Bucking a Trend, Growth Continues for Slack Technologies Inc.

Recall that Slack was the subject of an article in the Los Angeles Times in February, which noted in part that, “Just two years in, and Slack has raised $340 million in venture capital, boosted its head count to 369 and snagged 2.3 million daily active users, 675,000 of which pay for the service.”

Deborah Gage, writing in Saturday’s Wall Street Journal, reported that, “Slack Technologies Inc. is bucking a trend of faltering Silicon Valley startups.

“As startups go, Slack has ridden a meteoric rise by attracting legions of people who message one another at work. The company, whose app is used in large part by businesses to exchange messages and share files, has raised $200 million at a post-money valuation of $3.8 billion.”

The Journal article explained that, “The number of Slack users has also grown, from 500,000 users of its free service in February 2015 to more than 2.7 million. The company has 800,000 paid users. Slack tries to hook workers on its free service and then persuade their bosses to pay for a version with more features.”

Saturday’s article added that, “Slack‚Äôs goal now is to turn its software into a platform that integrates so much other software that workers will want to spend their entire day there. To stoke that mission, Slack in December announced an $80 million investment fund for developers to build apps that integrate with Slack.”

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