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.