Salesforce is buying a startup by Facebook's former CTO for $750 million

Bret-Taylor-QuipQuipBret Taylor, co-founder of Quip

Salesforce is buying Quip, the productivity app founded by Facebook’s former CTO, Bret Taylor.

TechCrunch is reporting the acquisition price at $750 million, with a Salesforce filing noting that “Quip capital stock with an aggregate value of approximately $582 million not including consideration attributable to Salesforce Ventures’ existing investment in Quip.

In the four years since founding Quip, Taylor had raised $45 million. The app allows users to create and edit documents online with a real-time commenting system.

“As part of Salesforce, we will be able to expand our service more quickly and reach millions of people all over the world — which has been our mission since day one,” the company writes in its official blog post on the news. “And, we’ll be able to extend the Salesforce Customer Success Platform in powerful new ways with our next-generation productivity capabilities. The possibilities of mixing data, content and communication are amazing.”

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