologies Inc. -- companies born in the cloud-computing era that have grown alongside Zendesk.Chief Financial Officer Elena Gomez said Zendesk’s sales growth rate of more than 30% is sustainable.“For the foreseeable future, I would call that almost our floor,” she said in an interview.Svane, Alexander Aghassipour and Morten Primdahl founded Zendesk in Copenhagen in 2007. The company moved to San Francisco in 2009. Perhaps because he’s an outsider, Svane is the rare tech CEO who doesn’t see his job in grandiose terms.“Everybody wants to be Steve Jobs and change the world,” Svane said in an interview in a brick-lined boardroom that doubles as his office. “And for most of us, that’s not really the case. We build business software.”Still, the company has a strong philosophy on its work. It coined the word “humblident” -- a mash-up of humble and confident -- to describe its culture. While the word doesn’t roll off the tongue, executives said it’s an accurate way of describing the company’s demeanor, which they say is confident without being arrogant, and eager to earn the trust of clients.On Wednesday, Zendesk disclosed it suffered a data breach affecting 10,000 customer accounts created before November 2016. Hackers gained access to the names, phone numbers, and email addresses of business users and consumers, as well as concealed password information. Zendesk discovered the security lapse on Sept. 24 and said it found no evidence the passwords were used to access additional systems. The company said it hired forensic experts to assist with an investigation and notified law enforcement.“Our goal is to communicate this information as quickly as possible with transparency and guidance on how to address,” Zendesk said in a blog post. “We will be updating and sharing more information in this blog post and our help center as it becomes available.”Svane hopes to change the experience of business software users and their consumers so that their systems are simpler. He said most software is sold on “PowerPoints and lies” and he’s always wanted Zendesk to be different. The company has explicit pricing for its products on its website and pitches customers on the value of its software versus Salesforce.But Salesforce is the market leader. The company generates $3.6 billion from customer-service software each year, as well as $4 billion from its signature sales-tracking tool that has become the standard of the industry.Zendesk has competed well against Salesforce for small- and mid-sized clients though. Last year, Salesforce said it would sunset two sales and customer support tools that failed to catch on with smaller customers. Instead, Salesforce began offering pared-down versions of its high-end software.Zendesk has experienced some growing pains. After going public, new executives joined the company, leading to a period of cultural clashes and sales struggles. In the aftermath, Zendesk in August 2017 promoted Chief Information Officer Tom Keiser to chief operating officer, overseeing the sales organization and many operations as Svane focused on technology, vision and culture. The arrangement is similar to the one Salesforce has between co-CEOs Benioff, who co-founded the company, and Keith Block.Zendesk has also hired senior executives from Salesforce, Microsoft Corp., and Adobe Inc., who have experience running pieces of large organizations. Svane is open about needing as much help as he can get.“I still have a lot of work to do to be a fantastic CEO,” Svane said. “I think I’m a pretty good founder and I think having a founder CEO is a strength for a company because every single employee knows that I’m in it because I think it’s the most amazing thing and that I’m dedicated.”To contact the reporter on this story: Nico Grant in San Francisco at ngrant20@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at, Andrew Pollack, Alistair BarrFor more articles like this, please visit us at©2019 Bloomberg L.P.