Salesforce Ramps Up it’s Investment in AI with Acquisition of Datorama for $800 Million

Salesforce Ramps Up it's Investment in AI with Acquisition of Datorama for $800 Million
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As the era of cutting-edge technologies such as artificial intelligence continues to take shape, more companies seem to be making an effort to align themselves with the looming technological revolution.

As such, most of these firms have opted to acquire artificial intelligence-based startups in a bid to take advantage of their already existing AI talent and expertise. Doing so helps to save leading companies a considerable amount of time, which would have been spent playing catch-up with other firms in the artificial intelligence field.

Salesforce sparked headlines regarding its intention to buy the Datorama, the Israeli marketing intelligence firm. The reports pertaining the intention to acquire Datorama came two months after Salesforce culminated its $6.8 billion purchase of MuleSoft, which is the largest ever purchase in the history of the company.

The software giant is said to have signed a definitive agreement to purchase Datorama, a foremost cloud-based, AI-driven analytics, and marketing intelligence platform for publishers, agencies, and businesses. According to the Israeli website CTech, Salesforce is anticipated to pay more over $800 million in cash for the startup.

Datorama prides itself on being a marketing intelligence and analytics company that utilizes insights from artificial intelligence (AI) to assist marketers in understanding which of their marketing campaigns operates and which ones do not.

What’s more, its more than 3000 customers comprise a mixture of global marketing brands and agencies such as Unilever, Ticketmaster, Pernod Ricard, Trivago, Foursquare, and PepsiCo. The company helps these brands in making data-driven decisions faster, automating reporting and optimizing marketing campaigns.

The acquisition of Datorama will help Salesforce in boosting the power of Marketing Cloud with both data intelligence and integration in a bid to allow marketers to unlock insights spread out across all of their data sources and marketing channels.

By leveraging the unified view of both insights and data, companies are in a better position to make smarter decisions across the entire customer journey and improve engagement at scale.

Salesforce will incorporate the marketing intelligence and analytics platform of its Marketing Cloud, which is a small but burgeoning part of the company’s product portfolio. Both Salesforce’s Commerce Cloud and Marketing Cloud, which are integrated into financial disclosures, accounted for only 13% of the company’s $9.7 billion revenue in fiscal 2018.

Although Datorama has its headquarters in New York, it also boasts offices across the globe including Tel Aviv. After the acquisition, the company’s customers will be in a position to take advantage of the power of the world’s #1 CRM in a bid to take action on both insights and data. In turn, this will allow the delivery of smarter engagement across the complete customer journey.

The recent announcement will help to reinforce the ability of Salesforce to empower brands across the globe in an effort to deliver smarter, more connected and personalized customer experiences. The undertaking complements recent innovations including its recent partnership with Marketing Cloud Einstein capabilities and Google Analytics 360.

Salesforce is a United States cloud computing company based in San Francisco, California. Aside from receiving revenue from its customer relationship management (CRM) product, the company acts as a vendor of commercial applications, particularly those of social networking, through internal development and acquisition.

Source BusinessInsider

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