8.7. Play #96: Be Innovative and Edgy in Everything You Do—Except When It Comes to Your Finances
It was always our goal for salesforce.com to go public. Most companies go public to raise cash, which they use to expand, acquire companies, or retire debt, but this was not our impetus. First and foremost, we wanted credibility. We had built the SaaS industry, and now we wanted to be the first SaaS company to go public.
An IPO would market—and endorse—our service, our company, and our industry. It's like a Good Housekeeping seal of approval for companies, and the trust it instills can help retain talent, recruit leaders, expand business relationships, and reassure customers.
Steve's suggestion to trade on the NYSE went hand in hand with this reasoning. ...