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