S-1 Breakdown
slack
Company Overview
What does Slack do?
Slack is an enterprise software platform that provides a digital communications workspace for teams and businesses. The company aims to improve communication by providing an all-in-one platform that houses user workflow tools, from email notifications to file management systems. The platform offers one-on-one messaging, private group chats, and chat rooms organized by topics.
Additionally, all content inside Slack is searchable from one search box. With the Slack App Directory, users can integrate thousands of apps that extend the capabilities of the platform, including Google Docs, Dropbox, Heroku, Crashlytics, GitHub, and Zendesk.
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CEO: Stewart Butterfield
20
09
Year Founded
Headquartered: San Francisco, California
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History
of Slack
Slack has come a long way
2009
Stewart Butterfield creates TinySpeck, a MMORPG called Glitch - the precursor to Slack
2012
Glitch shuts down and TinySpeck announces it will continue to work on its in-game messaging technology
2010
~$8M Series A round
2011
~$9M Series B round
2013
May: TinySpeck preview releases Slack
December: TinySpeck fully releases Slack on Android, Desktop and iOS
2014
February: TinySpeck publicly launches Slack
April: TinySpeck raises ~$42M in a Series C round
August: The company rebrands as Slack Technologies
October: Slack raises ~$127M in a Series D round and achieves unicorn status
2015
2016
2017
2018
Slack raises ~$180M in a Series E round and achieves $1M in monthly recurring revenue
Slack raises ~$208M in a Series F round and launches in-platform voice calls and video chat; Slack grows Daily Active Users from 2M to 4M
Slack introduces Threaded Messaging and raises ~$410M in a Series G round; Slack reaches 37K paid customers
Slack reaches a $7B valuation through a ~$430M Series H investment; the company reaches 10M Daily Active Users in January 2019
Cumulative Equity Funding
Slack has consistently grown its cash cannon in its pursuit to take over workplace communications
($ in mm)
Financials
Slack's S-1 unveils the numbers behind its platform
Daily Active Users
10M+
Revenue
Organizations that use Slack
600,000+
Countries Slack is in
150+
Paid Customers
Paid Customers >$100k
575
2019 Gross Margin
87.2%
2019 R&D to Revenue %
39.3%
81.6%
109.7%
49.2%
59.5%
Competitors
Slack competes against several collaboration and communication tools, the biggest of which include Microsoft and Google
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Microsoft Teams, launched in March 2017, is a unified communications platform that integrates with a company's Office 365 subscription. For companies on Microsoft's premium business subscription plan, Teams is included. Microsoft removes most barriers to entry by providing a free version to existing subscribers, allowing them to upgrade for additional functionalities.
Google, through its G Suite subscription, provides Chat and Meet, which are a messaging and video platform built for teams. Chat and Meet integrate with Google's G Suite products, like Drive, Sheets, and Slides, to make it easy to collaborate. Chat and Meet are included in all versions of G Suite subscriptions.
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Contact Us
Sources: Slack Form S-1; Slack Website; News Articles
