Series A
$517,000 reported gross$0.02
25,850,000 preferred shares sold at $0.02. The prospectus reports gross consideration; D also involved warrants excluded from this model.
Enterprise software · CRM
Salesforce
Salesforce’s IPO filing documents Series A through D share prices, share counts and proceeds, making it a strong private-to-public comparison.
01 / YOUR SCENARIO
Choose your starting point.
Starting price: $0.02 · April 1999
1 CRM share equivalents per starting share at your ending date.
DOCUMENTED PRIVATE PRICE → IPO OFFER PRICE
SalesforceCRM · Series A · $0.02
Hypothetical price-only value of $1,000.00
$550,000.00April 1999 → 2004-06-23
550×Price multiple
$549,000.00Gain / loss
50000.00000000 CRM share equivalents · ending price $11
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.
Formula: amount ÷ $0.02 × 1 × CRM ending price.
Salesforce final 2004 IPO prospectus ↗Salesforce four-for-one stock split ↗Illustrative paper value; no sale or access to a historical investment is assumed. Excludes fees, taxes, cash dividends, warrants and other distributions; fractional shares assumed. The IPO mark does not assume an executable sale.
THE STORY & THE EVIDENCE
Salesforce: before the public market.
Salesforce’s IPO filing documents Series A through D share prices, share counts and proceeds, making it a strong private-to-public comparison.
IPO6 sourced milestones5 documented share scenarios
- Private preferred financing
- Private preferred financing
Series B
$3,776,504 reported gross$0.30
12,588,345 preferred shares sold at $0.30. The prospectus reports gross consideration; D also involved warrants excluded from this model.
- Private preferred financing
Series C
$13,171,620 reported gross$1.75
7,526,640 preferred shares sold at $1.75. The prospectus reports gross consideration; D also involved warrants excluded from this model.
- Private preferred financing
Series D
$46,910,910 reported gross$3.89
12,059,360 preferred shares sold at $3.89. The prospectus reports gross consideration; D also involved warrants excluded from this model.
- IPO
Salesforce goes public
$110 million gross$11
10 million shares at $11 represented $110 million of gross IPO proceeds, before underwriting and expenses.
- Share basis
Four-for-one split
One IPO share becomes four shares on the split-adjusted trading basis.
What the records do not establish
- 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.
Research reviewed 2026-09-24. Selected public records, not a complete private cap table. An undisclosed price is left unknown.
Open this company’s sourced data (JSON) ↗
Source documents & filing locations
Salesforce final 2004 IPO prospectus ↗
Cover; preferred-stock financing history and conversion; Series A–D issuances.
Salesforce four-for-one stock split ↗
March 21, 2013 release: split-adjusted trading April 18, 2013.