Stock Advisor launched in February of 2002. From Fortune 100 companies to corner markets, millions of people around the world use Slack to connect their teams, unify their systems, and drive their business forward. Let's conquer your financial goals together...faster. [6], Outside its headquarters in San Francisco, California, Slack operates offices in Dublin, Vancouver, New York City, Toronto, Denver, London, Tokyo, Pune, Paris, Istanbul and Melbourne. It's an acronym and stands for "Searchable Log of All Communication and Knowledge.".

All that employee communication turns Slack into a knowledge repository for a business, which means companies can't switch to a competitor without losing the accumulated, easily accessible knowledge. [37] On January 16, 2019, Slack announced the launch of the company's new logo.[38]. Most people would describe it as a messaging service, but it does so much more. The companies also announced a commitment to work on integration of Slack with Atlassian services. The workplace messaging service is the hot enterprise software solution and one of the most anticipated 2019 stock market debuts. [28] In September 2017, Slack raised $250 million, the majority of which came from Softbank's Vision Fund, with about 45% of that, or $112.5 million, originally from the Public Investment Fund of Saudi Arabia. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.

Right now, over 600,000 organizations use Slack, including 88,000 paying customers. See you at the top! The gameplay was described as "players must learn how to find and grow resources, identify and build community and, at the higher levels of the game, proselytize to those around them".

Market data powered by FactSet and Web Financial Group. According to The Wall Street Journal, sources indicated the company would pursue a Direct Listing Process (DLP) instead of the traditional IPO. [10] A Series B round of $10.7 million was raised in 2011.

[41] Slack also reported losses of $138.9 million for the fiscal year ending in January 2019. [46] Its stock, ticker WORK, started trading on June 20, 2019.

The core team is largely drawn from the founders of Ludicorp, the company that created Flickr.

The workplace messaging service is the hot enterprise software solution and one of the most anticipated 2019 stock market debuts. Fool.com's Tech & Consumer Goods Bureau Chief and host of the Motley Fool's weekly Tech Industry Focus podcast.

So far, the company has thrived by creating its own category of communication, but as it gets bigger, the competitive heat might turn up. Bye! [17] After the launch of Slack, the company renamed itself to Slack Technologies in August 2014. Instead of the siloed approach that email offers, Slack allows new teammates to access information that was added before they joined on.

[49], This article is about the company.

[36] In November 2018, Slack was recognized in Credit Suisse AG's inaugural Disruptive Technology Recognition (DTR) Program, an annual recognition of five top companies who are disrupting traditional enterprise information technology. On December 11, 2018, it was reported that Slack was considering a direct public listing. [40][42] On February 4, 2019, several media news outlets reported that Slack had filed for taking the company public. Returns as of 10/17/2020. Here's Why Everybody's Talking About It", "Slack is work chat's runaway train, raises $200M at $3.8B", "Silicon Valley wrestles with Saudi Arabia ties", "Slack Raises $250 million; Tops $5 Billion Valuation", "Slack names Allen Shim as company's first CFO", "Slack forms key alliance as Atlassian throws in the towel on enterprise chat", "Slack buys HipChat with plans to shut it down and migrate users to its chat service", "Atlassian's HipChat and Stride to be discontinued, with Slack buying up the IP", "Slack Actively Preparing for Early 2019 IPO", "Credit Suisse AG Announces the Disruptive Technology Recognition Program", "Slack files to go public with an unusual approach", "What You Need To Know About The Slack IPO", "Slack files to go public, revealing $400 million in revenue and $139 million in losses", "Slack Files Confidentially to Go Public With Direct Listing", "Slack confidentially files to go public", "Slack files to go public, reports $138.9M in losses on revenue of $400.6M", "Slack Services Partners To Help Vendor Target Enterprises", "Slack skyrockets 21% after making IBM its biggest account yet (WORK)", "Slack Accuses Microsoft of Illegally Crushing Competition", https://en.wikipedia.org/w/index.php?title=Slack_Technologies&oldid=983922153, Companies listed on the New York Stock Exchange, Software companies based in the San Francisco Bay Area, Video game companies of the United States, Short description is different from Wikidata, Official website different in Wikidata and Wikipedia, Creative Commons Attribution-ShareAlike License, This page was last edited on 17 October 2020, at 02:05. Slack is the collaboration hub that brings the right people, information, and tools together to get work done. [29][30] This round put Slack's total fundraising at $841 million and its valuation at $5.1 billion (including cash raised). After the closure of Glitch, the company launched the Slack real-time collaboration app and platform, raising $17 million in funding from Andreessen Horowitz, Accel and Social Capital. The company raised $42.75 million in April 2014. Founded in 2014, the company has just gone public on the New York Stock Exchange through a direct listing, instead of undergoing the more standard IPO process.

All those metrics point to the fact that users like Slack, and the more they use the service, the stickier -- or harder to leave -- it becomes. We're now Slack Technologies, Inc. See @SlackHQ. [31] In early 2018, Slack announced the company's first CFO, Allen Shim. ‘[With Slack] there’s no wasted time or wasted product because you’re able to communicate things right away.’. [7], In June 2019, Slack Technologies went public on the New York Stock Exchange via a direct stock listing. [22] In March 2015, Slack signed a deal with investors to raise up to $160 million in a funding round that valued the company at $2.76 billion. ", "Vancouver's Tiny Speck puts massively multiplayer game Glitch online", "Glitch 'unlaunches' to add new features - Massively", "Flickr Co-Founder Stewart Butterfield Turns to Workplace Communication Tools With Slack", "Tiny Speck is no more. Slack is a young company, but it's already made a big splash. It's free with limited functionality for small organizations. When you visit any website, it may store or retrieve information on your browser, mostly in the form of cookies.

[21] Earlier investors Andreessen Horowitz, Accel Partners and The Social+Capital Partnership also participated in this round. Narrator: Slack has taken company communications by storm -- but a lot of people still don't really understand what it is or why investors are so interested in the business.

The staff at the company that would eventually become Slack couldn't find an enterprise communication tool that fit the needs of their business, so they decided to build their own. Two teammates having a conversation in a channel, Screenshots of Slack channels for teams, projects and announcements, ‘I help to bring product from the wild to the kitchen, and all across the dining room’, Koseba explains. Looking at the financials, the story seems to make sense. [23], In April 2015, the company raised another $160 million. For software they produce, see, "Tiny Speck Finds More Than a Glitch and Closes Game for Good", "Slack's Co-Founders Take Home The Crunchie For Founder Of The Year", "Flickr Co-Founder Butterfield Talks About His New Game startup, Glitch", "Slack Just Went Public and the Stock Is Trading Well Above Expectations", "Q&A with Stewart Butterfield on the launch of Glitch", "Stewart Butterfield's Tiny Speck Raises 5 Million from VCs", http://www.crunchbase.com/company/tiny-speck, "A Flickr Founder's Glitch: Can A Game That Wants You To Play Nice Be A Blockbuster? © Copyright 2020 Slack Technologies, Inc. All rights reserved. The company posted 87% gross margins in its last fiscal year, a sign that down the road the business could print cash for investors. [11], Tiny Speck's first product was a computer game called Glitch—a social MMORPG with highly stylized 2D graphics. [16], In November 2012, it was announced that Glitch would be closed, effective December 9, 2012.[2]. [25], In April 2016, Slack raised another $200 million, led by Thrive Capital, with participation by GGV, Comcast Ventures and existing investors, including Accel, Index Ventures and Social Capital.

[19] Slack had been an internal tool used for the development of Glitch. Slack Technologies, Inc. is engaged in offering Slack, a team communication tool. That’s why we made Slack – a place where people get work done, together. Slack Technologies, Inc. is an American international software company founded in 2009 in Vancouver, British Columbia, Canada. With Slack, users can share files, create project-based channels, and easily communicate with teammates around the globe. [32], On July 26, 2018, Atlassian announced the shutdown of its competing HipChat and Stride effective February 11, 2019, and the sale of their intellectual property to Slack. And they’re more than conversations – you can make calls, share files and even connect with other apps. Software is generally high margin, and Slack is no exception. Slack's fast growth and sizable addressable market are two big reasons why investors have been eyeing the company. In this video from our YouTube channel, we break down how Slack started, the meaning behind the seemingly strange company name, and the numbers that matter for the business and investors.

In this video, we break down Slack and explain why some think it's the future of enterprise software. Cumulative Growth of a $10,000 Investment in Stock Advisor, What Is Slack? Slack is a new way to communicate with your team. New investors include Institutional Venture Partners, Horizons Ventures, Index Ventures and DST Global.

[33] Slack was to pay an undisclosed amount over three years to assume the user bases of the services, and Atlassian was to take a minority investment in Slack.

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