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WHEN: Today, Wednesday, October 5th
WHERE: CNBC's "Power Lunch"
Following is the unofficial transcript of a CNBC interview with Salesforce Chairman and CEO Marc Benioff and Jim Cramer on CNBC's "Power Lunch" (M-F, 1-3PM ET) today, Wednesday, October 5th. Following is a link to the video on CNBC.com: http://video.cnbc.com/gallery/?video=3000556871
All references must be sourced to CNBC.
MICHELLE CARUSO-CABRERA: WELCOME BACK TO POWER LUNCH. SALESFORCE SHARES DROPPING ON REPORTS THAT IT'S INTERESTED IN BUYING TWITTER, WHILE SHARES OF TWITTER ARE HIGHER ON THE NEWS. JOINING US FROM SAN FRANCISCO IS "MAD MONEY'S" JIM CRAMER AND HE'S GOT SALESFORCE CEO MARC BENIOFF IN A CNBC EXCLUSIVE. TAKE IT AWAY, JIM.
JIM CRAMER: THANK YOU, MICHELLE. MARC, 171,000 PEOPLE, DREAMFORCE, WHAT ARE THEY DOING HERE?
MARC BENIOFF: JIM, THIS IS A FAMILY REUNION. THEY HAVE COME BACK TO SEE EACH OTHER AND TO GIVE EACH OTHER A HUG. THESE ARE THE PEOPLE WHO ARE MAKING SALESFORCE SUCCESSFUL. THEY COME HERE ONCE A YEAR. THERE'S MORE THAN 170,000 REGISTERED TO ATTEND. THEY'RE ALSO ATTENDING ON VIDEO. THERE'S MORE THAN 15 MILLION THAT WE EXPECT TO JOIN US ON VIDEO THIS WEEK, AS WELL.
CRAMER: WHEN I SEE THIS, I THINK THAT THE IDEA THAT YOU COULD DO 10 BILLION GOING TO 20 BILLION, IT'S GONNA HAPPEN.
BENIOFF: OF COURSE IT'S GONNA HAPPEN. IT IS ALL ABOUT WHEN IT'S GONNA HAPPEN, NOT IF IT'S GONNA HAPPEN. I MEAN, YOU CAN FEEL THE MOMENTUM HERE. I READ THIS GREAT NOTE FROM HEATHER BELLINI THIS MORNING, WHO'S ONE OF MY VERY FAMOUS PEOPLE--
CRAMER: GOLDMAN SACHS.
BENIOFF: YEAH. SHE TALKED ABOUT HOW CORE, OUR CORE IS SO STRONG AND WHEN SHE MEETS WITH THESE PARTNERS HERE, SHE JUST KIND OF REITERATED THAT FEELING. AND THAT'S HOW I WOKE UP THIS MORNING. AFTER MEETING WITH ALL THESE AMAZING CUSTOMERS YESTERDAY, IT REVALIDATED SOMETHING I ALREADY KNEW. OUR CORE IS SO VERY, VERY STRONG.
CRAMER: ALRIGHT, IF YOUR CORE IS SO VERY, VERY STRONG, WHY DON'T WE ADD BACK RIGHT NOW $3.4 BILLION IN MARKET CAP AND YOU JUST DENY ENTIRELY THAT YOU'RE WILLING TO PAY FOR TWITTER. JUST RIGHT NOW.
BENIOFF: I'M GOING TO LEAVE THE STOCK MARKET UP TO YOU, AS I ALWAYS DO. WHENEVER THE STOCK GOES DOWN, YOU ALWAYS ASK ME THAT QUESTION. BUT I'LL TELL YOU WHAT, YOU KNOW, WHEN IT COMES TO TWITTER, YOU HAVE TO LOOK AT IT LIKE THIS. NUMBER ONE, WE LOOK AT EVERYTHING, YOU KNOW THAT, JIM.
CRAMER: RIGHT. YOU LOOKED AT LINKEDIN.
BENIOFF: WE LOOK AT EVERYTHING. YOU NAME IT, WE HAVE LOOKED AT IT. IT IS IN OUR INTEREST TO LOOK AT EVERYTHING. WE HAVE TO GO DEEP ON EVERYTHING. WE HAVE TO UNDERSTAND WHAT IS POSSIBLE FOR OUR SHAREHOLDERS, WHAT ISN'T. IN THE SCHEME OF THINGS, IF YOU LOOK BACK AT MY TRACK RECORD AS A CEO, I THINK YOU'LL FIND THAT WHILE I LOOK AT A LOT OF THINGS, I ACTUALLY PASS ON MOST THINGS.
CRAMER: OKAY, WELL YOU'VE GOT SOME VERY BIG SHARE HOLDERS THAT OWN BIG STAKES. YOU TALK TO YOUR SHAREHOLDERS. THERE'S A SHAREHOLDER LIKE FIDELITY. THEY OWN A GIGANTIC AMOUNT OF STOCK. OBVIOUSLY, SOMEONE IS UNHAPPY THAT YOU'RE EVEN IN TALKS. I HAVE TO BELIEVE IT'S A FIDELITY. MAYBE A T. ROWE. YOU WANT TO SATISFY OTHER SHAREHOLDERS BESIDES YOURSELF.
BENIOFF: I'M JUST NOT WILLING TO START A PRECEDENT BY HAVING TO ADDRESS SPECIFIC DEALS. BECAUSE IF I DID, THEN ALL OF THE DEALS --
CRAMER: THIS IS SUGH A GREAT PLACE TO DO IT.
BENIOFF: I KNOW. EVEN THOUGH IT'S GOT GORGEOUS WEATHER, EVEN THOUGH THE COMPANY IS DOING SO GREAT, EVEN THOUGH THE CUSTOMERS ARE SO HAPPY, IF I START TO ADDRESS SPECIFIC DEALS, THEN, YOU KNOW, WHERE ARE WE GOING TO END UP? EACH AND EVERY SEGMENT I'M WITH YOU, YOU'RE GONNA BE LIKE, WELL I HEARD YOU'RE GOING WITH THIS COMPANY, I HEARD YOU'RE GOING WITH THAT COMPANY. AND THE REALITY IS, LOOK, WE HAVE TO LOOK AT EVERYTHING, WE'RE GONNA PASS ON MOST THINGS. AND THE REALITY IS OUR DECISIONS HAVE BEEN VERY, VERY GOOD FOR OUR COMPANY. ON THE VAST MAJORITY OF THE DEALS WE DO, THE STOCK GOES UP. GREAT EXAMPLE, DEMANDWARE. EVEN KRUX THAT WE JUST DID, A PRIVATE COMPANY. WE HAD ANOTHER AMAZING COMPANY WE BROUGHT THIS YEAR, QUIP. AND THIS IS A YEAR WE DIDN'T EVEN THINK WE WERE GONNA BE BUYING ANY COMPANIES. THAT'S WHAT'S AMAZING ABOUT THIS YEAR.
CRAMER: I'VE KNOWN YOU FOR A LONG TIME. IF YOU WANTED SOMETHING LIKE TWITTER, WHY CAN'T YOU INVENT IT? MARC, YOU'RE A GREAT INVENTOR. YOU CAN PUT THIS THING TOGETHER. TWITTER 2.0. JUST MAKE IT BETTER. YOU DON'T NEED THEM. DO IT YOURSELF.
BENIOFF: WELL YOU COULD LOOK TO OUR COMMERCE CLOUD AS AN EXAMPLE OF THAT. THAT'S GOT 300 MILLION USERS. TWITTER'S GOT 300 MILLION USERS. IT'S GROWING REALLY DRAMATICALLY, THE COMMERCE CLOUD.
CRAMER: SO THE HECK WITH TWITTER. LET'S JUST PUT IT DOWN.
BENIOFF: WE HAVE INCREDIBLE GROWTH. WE HAVE INCREDIBLE -- YOU KNOW, WE'RE THE FASTEST GROWING OF THE TOP TEN SOFTWARE COMPANIES AND WE HAVE SUPER HAPPY CUSTOMERS. THAT'S A GOOD COMBINATION. GREAT TECHNOLOGY, GREAT CAPABILITIES, BUT AT THE END OF THE DAY, WE STILL HAVE TO LOOK AT EVERYTHING BECAUSE ONE OF THE WAYS WE INNOVATED IS NOT JUST ORGANICALLY, IT'S ALSO INORGANICALLY. SO WE HAVE A RICH HISTORY OF INNOVATION BUT IT'S BEEN VERY SMART ACQUISITION, AND WHEN WE DO THESE ACQUISITIONS, WE DO THEM WITH OUR STOCKHOLDERS IN MIND.
CRAMER: THE ACQUISITIONS LIKE GEEZ, I HAPPEN TO LIKE THIS ONE, KRUX. THAT WOULD BE FABULOUS TO DATA MINE. DON'T YOU NEED MORE DATA TO MINE OR IS THAT UP TO THE CUSTOMERS?
BENIOFF: I THINK EVERY COMPANY'S GONNA NEED MORE DATA TO MINE. THAT'S WHY WE'RE SELLING OUR PRODUCTS TO OUR CUSTOMERS SO THEY WILL HAVE MORE DATA TO MINE. SO THANK YOU FOR MAKING THAT POINT. THAT'S REALLY MISSION CRITICAL.
CRAMER: DOES THIS BRING IN MORE MONEY FOR SAN FRANCISCO THAN IT DOES FOR SALESFORCE?
BENIOFF: THIS IS $200 MILLION IN REVENUE FOR SAN FRANCISCO. IT'S ALSO, WE'RE RAISING $4 MILLION THIS WEEK FOR (RED). WE'RE RAISING ALMOST $11 MILLION FOR UCSF, SAN FRANCISCO AND OAKLAND CHILDREN'S HOSPITALS WHICH HAS BEEN REALLY EXCITING.
CRAMER: YEP, I KNOW. WE'RE INVOLVED.
BENIOFF: AND WE HAVE BEEN DOING GREAT THINGS FOR VETS. AND ALSO WE'RE DOING GREAT THINGS FOR PUBLIC EDUCATION. YOU KNOW I STRONGLY BELIEVE EVERYONE'S GOT TO ADOPT A PUBLIC SCHOOL, JIM. THAT'S AN IMPORTANT PART OF OUR FUTURE.
CRAMER: WE DID IT.
BENIOFF: AND WE'RE GONNA DO IT ALL AT DREAMFORCE, EVERYTHING.
CRAMER: THANK YOU VERY MUCH. MARC BENIOFF, CHAIRMAN & CEO OF SALESFORCE. BRIAN, BACK TO YOU.
BRIAN SULLIVAN: HEY, JIM, THANK YOU VERY MUCH, BUDDY. GREAT INTERVIEW WITH MARC BENIOFF.
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