Salesforce: Good at selling, better at buying
Few weeks ago, Salesforce announced that it's acquiring Slack for $27.7B. Is Slack a good acquisition? As mentioned in previous articles, on paper Slack is exactly the kind of company that might have "done a Zoom" in 2020 as remote work and biz communication tools exploded in usage and popularity. Thanks to competition from Microsoft that didn't quite happen, leaving its share price roughly where it was at the start of the year... until Salesforce swooped in with an offer for the whole thing. It's true that Salesforce pays its bills by helping its customers sell and manage client relationships, but its own corporate strategy has been a lot more focused on buying. The Slack deal is Salesforce's biggest yet, and it comes just 16 months since Salesforce splashed $15.7B on buying Tableau — the analytics and data visualization software. A lot of acquisitions end up being poor deals for the acquiring company. Too much ego, too much "empire-building" on the...