The company's CEO on "Mad Money" last night.
- But for starters, what is Salesforce.com? For those of us who aren’t up with the current lingo, Salesforce.com operates in the cloud-computing space—one of the biggest trends in technology right now. In a nutshell, cloud computing delivers personal applications you use everyday (such as e-mail and word processing) from centralized servers on the Web. It also can be used for business applications such as customer service and accounting software. And cloud computing is much cheaper and more efficient than storing these applications on every single computer within the network.
- Now Salesforce.com is taking it one step further—to Cloud 2, which will deliver these applications in a way that’s more social, more mobile and more real time. The company today released its newest application, Chatter, a combination of Facebook and Twitter for companies that allows users to follow people, business processes and application data. Now users can collaborate around more than just documents. Cramer said that with this product Salesforce.com is “taking everything we’ve learned about social media and applying it to the world of business.”
- CRM is the best play on what could be a $100 billion cloud-computing market, Cramer said, and he expects Chatter to be “huge.”
Long Salesforce.com in fund; no personal position