Salesforce buys word processing app Quip

Quip, a provider of cloud-based word processing tools, has been acquired by Salesforce.com. The purchase price is $582 million, not including Salesforce Ventures’ existing stake in the company. San Francisco-based Quip previously raised $45 million in venture funding. (Disclosure: Salesforce is an investor in CrunchBase.)

Quip + Salesforce = Big News
Quip is a living document platform that combines docs, spreadsheets, and communication all in one to help teams get work done faster and smarter. Enabling a frictionless workflow for creating and iterating on living documents, Quip was built for the way people work today — across a variety of devices and locations. Quip’s simple interface combines documents and messages into a single chat-like “thread” of updates, making collaboration immediate and easy. Quip lets you work with people, not files. Some of Quip’s customers include Facebook, New Relic, Instacart, Al Jazeera, Product Hunt, and Pinterest, among others.

Quip was founded in 2012 by Bret Taylor and Kevin Gibbs. Bret and Kevin have created and worked on some of the world’s most widely-used tech products, including Google Maps, Google App Engine and Facebook. Quip is headquartered in San Francisco, CA.

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