Marc Benioff, the cofounder of Salesforce, will not be involved in day-to-day operations for the magazine, which will maintain its executive leadership. 2014 Tim MosenfelderMarc Benioff, the billionaire cofounder of cloud computing software firm Salesforce, and his wife, Lynne Benioff, are purchasing Time magazine from Meredith Corp. for $190 million. The sale, which Meredith announced on Sunday, comes just eight months after Meredith completed its $2.8 billion purchase of magazine firm Time Inc. It will be up to Benioff to continue to steer Time in a direction suited for today’s digital media landscape. These include cyber security software company Illumio, which has been valued at over $1 billion, real estate app Compass and hotel software firm Duetto.

Source: Forbes September 17, 2018 01:30 UTC