Slack just raised a whopping $427 million to become a $7.1 billion company. Now, it has to defeat Microsoft
Business Insider
Published Aug 21, 2018 09:00AM ET
Updated Aug 21, 2018 09:49AM ET
- Slack, the very popular work chat app, has raised $427 million in venture capital, at a valuation of "more than $7.1 billion."
- All told, Slack has raised about $1.27 billion in venture capital — including in a $250 million mega-round led by Softbank in the September of 2017, which gave it a $5 billion valuation at the time.
- This valuation would make it that much more expensive for a larger tech company to buy it, and thus, at least a little less likely. But it's also been coy about a potential IPO, raising questions about the master plan.
- All the while, Microsoft (NASDAQ:MSFT) has been reinforcing Microsoft Teams, its own work chat product.
Slack, the work chat app that's become a poster child for Silicon Valley startup success, is on something of a hot streak.
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Written By: Business Insider
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