Fortune Names Salesforce.com One of the “100 Fastest-Growing Companies”
Enterprise cloud computing company ranked among Top 5
SAN FRANCISCO August 24, 2010 — Salesforce.com (NYSE: CRM), the enterprise cloud computing company, announced it has been ranked fourth on FORTUNE’s 2010 “100 Fastest-Growing Companies” list. The full list and related stories appear in the Sept. 6, 2010 issue of FORTUNE, available on newsstands Monday, Aug. 23, and now at http://money.cnn.com/magazines/fortune/fortunefastestgrowing/2010/index.html.
Comments on the news
• ”Cloud computing is taking the entire IT industry by storm,” said Marc Benioff, chairman and CEO of Salesforce.com. “The momentum and growth we are seeing right now is just another proof point that the ‘End of Software’ has arrived.”
• FORTUNE Managing Editor Andy Serwer writes in the Sept. 6, 2010 issue, “The troubled economy is on all of our minds these days, but sometimes we forget that even in the long slog we seem to be in, entrepreneurs are hard at work creating the next Cisco or Amgen or Starbucks.”
To qualify for 100 Fastest-Growing Companies, foreign or domestic companies had to meet the following criteria: be trading on a major U.S. stock exchange; file quarterly reports with the SEC; have a minimum market capitalization of $250 million and a stock price of at least $5 on June 30, 2010; and have been trading continuously since June 30, 2007. The company must also have revenue and net income of at least $50 million and $10 million, respectively, for the four quarters ended on or before April 30, 2010. Finally, the company must have posted an annualized growth in revenue and earnings per share of at least 15% annually over the three years ended on or before April 30, 2010.
Companies that meet the above criteria were ranked by revenue growth rate; EPS growth rate; and three-year annualized total return for the period ended June 30, 2010. (To compute the revenue and EPS growth rates, FORTUNE uses a trailing four quarters log linear least square regression fit.) The overall rank was based on the sum of the three ranks. Once the 100 companies were identified, they were then re-ranked within the 100, using the three equally weighted variables. If there is a tie, the company with the larger four-quarter revenue receives the higher rank.
This latest recognition follows salesforce.com being named to both FORTUNE’s 2009 and 2010 "100 Best Companies to Work for" list; winning two 2010 Stevie Awards for its innovation and corporate philanthropy, being named as one of the 100 Most Trustworthy Companies in 2010 by Forbes and CEO, Marc Benioff, being named one of FORTUNE’s 2010 50 Smartest People in Technology.
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