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Enterprise communication application Slack is reportedly in talks with investors to fuel a massive, $500 million fundraiser. There is nothing official on the matter yet but, rumor is that the company plans to use the money in a bid to fuel its growth and snag more corporate clients. After all, those days when Slack was the only major player in the corporate communication space are long on and the company finds itself surrounded by heavyweight competitors from all side.
With that said, it is now a very crucial time for the company as it battles competitors to grab the attention of major enterprises looking or an all in one communication solution for their organization. There were also reports that Amazon wanted to acquire the company for as much as a massive $9 Billion.
Now we know that Amazon has not acquired Slack — yet. However, the fact that the company’s valuation is continuing to rise and has reached such massive proportions is a clear indication that it must be doing something right.
And Slack has actually been doing quite well. The company has managed to maintain a balance between catering to the whims of large organizations and creating solutions that solve their communication woes and ensuring that its app remains clutter free. After all, one of the most engaging things about Slack is its clean, minimalist and no-nonsense interface.
The company currently has around 5 million daily active users and 1.5 million paying customers. Thanks to these, it has managed to garner almost $1 Billion in revenue however, it has yet to be profitable. However, there is no doubt that it has come a long way. The company’s previous fundraising came in April, last year when it raised $200 million at a valuation of $3.8 Billion. A year later, it is being valued at $9 billion. That is certainly some growth.
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