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If you tend to spend any time analyzing stock market data , you may have been struck by the sudden surge in Salesforce shares on Tuesday morning. Per reports, the shares saw a more than 12 percent single-day rise as Salesforce’s third-quarter earnings were reported in full. Not only did the corporation, listed as CRM on the New York Stock Exchange , manage to out-earn their Q3 projections in 2024, their recent pivot to artificial intelligence has led analysts to project significant additional growth in quarter 4 and beyond. Expectations for fourth-quarter sales have now been reported at highs of over $10 billion. Though these figures seem massive in scope, some analysts have successfully predicted this rise, as Salesforce has been on a financial uptick throughout all of 2024. To understand why these figures are significant, and what this means for the Salesforce market moving forward, we’ll have to take a brief look at the company’s existing business model, financial structure, and...
Buying Black just got a whole lot easier! Salesforce and Combs Enterprises have joined forces to create SHOP CIRCULATE, a curated digital marketplace that will allow customers to discover and buy products exclusively created and sold by Black entrepreneurs. On the heels of the centennial anniversary of the Tulsa Race Massacre this past weekend, SHOP CIRCULATE was created to equip Black businesses with a platform that would allow them to reach global audiences and will empower consumers to shop the world’s best Black-owned brands. “Building Black wealth starts with investing in Black-owned businesses and giving entrepreneurs access to the consumers needed to build sustainable companies that can thrive,” said Sean Combs , Chairman of Combs Enterprises in an official press release. “I’m excited to partner with Salesforce to create a platform that will advance our collective pursuit of economic justice.” The announcement reiterates the value that comes with both supporting and...
Salesforce is being sued by 50 women who alleged the company profited by helping Backpage participate in sex trafficking, as reported by CNBC . The lawsuit — which was filed Monday in Superior Court in San Francisco — claims that Salesforce’s data tools were utilized by Backpage and provided the “backbone” of its exponential growth. “With Salesforce’s guidance, Backpage was able to use Salesforce’s tools to market to new “users” — that is, pimps, johns, and traffickers — on three continents,” the lawsuit claims. A Salesforce spokesperson wouldn’t comment on pending litigation, but told CNBC, “We are deeply committed to the ethical and humane use of our products and take these allegations seriously.” Salesforce is known to have a sort of social justice profile. On the same day that the lawsuit was filed, the Red Cross of the Bay Area named Salesforce 2019 Humanitarian Company of the Year . Backpage was a classified ad site that was seized by U.S. authorities in April 2018 . The site...
In an effort to offset the impact the company has had on Seattle’s housing market, Microsoft has pledged $500 million to help build middle and low-income housing in the area, according to the New York Times. Host cities for big tech companies have seen their housing markets shift, with many residents being pushed out when they can no longer afford rent and other expenses. Amazon, which is also headquartered in Seattle, recently received backlash from Washington, D.C. and New York City residents after announcing that it is building its joint headquarters in the cities. According to a report by Zillow , although incomes in some of America’s more expensive housing markets are typically higher than other cities, they have not been able to keep up with housing costs — this puts renters in a bind and increases the risk of homelessness. New York, Boston, Los Angeles, San Francisco and Seattle are some of the priciest housing markets in the country. People in these areas who typically spend...