Salesforce cashed out its Zoom stake last quarter, potentially scoring a 600% return in 14 months
Salesforce sold its Zoom stake last quarter, a regulatory filing revealed this week.
Marc Benioff’s software titan potentially made as much as $600 million in profit, depending on when it sold.
Salesforce bought 2.8 million shares in the video-conferencing group for $100 million in April 2019, and Zoom’s stock price has surged more than 500% since then.
The company also exited its Dropbox position and sold most of its SurveyMonkey shares.
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Marc Benioff’s enterprise-software company spent $100 million to buy about 2.8 million shares in the video-conferencing platform immediately after it went public last April.See the rest of the story at Business Insider
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