Slack Is Raising $400M+ With A Post-Money Valuation Of $7 Billion

Slack which is an app that helps the coworkers and some of the other professionals of the community to chat with each other and call in data from thousands of integrated app in the name of getting more inputs and to increase productivity, has seen a lots of growth in the past few years, now the app has passed the 8 million daily active user and 3 million of them paying. And now the company is planning to increases the fund for that with having some more funding.

According to a report which has been revealed it is shown that time Slack is looking to raise around $400 million or more with having the post valuation of at least $7 billion with the whop of adding $2 billion on the top of the company with having the last valuation in the year 2017 when the SoftBank led a $250 million round of fund with a valuation of $5.1 billion.

There is also a rumor that a new investor General Atlanic is leading this round of funding with a new backer Dragoneer in the mix as well. It is still not clear that which other investor might be involved in the participation. The company has also counted more than 41 backers on its cap table already according to a report.

With a funding of $400 million, this would make the slack, its biggest round to date.

First of all, it will point to the existing opportunity in the world of Messaging. With the Instant Messaging app like Whatsapp topping 1.5 billion users and still there is a plenty of hope to increase messaging to grow.

Secondly, the valuation and round also emphasize Slack Position as a pioneer in this area. Apart from that there are many other social media networking apps before slack founded in the year 2013 like HipChat, yammer and Socialcast one among them. “Things have been going crazy”, was how co-founder and CEO Stewart Butterfield described it to me when Slack exited beta: teams trialling it were seeing usage from “every single team member, every day.”

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