Out with the Exxon. In with the ecosystem. That’s what’s going on with the Dow Jones Industrial Average, which has announced plans to swap out three stocks, including replacing Exxon Mobil Corp. with Salesforce.com.
It’s only one stock index, but the Dow is shorthand for big business. The 30 component stocks that make up the DJIA are all large-cap, blue-chip stocks generally known for growth and for being representative of their respective sectors… Exxon Mobil – which has been part of the DJIA in one form or another since 1928 – is now giving way to Salesforce.com… it’s interesting to note that S&P Dow Jones sees Salesforce as an example of the “new type of business” dominating the U.S. economy.
Many market watchers see Salesforce as a software provider. But dig deeper and it becomes apparent that the company reflects a platform model – with cloud services as a key underpinning – that goes well beyond the confines of the gig economy and, say, Uber.
And although the company’s stock ticker is CRM, the company has grown past its earlier incarnation as a firm focused on customer relationship management (CRM)… The company has also struck a number of partnerships and grown product lines to touch on commerce (specifically B2C and B2B commerce). For example, Salesforce offers a platform that provides end users with templates, commerce APIs and developer tools to bring commerce to apps, social media and elsewhere…