Inside Salesforce’s $100 Billion M&A Playbook | John Somorjai

What makes a startup worth acquiring when software has never been easier to build? Salesforce’s John Somorjai says the answer goes well beyond technology: the best acquisitions can accelerate a product roadmap, bring in exceptional talent, and put a startup in front of 15,000 Salesforce sales reps almost overnight. John joins a16z General Partner Alex Immerman to unpack the thinking behind nearly $100 billion in acquisitions during his tenure, from Slack and MuleSoft to a new generation of AI-native companies. They discuss Salesforce’s build-versus-buy framework, why outcome-based pricing is replacing seats in parts of enterprise software, and what founders should consider when deciding whether to sell. John also shares what can kill a deal during diligence, why he thinks parts of today’s venture market are overvalued, and how Salesforce Ventures is expanding from enterprise software into frontier AI and robotics.