Slack is one of the fastest-growing companies, and its investment in growth is paying off just after over a year as a public company. Both stats show that more organizations connect and complete more types of works on Slack.Īs you can imagine, the more organizations join Slack Connect, the more Slack can benefit from the network effect, looking a lot more like a social network than an email killer. And as of Q2'21, more than 52 thousand organizations are using Slack Connect. Slack Connect shared channels have grown to 380K+ from 120K+, a threefold increase from FY2020. Organizations can collaborate effectively and communicate securely with multiple partners and vendors, including negotiating deals, driving investments, and building long-term relationships.Īnd the proof is in the pudding. This shows that everything can happen on Slack. It has been relatively successful - Amazon announced it would use Slack to communicate internally and externally with suppliers and retailers.
Today, Slack is trying hard to sell its vision of becoming the 'enterprise social network' to its customers. The use cases have been growing as a result of Slack partnering with and integrating into platforms of Google ( GOOG) ( GOOGL), Amazon ( AMZN), Salesforce, Atlassian ( TEAM), and Dropbox ( DBX).Īs of Q2'21, Slack has over 2,300 apps, allowing users to complete almost any type of work task. Now, users can do anything - from supporting customers, building products, coordinating sales to more complicated tasks require specialized workflows or strict compliance policy.īelow are some more use cases of real businesses. However, Slack's use cases have expanded to more than just replacing emails, allowing it to proclaim itself as a 'many-trick' pony. So, at this point, Slack is all about replacing emails, a hindrance as you try to get through mundane day-to-day tasks. Initially, the message Butterfield tried to convey was that you could get real work done on Slack, reflected in Lyft's testimony: With Slack, it started with a vision - 'Where work happens.' He found Flickr, a photo-sharing app, and a few multiplayer games that were ahead of its time. The CEO and co-founder, Stewart Butterfield, is a visionary and a great storyteller. While it wasn't clear at first, Slack certainly has a product that works, and its story is being written! A 'many-trick' pony is morphing into an 'enterprise social network.'įirstly, everything starts with the product and the story it conveys. Given more time, we believe Slack would get there and would be worth a lot more than $22B.Īfter careful consideration, we are not letting our shares go. We believe that Slack is not just replacing emails but transforming into an 'enterprise social network,' a vision that the CEO and co-founder, Stewart Butterfield, has been trying to tell the world, albeit with little success. However, as the information sinks in, the deal would cut short gains and destroy Butterfield's vision of what Slack could become. After all, Salesforce was already a partner and a customer of Slack.Īs for Slack's shareholders, the news came as a nice 37% boost in the stock price. Additionally, its shareholders can feel assured that the company has done proper due diligence. The deal makes sense, but a lot more for Salesforce.Īs a company that champions relationship management for multiple stakeholders and industries, Slack is precisely the tool Salesforce needs to compete with the big boy, Microsoft ( MSFT). However, the stock closed the day at a $22B market cap. On November 25th, Salesforce ( CRM) reportedly in talks to acquire Slack ( NYSE: WORK) at an undisclosed amount. Find out how you can get the best content on Seeking Alpha here.
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