# Salesforce — Capital Time Machine Salesforce’s IPO filing documents Series A through D share prices, share counts and proceeds, making it a strong private-to-public comparison. Canonical citation: https://capitaltimemachine.com/private/salesforce Ticker: CRM Sector: Enterprise software Public-market route: IPO Evidence reviewed: 2026-09-24 ## How to use this research Selected historical funding and listing evidence, not a complete private cap table or live quote. Funding totals, company valuations and per-share prices are different measures. A hypothetical value is not actual sale proceeds; investor access is not established. ## Funding and listing history ### A — Series A Date: April 1999 Event type: Private preferred financing 25,850,000 preferred shares sold at $0.02. The prospectus reports gross consideration; D also involved warrants excluded from this model. Reported capital or financing: $517,000 reported gross Reported price: $0.02 Source: [Salesforce final 2004 IPO prospectus](https://www.sec.gov/Archives/edgar/data/1108524/000119312504107098/d424b1.htm) Source location: Cover; preferred-stock financing history and conversion; Series A–D issuances. ### B — Series B Date: June 1999 Event type: Private preferred financing 12,588,345 preferred shares sold at $0.30. The prospectus reports gross consideration; D also involved warrants excluded from this model. Reported capital or financing: $3,776,504 reported gross Reported price: $0.30 Source: [Salesforce final 2004 IPO prospectus](https://www.sec.gov/Archives/edgar/data/1108524/000119312504107098/d424b1.htm) Source location: Cover; preferred-stock financing history and conversion; Series A–D issuances. ### C — Series C Date: November 1999 Event type: Private preferred financing 7,526,640 preferred shares sold at $1.75. The prospectus reports gross consideration; D also involved warrants excluded from this model. Reported capital or financing: $13,171,620 reported gross Reported price: $1.75 Source: [Salesforce final 2004 IPO prospectus](https://www.sec.gov/Archives/edgar/data/1108524/000119312504107098/d424b1.htm) Source location: Cover; preferred-stock financing history and conversion; Series A–D issuances. ### D — Series D Date: March 2000–June 2001 Event type: Private preferred financing 12,059,360 preferred shares sold at $3.89. The prospectus reports gross consideration; D also involved warrants excluded from this model. Reported capital or financing: $46,910,910 reported gross Reported price: $3.89 Source: [Salesforce final 2004 IPO prospectus](https://www.sec.gov/Archives/edgar/data/1108524/000119312504107098/d424b1.htm) Source location: Cover; preferred-stock financing history and conversion; Series A–D issuances. ### ipo — Salesforce goes public Date: 2004-06-23 Event type: IPO 10 million shares at $11 represented $110 million of gross IPO proceeds, before underwriting and expenses. Reported capital or financing: $110 million gross Reported price: $11 Source: [Salesforce final 2004 IPO prospectus](https://www.sec.gov/Archives/edgar/data/1108524/000119312504107098/d424b1.htm) Source location: Cover; preferred-stock financing history and conversion; Series A–D issuances. ### split — Four-for-one split Date: 2013-04-18 Event type: Share basis One IPO share becomes four shares on the split-adjusted trading basis. Source: [Salesforce four-for-one stock split](https://www.sec.gov/Archives/edgar/data/1108524/000119312513119676/d508364dex991.htm) Source location: March 21, 2013 release: split-adjusted trading April 18, 2013. ## Documented share calculations ### A — Series A · $0.02 Starting price: 0.02 USD per starting share Starting date or context: April 1999 Base conversion: 1 common-share equivalents per starting share, before dated public splits One common share per preferred share at IPO. The later four-for-one public split is applied only for price dates on or after April 18, 2013. Warrants are excluded. Public trading begins: 2004-06-23 Supported ending dates begin: 2004-06-23 Share basis reviewed through: 2013-04-18 Documented endpoint: IPO offer price · $11; 11 USD per share on 2004-06-23. Formula: amount ÷ 0.02 × (1) × applicable dated public splits × ending share price. Source: [Salesforce final 2004 IPO prospectus](https://www.sec.gov/Archives/edgar/data/1108524/000119312504107098/d424b1.htm) Source location: Cover; preferred-stock financing history and conversion; Series A–D issuances. Source: [Salesforce four-for-one stock split](https://www.sec.gov/Archives/edgar/data/1108524/000119312513119676/d508364dex991.htm) Source location: March 21, 2013 release: split-adjusted trading April 18, 2013. ### B — Series B · $0.30 Starting price: 0.30 USD per starting share Starting date or context: June 1999 Base conversion: 1 common-share equivalents per starting share, before dated public splits One common share per preferred share at IPO. The later four-for-one public split is applied only for price dates on or after April 18, 2013. Warrants are excluded. Public trading begins: 2004-06-23 Supported ending dates begin: 2004-06-23 Share basis reviewed through: 2013-04-18 Documented endpoint: IPO offer price · $11; 11 USD per share on 2004-06-23. Formula: amount ÷ 0.30 × (1) × applicable dated public splits × ending share price. Source: [Salesforce final 2004 IPO prospectus](https://www.sec.gov/Archives/edgar/data/1108524/000119312504107098/d424b1.htm) Source location: Cover; preferred-stock financing history and conversion; Series A–D issuances. Source: [Salesforce four-for-one stock split](https://www.sec.gov/Archives/edgar/data/1108524/000119312513119676/d508364dex991.htm) Source location: March 21, 2013 release: split-adjusted trading April 18, 2013. ### C — Series C · $1.75 Starting price: 1.75 USD per starting share Starting date or context: November 1999 Base conversion: 1 common-share equivalents per starting share, before dated public splits One common share per preferred share at IPO. The later four-for-one public split is applied only for price dates on or after April 18, 2013. Warrants are excluded. Public trading begins: 2004-06-23 Supported ending dates begin: 2004-06-23 Share basis reviewed through: 2013-04-18 Documented endpoint: IPO offer price · $11; 11 USD per share on 2004-06-23. Formula: amount ÷ 1.75 × (1) × applicable dated public splits × ending share price. Source: [Salesforce final 2004 IPO prospectus](https://www.sec.gov/Archives/edgar/data/1108524/000119312504107098/d424b1.htm) Source location: Cover; preferred-stock financing history and conversion; Series A–D issuances. Source: [Salesforce four-for-one stock split](https://www.sec.gov/Archives/edgar/data/1108524/000119312513119676/d508364dex991.htm) Source location: March 21, 2013 release: split-adjusted trading April 18, 2013. ### D — Series D · $3.89 Starting price: 3.89 USD per starting share Starting date or context: March 2000–June 2001 Base conversion: 1 common-share equivalents per starting share, before dated public splits One common share per preferred share at IPO. The later four-for-one public split is applied only for price dates on or after April 18, 2013. Warrants are excluded. Public trading begins: 2004-06-23 Supported ending dates begin: 2004-06-23 Share basis reviewed through: 2013-04-18 Documented endpoint: IPO offer price · $11; 11 USD per share on 2004-06-23. Formula: amount ÷ 3.89 × (1) × applicable dated public splits × ending share price. Source: [Salesforce final 2004 IPO prospectus](https://www.sec.gov/Archives/edgar/data/1108524/000119312504107098/d424b1.htm) Source location: Cover; preferred-stock financing history and conversion; Series A–D issuances. Source: [Salesforce four-for-one stock split](https://www.sec.gov/Archives/edgar/data/1108524/000119312513119676/d508364dex991.htm) Source location: March 21, 2013 release: split-adjusted trading April 18, 2013. ### ipo — IPO offer price · $11 Starting price: 11 USD per starting share Starting date or context: IPO · 2004-06-23 Base conversion: 1 common-share equivalents per starting share, before dated public splits Starts at the public offering, not a private funding round. Uses the original offer price and the share adjustments documented below. Public trading begins: 2004-06-23 Supported ending dates begin: 2004-06-23 Share basis reviewed through: 2013-04-18 The ending share price and its date must be supplied by the user. Formula: amount ÷ 11 × (1) × applicable dated public splits × ending share price. Source: [Salesforce final 2004 IPO prospectus](https://www.sec.gov/Archives/edgar/data/1108524/000119312504107098/d424b1.htm) Source location: Cover; preferred-stock financing history and conversion; Series A–D issuances. Source: [Salesforce four-for-one stock split](https://www.sec.gov/Archives/edgar/data/1108524/000119312513119676/d508364dex991.htm) Source location: March 21, 2013 release: split-adjusted trading April 18, 2013. ## Later share adjustments 2013-04-18: multiply share units by 4. Source: [Salesforce four-for-one stock split](https://www.sec.gov/Archives/edgar/data/1108524/000119312513119676/d508364dex991.htm) Source location: March 21, 2013 release: split-adjusted trading April 18, 2013. No separate share-class distribution is modeled. ## Coverage gaps and limitations - Private investment access, allocations and minimum investment amounts are not established by these records. - Results exclude dividends, fees, taxes and other distributions; they are illustrative share values, not realized proceeds. Entered prices and later-date share-basis assumptions are unverified. Excludes fees, taxes, dividends, warrants and other distributions; fractional shares are illustrative. Historical investor allocations, minimums and selling rights are not established. Methodology: https://capitaltimemachine.com/methodology Research terms: https://capitaltimemachine.com/terms