Features of our products including fees and charges are outlined in the relevant legal documents available on our website. Slack investors won’t want to sell for less than a good premium on the pre-pop per-share price, which now feels rather dated.Trade Responsibly: Derivative products are highly leveraged, carry a high level of risk and are not suitable for all investors. The question at this juncture comes down to price.
SLACK STOCK SOFTWARE
And Salesforce, a sometimes Microsoft ally, would not mind adding the faster-growing Slack to its own expanding software income. Teams challenges Slack’s chat tooling and Zoom’s video features and has seen huge customer growth in recent quarters.įinding Slack a corporate home amongst the larger tech players could ensure that Microsoft doesn’t grind it under the bulk of its enterprise software sales leviathan. That’s because Slack has come under withering fire from Microsoft in recent quarters, as the Redmond-based software giant poured resources into its competing Teams service. He added that it would be a way to stick it to former-friend-turned-foe Microsoft. “Slack could be a good candidate to strengthen its platform, but more importantly account for more usage and ‘stickiness’ of Salesforce products - as collaboration not only matters for CRM, but also for the vendor’s growing platform,” Mueller said. What’s more, Holger Mueller, an analyst at Constellation Research says it would give Salesforce a sticky revenue source, something they are constantly searching for to keep their revenue engine rumbling along. While it can theoretically do that now, if the two were combined, you can be sure the integrations would be much tighter.
It would allow companies to work both inside and outside the Salesforce ecosystem, building smooth and integrated workflows. It enables companies to embed workflows, and this would fit well in the Salesforce family of products, which spans sales, service, marketing and more. Buying Slack would give the CRM giant solid enterprise chat footing and likely a lot of synergy among customers and tooling.īut Slack has always been more than a mere chat client. While Salesforce bought Quip for $750 million in 2016, which gave it a kind of document sharing and collaboration, Salesforce Chatter has been the only social tool in the company’s arsenal.
SLACK STOCK UPDATE
We’ll update this post with whatever we get. TechCrunch reached out to Salesforce, Slack and Slack’s CEO for comment on the deal’s possibility. Slack’s earnings detail how COVID-19 is both a help and a hindrance to cloud growth Slack has wide marketshare inside of fast-growing startups, for example, while Salesforce’s products roost inside a host of megacorps. This includes the possibility of cross-selling the two companies products’ into each others customer bases, possibly unlocking growth for both parties. Why Salesforce, a massive software company with a strong position in the CRM market, and aspirations of becoming an even larger platform player, would want to buy Slack is not immediately clear though there are possible benefits. Investors in the San Francisco-based SaaS pioneer were either unimpressed at the combination idea, or perhaps worried about the price that would be required to bring the 2019 IPO into their fold. Inversely, shares of Salesforce are trading lower on the news, falling around 3.5% as of the time of writing. The well-known former unicorn has been worth as little as $15.10 per share inside the last year and worth as much as $40.07. Slack is worth $36.95 per share as of the time of writing, valuing it at around $20.8 billion. Slack shares are up just under 25% at the moment, according to Yahoo Finance data. News that Salesforce is interested in buying Slack, the popular workplace chat company, sent shares of the smaller firm sharply higher today.
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