Salesforce CEO Benioff says Twitter has 'severe challenges,' wishes Dorsey well

Talks of Salesforce possibly acquiring Twitter resurfaced again on Wednesday, taking Salesforce's stock down more than 5 percent. However, CEO Marc Benioff told Jim Cramer that Twitter has severe issues.

"It's a great product," Benioff said about Twitter, "It's an exciting product, but obviously the business has a lot of challenges, very severe challenges."

Salesforce has been on an acquisition spree this year, most recently with the purchase of Krux for $700 million.





Marc Benioff
Tim Mosenfelder | Getty Images
Marc Benioff

Benioff described his acquisition strategy to the "Mad Money" host, saying that he is confident that his shareholders want him to look at every single company, pick the best ones and make deals with the ones that are in Salesforce's best interest. He wished Twitter CEO Jack Dorsey well.

"All I can do is one thing, which is wish my good friend Jack Dorsey well. He is the CEO of that company. It's his job to make that a great company. It is my job to make Salesforce a great company," Benioff said.

Benioff declined to comment specifically about any deal, because it would set a precedent of commenting on the deals that Salesforce does.

In an interview on CNBC's "Power Lunch" earlier on Wednesday, Benioff confirmed that it is in the interest of the company to look at all deals. However, he says he passes on most. One deal that Salesforce did not make was with LinkedIn, which was acquired by Microsoft.

While Benioff says he is still on good terms with Microsoft CEO Satya Nadella, he has major beef with his executives.

"I'm cool with Satya for sure, but some of his executives however, I am not cool with because they have made some very aggressive statements about what they are going to be doing with this LinkedIn data … It's amazing what they have said. And they are doing things that are absolutely anti-competitive, and that's what I wrote on Twitter," Benioff said.

Benioff said he worries that what these executives would do with the data "might have been a little bit on the wrong side of the fence."

Cramer weighed in on a potential deal between Salesforce and Twitter, stating "I think Twitter has the potential to become a very valuable asset under a company like Salesforce — the ultimate way to figure out what the consumer is thinking and what she wants."

Microsoft did not immediately respond to a request for comment on Benioff's commentary.


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