Salesforce is dipping it toes into the world of productivity suits with the acquisition of Quip for $582 million. It’s all part of a race against Microsoft even though Quip’s market is a bit out of Salesforce’s grasp.
Quip has emerged as one of the inventors of word processing space but in its four years of operation, it is a fairly unfamiliar San Francisco startup. Letting teams join forces easily within the document they work on by putting a premium on its communication tool is the process followed by the company.
The former CTO (Chief technological Officer) at Facebook Bret Taylor is CEO of this firm. He was known as one of the co-creator of Google Maps. The company is grown into a 40 plus employees team and counts Facebook as one of its growing number of paying customers.
Taylor set out to build Quip after he correctly predicted the effect that smartphones are going to exert on the enterprise market while working with Facebook. As a part of Salesforce, the company is expected to grow quicker and better contest with productivity space against Microsoft and Google.
Salesforce and Microsoft being direct competitors in the recent past the acquisition of Quip Salesforce might give a bump on the popularity of Microsoft Office tools.