Executive Decision: Salesforce.com CEO Marc Benioff
Salesforce.com CEO Marc Benioff is “perhaps the most bankable CEO I ever have on the show,” Cramer told viewers on Monday. How does one define bankable, a term the Mad Money host uses to describe his favorite managers? By delivering a 22% jump in share price between visits to this show, for one thing.
Benioff last appeared on Mad Money on Aug. 20, immediately after his firm reported a strong fiscal second quarter, with the stock trading at $46.18. On Monday, Salesforce.com , which pioneered the delivery of enterprise software over the Web, closed at $56.42, getting an added bump thanks to a new deal with Cisco Systems.
But that only tells part of the story. No doubt the Cisco deal was a smart one, as it’s a push into what Benioff predicted could be a $1 billion customer-service market by 2013. But “cloud computing,” or the development, use and delivery of applications that run over the Internet, is Salesforce’s main business, and it’s the reason Cramer’s so excited about this stock.
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So what exactly does Salesforce.com do? Cramer has struggled at times in trying to describe the company’s products to viewers. That’s why he invited CEO Benioff back to the show, for a hands-on demo. And to talk business, of course. Watch the video for Cramer’s full interview.
Cramer’s charitable trust owns Cisco Systems.
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