Slack Technologies, Inc. (Teams Communication Software)
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Company Basic Insights - Slack Workforce Collaboration Platform
- Stewart Butterfield
- Cal Henderson
CEO (Chief Executive Officer)
- Stewart Butterfield
Slack Country of Origin / Headquarters
- United States
Is Slack publicly traded?
- Yes. In June 2019, Slack Technologies went public on the New York Stock Exchange via a direct stock listing. Slack’s IPO started with a bang as the first trade was priced at $38.50, giving the company a $23 billion valuation, well above the expected $16 billion.
- The workplace communication collaboration platform had reportedly projected a $26 per share opening price that would have valued it at $15.7 billion. Within the first two hours of trading, the stock price surged further to $41.85.
- NYSE: WORK
- Where Work Happens
- We Bring Companies and Customers Together
Slack got acquired by Salesforce on 1 December 2020
- Salesforce acquired Slack in a mega deal for $27.7 million.
- After Corona Virus hit, the whole world started changing how they worked. Platforms like Slack saw an additional growth due to workforce becoming remote, and Slack being already the leading chat SaaS for working environments.
- Salesforce acquired Slack to stabilize itself as the leading enterprise software, more than before.
What is Slack? How does Slack make money? (Slack Business Model)
- Slack is a messaging application that allows users to collaborate via chat, phone/audio, or video. The Slack app is available via desktop as well as mobile. Slack has a lot of features which are similar to IRC, the old chat platform, including persistent chat rooms (channels) organized by topic, private groups, and direct messaging.
- Slack is mostly used by not only enterprise corporations and large business entities, but also small and medium businesses, and also startups.
- A percentage of organizations pay premiums for special features. Such features include access to an unlimited communication history, unlimited app integration, additional file storage, screen sharing, statistics, and more. With no apparent plans to run ads in the near future, Slack relies on a simple business model, charging monthly fees. The company offers three different plans. These plans are aimed at small-, medium-, and enterprise-sized businesses.
- The main portion of Slack’s revenue comes from more than a hundred of big organizations who pay mostly more than $100K USD on a monthly basis.
- Slack is used by over 600,000 businesses, startups, organizations and work teams with three or more staff/teammates/employees.
- Slack generated revenue of $400.6 million in the year ended Jan. 31, 2019.
- Unlike many competitors, Slack charges organizations only for active users, according to its fair billing policy.
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