Slack Heats Of Competition With Microsoft As It Targets IPO In 2018
Slack, a popular business messaging app is seeing much success with its users. The app now reportedly boasts 8M daily active users, which is up 33% from September 2017 when it reported 6M. The number of paid users has doubled since September and currently sits at 3M, and has 70,000 paid teams. With the success of its new numbers, Slack, valued at $5.1B, is predicted to go public in the coming months.
While having much success, Slack is in a competitive field with Microsoft’s (MSFT) Teams product, which is currently being used by 200,000 organizations. Microsoft bundles Teams into its Office 365 cloud productivity suite for businesses, which is believed to give it a competitive edge on the well-liked Slack in the marketplace.
Investors will be looking for Slack’s ability to grow its paid subscribers.
To learn more about Slack and check out the app click here.
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