Salesforce set to acquire VC-backed Quip for $750M
August 02, 2016
Quip has developed a productivity platform that combines chat, documents, spreadsheets and checklists to make team collaboration easier. Co-founded by ex-Facebook CTO Brett Taylor, Quip had raised $45 million in venture capital since its founding in 2012. Its most recent round, a $30 million Series B from Greylock Partners and Benchmark Capital, valued the company at $376 million. The acquisition is said to be for $750 million, but will have a value of about $582 million when Salesforce Ventures' stake in the company is taken into account, according to TechCrunch.
This news comes less than a month after Salesforce completed its acquisition of Demandware, a provider of enterprise cloud commerce solutions, for a reported $2.8 billion. Salesforce is also rumored to have been in the running to purchase LinkedIn before Microsoft scooped up the professional networking company in a deal valued at $26.2 billion.