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ANTI-SALESFORCE C3 AI GOING PUBLIC Featured

 

C3 AI, led by industry CRM vendor Tom Siebel, has filed to go public. The company, which utilizes technology from Microsoft and Adobe Systems, is picturing its AI-based technology as superior to that provided by market leader Salesforce.com.

Siebel has been quoted as calling the Salesforce product as being “all marketing and very little technology.” The size of the offering has not been determined, except that the form S-1 filed with the SEC shows the maximum as $100 million. C3 AI lost slightly less than $69 million for the year ended April 30, more than double $33.3 million the prior year. Revenue for fiscal 2020 was $156.7 million, increase of 68 percent from $91.6 million for fiscal 2019. C3 AI is a company with Class A and Class B stock with Siebel and related entities control the Class B shares which has 50 votes per share and will continue to control the company after the offering. The technology driving the company’s products are Microsoft Dynamics 365, the Adobe Experience Cloud  and C3.ai’s data and AI models.

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