Why Salesforce Acquired Gravitytank
Salesforce is currently on the acquisition bandwagon. In mid-September 2016, it announced its acquisition of Gravitytank.
Nov. 20 2020, Updated 1:49 p.m. ET
Salesforce targets the consultancy space
Earlier in the series, we discussed Salesforce’s (CRM) Commerce Cloud, which is expected to further its position in the CRM (customer relationship management) space.
Salesforce also made the news amid rumors that it, Google (GOOG), The Walt Disney Company (DIS), and Microsoft (MSFT) were each considering acquisitions of Twitter (TWTR).
Salesforce is currently on the acquisition bandwagon. In mid-September 2016, it announced its acquisition of Gravitytank. Unlike many of Salesforce’s acquisitions, this one wasn’t in the cloud space. Gravitytank is an innovation consultancy company that works with industries such as consumer electronics, digital technology, consumer packaged goods, and financial services. The financial details of the deal weren’t disclosed.
In a blog post, Gravitytank said that it would integrate its “expertise in design, research and strategy to help Salesforce’s customers shape their customer company vision and connect with their customers, employees and partners in new ways.”
Why Salesforce acquired Gravitytank
Considering that the majority of Salesforce’s acquisitions have been aimed at the cloud and artificial intelligence spaces, Gravitytank’s acquisition looked little surprising. A very likely reason for Salesforce’s acquisition of Gravitytank could have been to get its hands on Gravitytank’s engineering talent.
Founded in 1999, Gravitytank has approximately 70 employees, 33% of whom are employed in universities. Gravitytank’s customer list includes OfficeMax, Goodyear, and the Bill and Melinda Gates Foundation.