![]() ![]() On July 26, 2018, Atlassian announced the shutdown of its competing HipChat and Stride, effective February 11, 2019, and the sale of its intellectual property to Slack. Slack was previously compatible with non-proprietary Internet Relay Chat (IRC) and XMPP messaging protocols, but the company closed the corresponding gateways in May 2018. ![]() Īccording to Butterfield, "Slack" is an acronym for "Searchable Log of All Conversation and Knowledge," which he chose in 2012 to replace the previous codename, "linefeed." Slack was launched to the public in August 2013. Slack began as an internal tool for Stewart Butterfield's company, Tiny Speck, during the development of Glitch, an online game. Slack runs on Web, Windows, Linux, MacOS, Android, Windows Phone and iOS. In addition to these online communication features, Slack can integrate with other software. Users can communicate with voice calls, video calls, text messaging, media, and files in private chats or as part of communities called "workspaces." Slack also uses IRC-style features such as persistent chat rooms (channels) organized by topic, private groups, and direct messaging. Although Slack was developed for professional and organizational communications, it has also been adopted as a community platform. Slack is an instant messaging program designed by Slack Technologies and owned by Salesforce. Here's why everyone is laughing about it.Chinese (Traditional), Chinese (Simplified), English (UK), English (US), French (France), German (Germany), Japanese, Korean, Portuguese (Brazil), Spanish (Latin America), Spanish (Spain) This facetious VC schedule went viral on Twitter.SoftBank did not immediately respond to a request for comment. Should Salesforce's megadeal buy of Slack proceed as planned, expected to close by July, 2021, it will be a boon to many Slack investors, including venture investors Accel and Social Capital's Chamath Palihapitiya. SoftBank senior managing partner Deep Nishar led the investment. The money came from the first Vision Fund, a $100 billion behemoth that invested in companies ranging from WeWork to Uber to robot pizza company Zume. It bought its stake from 2017 to 2018 at between $8.70 and $11.91 a share, according to Slack's IPO prospectus. All told, it paid $334 million for its stake and sold for just over $1 billion, it said. It originally led Slack's October 2017 funding round and bought in on following rounds. The Japanese investor was fully out of its stake by September 4 when the share price was just under $34. SoftBank sold off its shares across the second and third quarters of 2020, records show, a period of time when Slack's share price ranged from around $25 to a short-lived peak of just under $40 in mid-summer. Salesforce shares were trading at $241.35 by close of market Tuesday, so that amounts to about $45.51 per share. ![]() Specifically, Slack shareholders will receive $26.79 in cash and 0.0776 shares of Salesforce common stock for each Slack share. Salesforce said on Tuesday it plans to purchase Slack for $27.7 billion in cash and stock. Slack went public in June, 2019, and up until September, SoftBank remained a major shareholder.īut SoftBank exited its entire stake in the workplace-communications company just two months ago, it told investors on September 30, which means it's missing out on the premium acquisition price that Salesforce is ready to pay. SoftBank was a major investor in Slack when it was a startup raising huge sums of money from venture investors. Visit Business Insider's homepage for more stories.Salesforce said on Tuesday it would purchase Slack for $27.7 billion in cash and stock.The Japanese investor sold its stake in Slack for over $1 billion, fully exiting on September 4.SoftBank sold its stake in Slack over the second and third quarters this year, so it just missed out on Salesforce's premium acquisition price.Account icon An icon in the shape of a person's head and shoulders. ![]()
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