Salesforce Invests $40 Million in Community, a Text-Messaging Platform
Recently, the Wall Street Journal reported that the #1 CRM leader Salesforce is investing in a text-messaging startup called Community. Salesforce invested $40 million in Community from Salesforce Ventures, the investing arm of the software company. Community Inc. allows creators, brands, celebrities, and other individuals to connect with their audiences through texts.
Besides, this new funding by Salesforce helped Community raise a total amount of $90 million. Reportedly, other investors include- Twilio, Live Nation Entertainment, and Sony Innovation Fund.
This funding by Salesforce may come out as a direct way of communication that the company wants with its consumers. Also, the growing restrictions on online tracking harness their efforts to create digital ads that work for them.
Why Community?
Community was first launched in 2019, raising millions of dollars from top investors like Ashton Kutcher. They wanted to create an app that allows creators, celebrities, and influencers to text their fans. For your information, the early users of this app include- Jake Paul, Jennifer Lopez, Paul McCartney, and Ellen Degeneres.
Salesforce’s Take
President and Chief Marketing Officer of Salesforce, Sarah Franklin, says, “Community provides a powerful example of how organizations of any size can foster a human connection to build meaningful relationships and drive growth.” She further added, “As a CMO, when you look at the trends of cookies going away, more privacy compliance, and security regulations on third-party data, you’re looking for ways to build direct relationships.”
We will see how this investment turns out for Salesforce. Furthermore, we are still waiting for official confirmation by Salesforce on this. Till the time Salesforce launches a press release on this investment and how it would help them, we can only wonder about Community’s capabilities.
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