The market has always had a love/hate relationship with Salesforce. On one end, you have a business that has been able to grow revenue sustainably for decades, albeit with some assistance from M&A — notably Tableau, Mulesoft, and Slack. On the other end, it’s a software business trading at 10X sales when other SaaS businesses are comfortably trading between 20-50x sales.
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Salesforce: An ever-expanding TAM and a new…
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The market has always had a love/hate relationship with Salesforce. On one end, you have a business that has been able to grow revenue sustainably for decades, albeit with some assistance from M&A — notably Tableau, Mulesoft, and Slack. On the other end, it’s a software business trading at 10X sales when other SaaS businesses are comfortably trading between 20-50x sales.