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 TECH 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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