Last month, salesforce.com (NYSE: CRM ) sharpened the branding for its Marketing Cloud services via a new domain -- social.com -- and added tools for managing ad campaigns delivered via social networks. The company spent $2.6 million to acquire the rights to social.com two years ago, ReadWriteWeb reports.
If that sounds extravagant, it is. But the opportunity may justify the bet, says Tim Beyers of Motley Fool Rule Breakers and Motley Fool Supernova in the following interview with the Fool's Erin Miller. BIA Kelsey predicts that social ad spending will more than double from $4.7 billion last year to $11 billion in 2017.
Does the move make Salesforce stock a buy? Having a single domain allows Salesforce to offer clients a one-stop interface for creating and managing campaigns for Facebook (NASDAQ: FB ) and Twitter, which serve at least 1.5 billion users between them. Salesforce is tapping a large and growing opportunity that, for now, no one else wants, Tim says.
Do you agree? Please watch the video to get Tim's full take and then let us know whether you'd buy, sell, or short Salesforce stock in the comments box below.
It's incredible to think just how much of our digital and technological lives are almost entirely shaped and molded by just a handful of companies. Find out "Who Will Win the War Between the 5 Biggest Tech Stocks" in The Motley Fool's latest free report, which details the knock-down, drag-out battle being waged among the five kings of tech. Click here to keep reading.