Slack Valued at $5.1B After SoftBank-led Round

Isaac Cain
September 19, 2017

SoftBank's Vision Fund invested Dollars 250 million into Slack Technologies Inc. which saw its valuation soar up to USD 5.1 billion.

Stewart Butterfield, Chief Executive Officer of Slack told FT, "Slack is growing at an annual rate of more than 100 per cent".

It has also integrated many third-party services including Dropbox, Google Drive, Trello, GitHub and more.

"Slack is the operating system for today's fast-moving businesses, enabling teams to work together effectively at a time when businesses need to be responsive to rapid change and disruption", Deep Nishar, senior managing partner at the SoftBank Vision Fund, said in a statement sent to CNBC on Monday.

The firm, founded in 2009, says it has not spent all the money it raised in previous rounds and did not raise the fresh capital to spend it. In total, Slack has raised $841 million from investors.

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During 2016, Slack appeared to receive a great deal of interest as a possible acquisition target of Microsoft said to be considering acquiring it, which sources said would have carried a valuation of $8 billion.

- $200M (Series F) from Thrive Capital, etc. The last time Slack raised funds, in April a year ago, it was reportedly valued at $3.8 billion.

Slack began as an internal tool used at the company Tiny Speck, which was developing the now-defunct online game Glitch.

Because channels can be joined with a URL, some organizations and informal group post links as open invitations to social media.

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