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Salesforce buys word processing app Quip for $750M

ICE Graveyard 1/08/2016 Ingrid Lunden

Salesforce is continuing its buying spree to expand the services that it offers to its customers. The company has just announced that it is acquiring Quip, the cloud-based word processing app that was co-founded by Bret Taylor, formerly CTO of Facebook. We understand that the price is in the region of $750 million.

Salesforce’s 8-K notes “Quip capital stock with an aggregate value of approximately $582 million not including consideration attributable to Salesforce Ventures’ existing investment in Quip.”

More to come.

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