Slack Raises $427 Million; $7.1 Billion Valuation

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NY Times:

Slack, the four-year-old workplace messaging company, said on Tuesday that it had raised $427 million in new funding, just a year after its last huge infusion of money. The latest round values the company at $7.1 billion.

When Microsoft introduced its own Slack competitor, called Microsoft Teams, in 2016, Slack took out a full-page newspaper ad offering advice. “We’re genuinely excited to have some competition,” read the ad, signed “Your friends at Slack.”

With HipChat and Stride effectively dead, they don’t have any serious competition. Microsoft’s Teams isn’t competition. And with this new funding, their apps will still be web-app turds wrapped in a browser window and sprinkled with JavaScript.