2017

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2017A N N UA L R E PORT

Trailblazers create experiences that put customers at the center of everything.They learn from insights, innovate constantly, build trust into every touchpoint,and predict what customers want before they even ask.Thanks to you, FY2017 was another record-breaking year for Salesforce.We look forward to blazing even more new trails together in the year to come.FY17HIGHLIGHTS 8.4 billionF Y17 Revenue, up 26% year-over-year. 5.5 billionDeferred Revenue, up 29% year-over-year. 14.5 billionBilled and Unbilled Deferred Revenue,1 up 28% year-over-year. 2.2 billionFull year Operating Cash Flow, up 29% year-over-year.25,000 Employees 90%of the “Fortune 100” run at leastone app from the AppExchange.2 million Hours contributed to thecommunity since inception.“Unbilled Deferred Revenue” represents business thatis contracted but unbilled and off the balance sheet.

Fellow stockholders,Salesforce delivered another exceptional year of growth and customersuccess. We reached nearly 8.4 billion in annual revenue, achieving thatmilestone faster than any other enterprise software company. No otherenterprise software company of our size and scale is growing at this pace,and we’ve continued to balance this top line growth with improvement innon-GAAP operating margin. For fiscal 2018, we expect to surpass 10billion in revenue, on our path to 20 billion.When we started the company in 1999, we had a vision that businesseswould move to the cloud and subscription-based services. Salesforce led theindustry as the first to bring cloud, social and then mobile to CRM. Now, withour Einstein AI services, we’re once again leading companies into the future.Einstein brings artificial intelligence to the world’s #1 CRM and millions ofSalesforce users, across sales, service, marketing, commerce and more.The Salesforce Intelligent Customer Success Platform is trusted at scale bya trailblazing community of 150,000 customers, delivering tens of billionsof secure transactions every day. We have strategic relationships with manyof the largest and most successful companies in the world, including nearly400 of the Fortune 500. These companies rely on Salesforce to drive theirdigital transformations and enable them to connect with their customers inwhole new ways.Our continuous focus on innovating on behalf of customers has earnedSalesforce recognition as the “Innovator of the Decade” by Forbes. Inaddition, Fortune ranked Salesforce as the 20th “Most Admired Companyin the World” and 8th in its “100 Best Companies to Work For” rankings.Salesforce has also been named the #1 “Workplace for Giving Back”by Fortune. In partnership with Salesforce.org, we now have givenapproximately 160 million in grants, logged over 2 million employeevolunteer hours throughout the world, and more than 31,000 non-profitand higher education organizations use our service offerings for free orat a discount. We’ve proven over our 18 years that a company can do well,while also doing good in the world.I would like to extend my gratitude to our customers, partners andstockholders for their inspiration, guidance and support, and to our morethan 25,000 employees across 25 countries around world, who dedicatethemselves to delivering customer success and who embody our corevalues -- trust, growth, innovation and equality.Mahalo,

Your inspiration, drive, and supporthave made us who we are today.World’s #1 CRM PlatformSOURCE: GARTNER, 2016Innovator of the DecadeSOURCE: FORBES, 201620th Most AdmiredCompany in the WorldSOURCE: FORTUNE MAGAZINE, 20178th Best Company to Work ForSOURCE: FORTUNE MAGAZINE, 2017thank you

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM 10-K(Mark One)È Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934For the fiscal year ended January 31, 2017OR‘ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934Commission File Number: 001-32224salesforce.com, inc.(Exact name of registrant as specified in its charter)Delaware94-3320693(State or other jurisdiction ofincorporation or organization)(IRS EmployerIdentification No.)The Landmark @ One Market, Suite 300San Francisco, California 94105(Address of principal executive offices)Telephone Number (415) 901-7000(Registrant’s telephone number, including area code)Securities registered pursuant to Section 12(b) of the Act:Title of each className of each exchange on which registeredCommon Stock, par value 0.001 per shareNew York Stock Exchange, Inc.Securities registered pursuant to section 12(g) of the Act:Not applicableIndicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the SecuritiesYes È No ‘Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of Act. Yes ‘ No ÈIndicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and(2) has been subject to such filing requirements for the past 90 days: Yes È No ‘Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate Web site, if any, everyInteractive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during thepreceding 12 months (or for such shorter period that the Registrant was required to submit and post such files). Yes È No ‘Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is notcontained herein, and will not be contained, to the best of Registrant’s knowledge, in definitive proxy or information statements incorporatedby reference in Part III of this Form 10-K or any amendment to this Form 10-K. ‘Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smallerreporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of theExchange Act. (Check one):Act.Large accelerated filer ÈNon-accelerated filer ‘ (Do not check if a smaller reporting company)Accelerated filer‘Smaller reporting company ‘Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ‘ No ÈBased on the closing price of the Registrant’s Common Stock on the last business day of the Registrant’s most recently completedsecond fiscal quarter, which was July 29, 2016, the aggregate market value of its shares (based on a closing price of 81.80 per share) held bynon-affiliates was approximately 38.5 billion. Shares of the Registrant’s Common Stock held by each executive officer and director and byeach entity or person that owned 5 percent or more of the Registrant’s outstanding Common Stock were excluded in that such persons may bedeemed to be affiliates. This determination of affiliate status is not necessarily a conclusive determination for other purposes.As of January 31, 2017, there were approximately 707.5 million shares of the Registrant’s Common Stock outstanding.DOCUMENTS INCORPORATED BY REFERENCEPortions of the Registrant’s definitive proxy statement for its 2017 Annual Meeting of Stockholders (the “Proxy Statement”), to be filedwithin 120 days of the Registrant’s fiscal year ended January 31, 2017, are incorporated by reference in Parts II and III of this Report onForm 10-K. Except with respect to information specifically incorporated by reference in this Form 10-K, the Proxy Statement is not deemedto be filed as part of this Form 10-K.

salesforce.com, inc.INDEXPage No.PART IBusiness . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Risk Factors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Unresolved Staff Comments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Properties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Legal Proceedings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Mine Safety Disclosures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Executive Officers of the Registrant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3123131323232PART IIMarket for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchasesof Equity Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Item 6. Selected Financial Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations . .Item 7A. Quantitative and Qualitative Disclosures About Market Risk . . . . . . . . . . . . . . . . . . . . . . . . . .Item 8. Consolidated Financial Statements and Supplementary Data . . . . . . . . . . . . . . . . . . . . . . . . . .Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure . .Item 9A. Controls and Procedures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Item 9B. Other Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3537396265120120121Item 1.Item 1A.Item 1B.Item 2.Item 3.Item 4.Item 4A.Item 5.PART IIIItem 10. Directors, Executive Officers and Corporate Governance . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Item 11. Executive Compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Item 12. Security Ownership of Certain Beneficial Owners and Management and Related StockholderMatters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Item 13. Certain Relationships and Related Transactions and Director Independence . . . . . . . . . . . . . .Item 14. Principal Accountant Fees and Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .PART IVItem 15. Exhibits and Financial Statement Schedules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Item 16. 10-K Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Signatures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Index to Exhibits2122122122122122123124125

FORWARD-LOOKING INFORMATIONThis Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of theSecurities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of1934, as amended (the “Exchange Act”). Words such as “expects,” “anticipates,” “aims,” “projects,”“intends,” “plans,” “believes,” “estimates,” “seeks,” “assumes,” “may,” “should,” “could,” “would,”“foresees,” “forecasts,” “predicts,” “targets,” variations of such words and similar expressions are intended toidentify such forward-looking statements, which may consist of, among other things, trend analyses andstatements regarding future events, future financial performance, anticipated growth and industry prospects.These forward-looking statements are based on current expectations, estimates and forecasts, as well as thebeliefs and assumptions of our management, and are subject to risks and uncertainties that are difficult topredict, including the effect of general economic and market conditions; the impact of foreign currency exchangerate and interest rate fluctuations on our results; our business strategy and our plan to build our business,including our strategy to be the leading provider of enterprise cloud computing applications and platforms; ourinternational expansion strategy; our service performance and security; the expenses associated with new datacenters and third party infrastructure providers; additional data center capacity; real estate and office facilitiesspace; our operating results; new services and product features; our strategy of acquiring or making investmentsin complementary businesses, joint ventures, services, technologies and intellectual property rights; our ability tosuccessfully integrate acquired businesses and technologies; our ability to continue to grow and maintaindeferred revenue and unbilled deferred revenue; our ability to protect our intellectual property rights; our abilityto develop our brands; our ability to realize the benefits from strategic partnerships and investments; ourreliance on third- party hardware, software and platform providers; our dependency on the development andmaintenance of the infrastructure of the Internet; the effect of evolving government regulations, including importand export controls; the valuation of our deferred tax assets; the potential availability of additional tax assets inthe future; the impact of new accounting pronouncements, the impact of expensing stock options and other equityawards; the sufficiency of our capital resources; factors related to our outstanding convertible notes, revolvingcredit facility, term loan and loan associated with 50 Fremont; compliance with our debt covenants and capitallease obligations; and current and potential litigation involving us. These and other risks and uncertainties maycause our actual results to differ materially and adversely from those expressed in any forward-lookingstatements. Readers are directed to risks and uncertainties identified below under “Risk Factors” and elsewherein this report for additional detail regarding factors that may cause actual results to be different than thoseexpressed in our forward-looking statements. Except as required by law, we undertake no obligation to revise orupdate publicly any forward-looking statements for any reason.PART IITEM 1.BUSINESSOverviewSalesforce is a leading provider of enterprise software, delivered through the cloud, with a focus oncustomer relationship management, or CRM. We introduced our first CRM solution in 2000, and we have sinceexpanded our service offerings into new areas and industries with new editions, features and platformcapabilities. Our core mission is to empower our customers to connect with their customers in entirely new waysthrough cloud, mobile, social, Internet of Things (“IoT”) and artificial intelligence technologies.Our service offerings are intuitive and easy to use. They can be deployed rapidly, configured easily andintegrated with other platforms and enterprise applications, or apps. We deliver our service offerings via majorinternet browsers and on leading mobile devices. We sell to businesses of all sizes and in almost every industryworldwide on a subscription basis, primarily through our direct sales efforts and also indirectly through partners.Through our platform and other developer tools, we also encourage third parties to develop additionalfunctionality and new apps that run on our platform, which are sold separately from, or in conjunction with, ourservice offerings.3

Our Customer Success Platform is a comprehensive portfolio of service offerings providing sales forceautomation, customer service and support, marketing automation, digital commerce, community management,analytics, application development, IoT integration, collaborative productivity tools and our professional cloudservices.Salesforce also believes in giving back. We pioneered, and have inspired other companies to adopt, anintegrated philanthropy model called the 1-1-1 model, which leverages 1% of a company’s equity, employeetime and product to help improve communities around the world. We also believe in equality for all, and havespearheaded initiatives to create a world where equal pay, equal advancement, equal opportunity and equal rightsbecome a reality for our employees and the broader world.We were incorporated in Delaware in February 1999. Our principal executive offices are located inSan Francisco, California, and our principal website address is www.salesforce.com. Our office address is TheLandmark @ One Market, Suite 300, San Francisco, California 94105.The Age of the CustomerAt Salesforce, we believe we are living in the single most innovative era in history, as everyone and everything becomes connected. There are now billions of mobile phones and intelligent connected devices. Andbehind each and every device, interaction, product and connected community is a customer. Companies have theopportunity to harness all of this information about customers in new and extraordinary ways, enabling them tointelligently connect and engage with customers across every part of the customer experience.Our Customer Success Platform provides a single view of the customer across all touchpoints. We bringtogether the power of cloud, mobile, social, IoT and artificial intelligence technologies, enabling our customersto harness data and deliver the connected experiences their customers are increasingly coming to expect.Our Cloud Service OfferingsOur cloud service offerings empower our customers to: grow their sales faster; deliver customer service through multiple devices and channels; create one-to-one customer journeys; personalize buying experiences across all channels; build branded communities for customers, partners and employees; deliver analytics and predictive insights for every business user; turn data generated by the IoT into meaningful actions; collaborate on documents, spreadsheets and more to improve productivity, and; develop modern mobile and desktop apps quickly and easily.Our cloud service offerings are as follows:Sales Cloud. The Sales Cloud, which was our first offering and continues to be the largest contributor tototal subscription and support revenues, enables companies to store data, monitor leads and progress,forecast opportunities, gain insights through relationship intelligence and collaborate around any sale ondesktop and mobile devices. Our customers use the Sales Cloud to grow their sales pipelines, improve salesproductivity, simplify complex business processes and close more deals. The Sales Cloud also offerssolutions for partner relationship management, including channel management and partner communities,and the ability to deliver quotes, contracts and invoices to improve forecasting and collect payments faster.4

Service Cloud. The Service Cloud, which is our second largest contributor to total subscription andsupport revenues, enables companies to deliver smarter, faster and more personalized customer serviceand support. Our customers use the Service Cloud to connect their service agents with customers anytimeand anywhere, on popular devices and across multiple channels—phone, email, chat, live video, SMS,self-service web portals, social networks, online communities and directly within their own products andmobile apps. In addition, Service Cloud also offers a field service solution that enables companies toconnect agents, dispatchers and mobile employees through one centralized platform, through which theycan schedule and dispatch work intelligently, and track and manage jobs in real-time.Marketing Cloud. The Marketing Cloud enables companies to plan, personalize and optimize one-to-onecustomer

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) È Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended January 31, 2017 OR ‘ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 001-32224

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