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Salesforce's CEO bashes SAP: 'They should try writing some software'
(Robert Galbraith/Reuters)
Hot off another stellar quarter that beat on revenue and profits, Marc Benioff repeated his new goal to be "the fastest software company ever to $10 billion in revenue."
But he also added that his "dream" was to "beat" SAP. And he thinks doing that will be a cakewalk, he told Wall Street analysts on the quarterly conference call.
When Salesforce hits that goal $10 billion goal, the company will be the fourth largest software company in thew world, he said:
When that happens, we are really targeting one company to beat and that's SAP. Fortunately for us, their kind of lackluster growth execution and lack of innovation in their core product, we just saw in their product this quarter, they are an easy target.
... the $10 billion revenue run rate that's step 1. Step 2 is go past SAP. I think we can absolutely do that. I'm personally committed to making that happen. That's my dream.
And the trash talk didn't stop there. Later Benioff said, "The only innovation SAP has is in rhetoric. They should try writing some software."
(Business Insider) Bill McDermott
He may have been referring to SAP CEO Bill McDermott's recent statements that that SAP isn't interested in buying Salesforce, nor does McDermott think any of his competitors would be willing to cough up the huge price Salesforce would command.
Its stock has been trading at near-time highs with a market cap of about $46 billion.
As to when this $10 billion dream will happen, Benioff won't commit. The $10 billion in "run rate" revenue is about double the revenue that Salesforce had when it wrapped up its fiscal 2015 last quarter.
But Benioff says Salesforce already has $9 billion under contract, $3 billion of it as deferred revenue and another $6 off the books, as un-billed deferred revenue.
As for chasing SAP, the biggest maker of application software in the world, Benioff isn't alone in that dream.
His old employer, Oracle, has been trying to beat SAP in the application market since 1999, Safra Catz recently said. Oracle is No. 2 and closing in, she's convinced.
But she also says, "Silver medal is the first loser."
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