Kudos to Slack! Slack is now worth $3.8 billion after bagging another round of $200 million. There had been rumors about it raising that amount of money, but now it’s finally official!
Thrive Capital led the round. Other participants included Comcast Ventures, Accel Partners, GGV, Index Ventures, Social Capital and Spark Growth.
The company has raised $540 million in total so far. Last time it raised funding was about a year ago, they made a $160 million round at a $2.8 billion valuation.
San Francisco-based Slack is proud to tell about its User base. According it them, it now has about 2.7 million active users on daily basis, 800,000 users use paid services, and 430 employees. Some of the prestigious customers include the Federal Aviation Administration, CenturyLink, CBS, Harvard University, Dow Jones, the U.S. State Department and Samsung.
Only 2 years old, Slack is a very popular and easy to use chat and communication program for businesses (available on multiple platforms, including the Windows). It allows people to send messages and create private group channels at work for effective and in time communication.
How does it make money? It makes money through subscriptions – monthly or annually. They are hoping to generate $64 million in revenue by the end of this year. Good luck!
Slack is on it’s way to replace email as the main source of business communication. The officials are hopeful that in near future, the email communication for businesses will stop since it’s less efficient then simply messaging and always staying connected. They even conducted a survey and the results are looking positive and Slack has reduced the business email communication by almost 50%.
“As has always been the case, we are taking this opportunity to further secure our leadership position as we continue to execute on our ambitious growth plans. This capital adds to our existing reserves and increases our ability to focus on an uncompromising long-term, strategic view,” Slack CEO Stewart Butterfield said in a statement.