Over the past two decades, Salesforce modernized the customer relationship management (CRM) business by replacing Rolodexes and desktop-based software with cloud-based services. That approach enabled companies to maintain consistent records, compartmentalize and analyze each customer, and scale their businesses more easily.

Between fiscal 2003 and fiscal 2023 (which ended this January), Salesforce's revenue soared from $51 million to $31.4 billion, representing a compound annual growth rate (CAGR) of 38%. Its stock has risen 5,200% over the past 20 years.

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Source Fool.com