When new members joined the team, they were cut off from the rich history of communication that occurred before they arrived. It created fragmented silos of inaccessible information, hidden in individual inboxes. Here's a blurb from Slack's S-1 filing outlining the company's mission statement in replacing email as the primary mode of office communication: Slack was originally built on the idea that modern enterprises need a better tool than email to work. Let's review all the information we know about Slack so far in preparation for the IPO. However, it's clear that Slack's IPO will be one of the blockbuster public offerings of the year, and one that's sure to draw plenty of investor hype. Slack has yet to set its initial pricing ranges, so it's too early to set a long/short recommendation on this upcoming IPO. Slack funding timeline Source: Crunchbase Here's a look at Slack's funding timeline and lead investors, courtesy of Crunchbase:įigur 2. In recent private market transactions, however, Slack is reported to have changed hands at a valuation of $17 billion. Since this first round, Slack has raised a total of $1.2 billion through its Series H round, and its last reported private valuation was $7.1 billion. By contrast, Stewart Butterfield, the company's founder and CEO, owns just under 9% - nevertheless, that stake would still make him a billionaire post-IPO). It raised its first seed round of just $1.5 million in early 2009, led by Accel (which is Slack's biggest shareholder, with a whopping 24% stake in the company. Slack timeline Source: Slack S-1 filingĪlso good to understand is Slack's history of VC funding.

See Slack's timeline below, taken from its S-1 filing:įigure 1. Since then, it has grown into a multinational enterprise software giant and a category-leading application within the collaboration and workflow segments. It's also worthwhile to note that Slack is a relatively young technology company, having only publicly launched in February 2014. For comparison, Box ( BOX) - another enterprise software titan which is hovering around the half-billion annual revenue run rate - has seen its growth rates dip to the ~20% range. Slack clocked revenues of just over $400 million last year, yet its pace of revenue growth is almost 2x. What is most impressive about Slack, needless to say, is its incredible growth rate. Slack is primarily an enterprise software company - though it certainly sells to smaller teams and startups, the lion's share of its revenues is concentrated among major blue-chip corporations, including IBM ( IBM) and Autodesk ( ADSK). The company was built on an idea that email was static and outdated, and that modern teams needed a more agile chat and collaboration tool in order to work effectively together. Alongside names like Uber and Airbnb, Slack's IPO has long been one of the most-awaited public offerings among unicorns, and in late April, the company finally filed its S-1 registration documents. Having been backed years before its public launch by venerable titans of the VC world including Andreessen Horowitz and Accel Partners, Slack's success was more or less a self-fulfilling prophecy. Therefore, Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.Even from its earliest days, Slack Technologies ( SK) was almost marked as an instant success. All CFDs (stocks, indexes, futures) and Forex and cryptocurrency prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. Before deciding to trade foreign exchange or any other financial instrument or cryptocurrencies you should carefully consider your investment objectives, level of experience, and risk appetite.

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