By: Eugene Kim
Salesforce just bought another startup called Twin Prime, adding to its $5 billion acquisition spree this year.
Twin Prime is a five-year old startup that helps mobile apps perform better. Its CEO Katrik Chandrayana claims that Twin Prime customers increased their time spent in-app by up to 50%.
The deal was announced through Twin Prime’s website. Salesforce declined to comment.
Financial details were not disclosed. But given Salesforce didn’t file an 8-K, it’s probably not a huge amount. Twin Prime has raised $11.5 million so far, and was last valued at around $25 million, according to Pitchbook.
This is Salesforce’s 10th acquisition this year. The company’s been on an absolute buying binge, spending roughly $5 billion on M&A deals over the past 12 months.
In fact, investors were so worried about Salesforce’s pace of acquisitions that some of them sent emails to CEO Marc Benioff to cool down a bit, right around when the company was rumored to be planning to buy Twitter, a company worth $13 billion. Salesforce was also part of the bidding war for LinkedIn, which ended up selling to Microsoft for $26 billion.