Mobile Commerce

CloudCraze Being Sold To Salesforce For Undisclosed Sum

CloudCraze, the enterprise eCommerce startup, announced Tuesday (March 13) that it is being acquired by Salesforce, the customer relationship management software company.

In a blog post, Ray Grady, president and chief customer officer at CloudCraze, said the company’s B2B commerce platform, which is built on Salesforce’s cloud platform, enables companies to provide personalized experiences for business customers as they make purchases over the Internet. “Our customers are at the core of every new product or strategic decision we make. As we look ahead to joining the Salesforce family, we’re even more excited about the opportunity to help forward-thinking companies deepen business buyer engagement and increase their share of the market for years to come,” wrote Grady in the blog post. Terms of the deal were not disclosed.  Currently, CloudCraze counts Coca-Cola, Cummins, Ecolab, Land O’ Lakes, and WABCO as customers.

According to Grady, with the B2B commerce market set to hit $1.2 trillion by 2021 — up from $889 billion today — its important for businesses to capture the opportunity, which can be done via personalization. With CloudCraze as part of the Salesforce Commerce Cloud, he said Salesforce customers can shift to digital commerce and enable business buyers to shop and purchase online as easily as consumers do. “The increasing demand for B2B commerce solutions in the cloud has been a core contributor to our incredible growth since being founded in 2009. After a $20 million funding round from Insight Venture Partners and Salesforce Ventures in 2017, we have supercharged product development and become a market leader in the U.S. and EMEA,” wrote Grady. “We are thrilled that we will soon become part of the amazing Salesforce family and continue to push B2B commerce forward.”

The acquisition of CloudCraze marks the second purchase by Salesforce since the start of this year. In 2016 TechCrunch reported it acquired more than twelve companies. In 2017 it reigned in acquisition but appears to be picking up the pace this year.

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PYMNTS STUDY: THE CROSS-BORDER MERCHANT FRICTION INDEX – JUNE 2020

The PYMNTS Cross-Border Merchant Friction Index analyzes the key friction points experienced by consumers browsing, shopping and paying for purchases on international eCommerce sites. PYMNTS examined the checkout processes of 266 B2B and B2C eCommerce sites across 12 industries and operating from locations across Europe and the United States to provide a comprehensive overview of their checkout offerings.

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