Salesforce will raise prices for some of its cloud and marketing tools by an average 9% from August, the maker of software for customer relations management said, sending its shares up nearly 4% in early trading on Tuesday.
A logo of Salesforce is seen at its exhibition space, at the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France June 16, 2022. REUTERS/Benoit Tessierwill raise prices for some of its cloud and marketing tools by an average 9% from August, the maker of software for customer relations management said, sending its shares up nearly 4% in early trading on Tuesday.
Its first price hike in seven years comes at a time when Salesforce and several other technology companies are increasing their spending to include generative artificial intelligence to their products and services. The company has over the past seven years invested more than $20 billion in research and development to add new features, including generative AI tools, to its software.
The price hike also comes as revenues from cloud services that grew at a scorching pace during the pandemic lockdown have started to slow.
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