Why Minneapolis?

SalesForce.com Inc. CEO Marc Benioff recently offered a response to a question about why the software giant isn’t expanding into more emerging markets overseas.

In a Feb. 23 earnings call, Benioff said he sees more opportunities in smaller U.S. markets than he does in regions abroad. He highlighted Minneapolis in the response — even going so far as to call the city an “emerging country.”

From the call:

“You know, I get questions all the time from our board, … ‘what are you doing about this emerging country or that emerging country?’ We really look at an emerging country like Minneapolis — to us, that’s an emerging country, because the Minneapolis software market is bigger than Brazil.

We’re asking ourselves, what are we doing in Minneapolis? That’s why I just was in Minneapolis. That’s why I just did a seminar in Minneapolis. That’s why I’m working so closely with customers in  Minneapolis, because that is actually a major software market.”

Benioff said less than 10 markets worldwide make up 85-95 percent of the global software market. This isn’t the first time Benioff has brought up Minneapolis in an earnings call. In August, Benioff said he expected between 200 and 300 people to attend a SalesForce.com seminar and 1,000
showed up. He said he was surprised because Minneapolis is “not exactly a city known for large crowds showing up for technology events.”

Another reason why you should put multiple reps in Minneapolis: 16 of the “World’s Biggest Public Cos.” Are Based in MN and that is not including one of the world’s private companies, Cargill which has revenue exceeding 110 Billion.

UnitedHealth Group (105th), $101.9 billion

U.S. Bancorp (122nd), $21.4 billion

Target (159th), $69.9 billion

3M (193rd), $29.6 billion

Medtronic (259th), $16.2 billion

General Mills (397th), $15.8 billion

Ameriprise Financial (422nd), $10.2 billion

Mosaic (465th), $11.2 billion

Best Buy (468th), $50.6 billion

Xcel Energy (554th), $10.7 billion

Ecolab (785th), $6.8 billion

St. Jude Medical (941st), $5.6 billion

C.H. Robinson Worldwide (1,067th), $10.3 billion

Hormel Foods (1,254th), $8 billion

Supervalu (1,291st), $36.5 billion

Fastenal (1,463rd), $2.8 billion