Slack is a workplace messaging and collaboration tool that helps make the workplace better at communicating. It has raised another huge round of funding of $250 million in their Series G funding, the round was led by SoftBank Vision Fund with Accel and a number of other interested investors. With the coming of latest investment in the company, Slack has successfully raised $841 million in total to date, making it one of the best finance business startup. With this investment, Slack is now valued at $5.1 billion after its last valuation of $3.8 billion. In previous time Slack has raised funding from other venture capital firms like GGV Capital, Spark Capital and Thrive Capital. Previously, the company was looking to raise $500 million from Amazon at the valuation of $9 billion.
Currently, slack has crossed $200 million in annual recurring revenue, and it is expecting to generate $1 billion revenues in next year. Slack is growing at a tremendous annual rate of more than 100 percent. Slack earlier said that it has more than 6 million daily active users and planning to employ around 150 employees in Dublin by the end of the year. Slack is also targeting Japan as it is the third most market for them.
“It’s a strange world. If it was 10 years ago we’d be public by now,” Mr. Butterfield, Founder of Slack. He also said, “I think we probably have a year or, at the outside a year and a half, before it’s really competitive,” when Microsoft attacked Slack for its market and business. “It’s early in their evolution but I would never discount Microsoft’s ability to put resources behind it.”
On the IPO, Mr. Butterfield said that it would be risky to go public as we are still a young company and Slack would not meet its targets over the next year. That would make it a rocky ride in the public market.
Slack introduced new features last week with the first group chat designed to reach across other companies. Fashion brand Everlane is using it to bring its shipping contractors closer into the process, says Slack. Also, Slack is now available in French, German, and Spanish, with Japanese coming soon, to meet what it says is large international demand. Let’s wait for more is coming from Slack.
If you are still not using Slack, what are you waiting for?
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