{"id":41239,"date":"2020-08-13T13:36:26","date_gmt":"2020-08-13T13:36:26","guid":{"rendered":"http:\/\/icloud.pe\/blog\/?guid=5603cac3e309e7a9b518a4cf4e86d79f"},"modified":"2020-08-13T13:36:26","modified_gmt":"2020-08-13T13:36:26","slug":"salesforce-offloads-zoom-shares-but-how-much-did-it-make","status":"publish","type":"post","link":"https:\/\/icloud.pe\/blog\/salesforce-offloads-zoom-shares-but-how-much-did-it-make\/","title":{"rendered":"Salesforce offloads Zoom shares, but how much did it make?"},"content":{"rendered":"


\n Sarah Brennan<\/a><\/span>
\n <\/span><\/p>\n

\n
\n
12 Aug, 2020<\/span><\/div>\n<\/p><\/div>\n<\/div>\n

\n<\/a><\/p>\n

\n

Salesforce<\/a> sold all of its 2.8 million Zoom<\/a> shares in the second quarter, according to a regulatory filing<\/a> published by the SEC.<\/p>\n

The company invested<\/a> a whopping $100 million in the video-calling software vendor\u2019s IPO last year and has more than tripled its\u00a0investment since then.\u00a0<\/p>\n

When Salesforce invested last year, Zoom made its public market debut at $36 a share. At the time, the head of Salesforce Ventures John Somorjai said the company\u2019s goal was to remain as a long-term investor in Zoom. However, the Salesforce lasted less than a year, though\u00a0it remains unclear when exactly in the second quarter Salesforce exited its position as an investor in Zoom.<\/p>\n

The use of\u00a0Zoom’s video-calling software skyrocketed<\/a> as a result of the coronavirus pandemic and its stock price has continued on an upward trend ever since.<\/p>\n

Zoom\u2019s lowest closing price during the quarter was on April 7 at $113.75 per share, while on June 25 it closed at its highest price, $259.51 per share,\u00a0a 620% leap since its IPO. However much Salesforce did make\u00a0should be included in Salesforce\u2019s upcoming earnings report<\/a>.<\/p>\n

Salesforce dumped its 2.2 million remaining shares of Dropbox<\/a> during the quarter too. Closing prices during the quarter were between $17.70 per share and $23.65 per share, suggesting Salesforce gained 12.6% on its Dropbox investment since the company\u2019s 2018 IPO.<\/p>\n

Salesforce is no stranger to investing in software companies and helping them accelerate growth as they debut on public markets. Most recently, Salesforce owned stakes in Dropbox, Lyft<\/a>, SurveyMonkey, Twilio<\/a> and Zoom. The company still retained 11% of its shares in SurveyMonkey at the end of the second quarter, though it\u2019s the only holding Salesforce listed. <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Sarah Brennan<\/p>\n

12 Aug, 2020 <\/p>\n

Salesforce sold all of its 2.8 million Zoom shares in the second quarter, according to a regulatory filing published by the SEC.
\nThe company invested a whopping $100 million in the video-callin…<\/p>\n","protected":false},"author":641,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-41239","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/41239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/users\/641"}],"replies":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/comments?post=41239"}],"version-history":[{"count":1,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/41239\/revisions"}],"predecessor-version":[{"id":41240,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/41239\/revisions\/41240"}],"wp:attachment":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/media?parent=41239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/categories?post=41239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/tags?post=41239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}