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posted by martyb on Tuesday September 19 2017, @08:22AM   Printer-friendly
from the picking-up-the-slack dept.

https://www.reuters.com/article/us-slack-fundraising/slack-valued-at-5-1-billion-after-new-funding-led-by-softbank-idUSKCN1BT0KO

Software startup Slack Technologies Inc said it raised $250 million from SoftBank Group Corp and other investors in its latest funding round, boosting the company's valuation to $5.1 billion.

The latest fund-raising, led by SoftBank through its giant Vision Fund and joined by Accel and other investors, lifted Slack's total funds raised to $841 million, the enterprise messaging operator said in an emailed statement.

The fund provides resources which will help Slack to run as a cash-generating company and the raise will reduce its dependence on outside financing, Slack Chief Executive Stewart Butterfield said.

Also at TechCrunch and Bloomberg.


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  • (Score: 4, Insightful) by kazzie on Tuesday September 19 2017, @08:42AM (6 children)

    by kazzie (5309) Subscriber Badge on Tuesday September 19 2017, @08:42AM (#570115)

    I value Slackware far above Slack.

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  • (Score: 2) by fishybell on Tuesday September 19 2017, @03:50PM (4 children)

    by fishybell (3156) on Tuesday September 19 2017, @03:50PM (#570227)

    I'll be honest, I thought we were talking about Slackware.

    Seriously though, TFA and TFS don't explain. What is Slack? What do they do? What do they produce? What do they sell, and to whom?

    • (Score: 5, Insightful) by MadTinfoilHatter on Tuesday September 19 2017, @04:32PM (3 children)

      by MadTinfoilHatter (4635) on Tuesday September 19 2017, @04:32PM (#570249)

      What is Slack?

      IRC reinvented by hipsters.

      What do they do?

      Sell their reinvented proprietary IRC.

      What do they produce?

      Hot air, mostly.

      What do they sell, and to whom?

      Their reinvented IRC service to suckers and other hipsters.

      • (Score: 0) by Anonymous Coward on Tuesday September 19 2017, @05:08PM (1 child)

        by Anonymous Coward on Tuesday September 19 2017, @05:08PM (#570259)

        Slack has quite a few nice features that have been packaged into an easy to use platform. I dislike them simply because I think the SaaS model is bullshit for 90% of the things out there. Slack is also a massive MASSIVE cpu hog. I had to boot up an older laptop, still had 4gb of memory and a decent CPU but I could mentally count the time it took for a message to be sent.

        • (Score: 4, Informative) by arslan on Wednesday September 20 2017, @01:50AM

          by arslan (3462) on Wednesday September 20 2017, @01:50AM (#570489)

          There an opensource clone called mattermost for in-prem usage. Its pretty good in terms of the core features that Slack has. But yea... billions of valuation for an online chat is ridiculous.

      • (Score: 2) by JoeMerchant on Tuesday September 19 2017, @08:58PM

        by JoeMerchant (3937) on Tuesday September 19 2017, @08:58PM (#570355)

        When they get a $5.1B market capitalization public placement, it's no longer hot air. It may be marketed to suckers and hipsters, but so is Starbucks and Apple, and they're real enough.

        --
        🌻🌻 [google.com]
  • (Score: 2) by JoeMerchant on Tuesday September 19 2017, @08:52PM

    by JoeMerchant (3937) on Tuesday September 19 2017, @08:52PM (#570353)

    If you value Slackware so much, you might consider supporting AlienBob since he got laid off from his day job.

    --
    🌻🌻 [google.com]