The software firm, valued at US$230 billion, is reportedly exploring the purchase of the instant-messaging platform, in a deal that is likely to price Slack at more than its market value of US$17 billion. The companies reportedly could reach a deal within days, although there is still no guarantee one will come together. Slack shares soared as much as 36 per cent on the news Wednesday. (The Wall Street Journal)
Skip to content
The software firm, valued at US$230 billion, is reportedly exploring the purchase of the instant-messaging platform, in a deal that is likely to price Slack at more than its market value of US$17 billion. The companies reportedly could reach a deal within days, although there is still no guarantee one will come together. Slack shares soared as much as 36 per cent on the news Wednesday. (The Wall Street Journal)
Talking point: Co-founded by CEO (and B.C. native) Stewart Butterfield, Slack has long been a more popular office-messaging platform amongst startups than competitor Microsoft Teams. In fact, nearly 60 per cent of startups pay for Slack’s software, according to data from accounting firm Kruze Consulting, while just 12 per cent pay for a Microsoft Office bundle. Slack’s growth has accelerated during the pandemic, and its adoption has become more mainstream due to the rise in remote work. The company had more than 130,000 paid customers as of September 30, a 30 per cent increase from the previous year. Its stock price has doubled since an early March low of approximately US$19.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
Analysis
These AI startups are making millions with tiny teams
Briefing
Supply-chain management vendor Kinaxis reports revenue jump and higher profit
Flush with cash, Suncor Energy boosts share buybacks—but doesn’t rule out production growth
Goodfood seeks creditor protection as it tries to sell itself
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
