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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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Oh, that sound of male ego. You travel halfway across the galaxy and
it's still the same song.
-- Eve McHuron, "Mudd's Women", stardate 1330.1
(Score: 3, Insightful) by Anonymous Coward on Tuesday September 19 2017, @06:06PM (5 children)
If anything, this would the nice thing about wealth inequality.
There are an increasingly large number of people with absurdly massive amounts of money, and no real clue what to do with it. They all want to make sure they invest a gazillion dollars in the next Facebook or other 'big thing' and so are quick to voluntarily throw a few bucks at any idea that looks even remotely promising. Of course throw some change translates to millions of dollars for corporations and individuals whose disposable income is measured in billions of dollars.
On the other hand this is obviously completely butchering any correlation between merit and reward in the market. It's all about getting investors hyped, getting them to throw billions of dollars at something, going public, and cashing out. Our world is like a giant candy store for charismatic sociopaths.
(Score: 3, Interesting) by Virindi on Wednesday September 20 2017, @01:13AM (4 children)
Actually, all they seem to care about is slick marketing. As a result, we are being driven ever faster to a society of slick marketing and no substance.
(Score: 0) by Anonymous Coward on Friday September 22 2017, @12:40AM (2 children)
(Score: 2) by martyb on Friday September 22 2017, @12:43AM (1 child)
Wit is intellect, dancing.
(Score: 2) by martyb on Friday September 22 2017, @12:43AM
Wit is intellect, dancing.
(Score: 2) by martyb on Friday September 22 2017, @12:46AM
Wit is intellect, dancing.