And it has not yet turned a profit since its initial public offering last year.Ī Salesforce acquisition of Slack could be a sensible combination. The company does, however, face steep competition in the remote collaboration space, including from Microsoft The vaccine news is great for most stocks - unless you're Zoom (Photo by Olivier Douliery/AFP/Getty Images) Olivier Douliery/AFP/Getty Images She was previously working part time to support teachers when they needed to be absent from the classroom and now she helps them to build skills with new digital platforms so they can continue to teach in the best way for their students and their families.The middle school (grades 6-8) has most regularly been using Zoom and the lower grades have been using Zoom with parents. Her role in the school changed significantly when Coronavirus hit. In its most recent quarterly earnings report in September, the company said it had more than 130,000 paid customers, up 30% year-over-year.Ī lower school substitute teacher works from her home due to the Coronavirus outbreak on Apin Arlington, Virginia. Slack’s stock is up more than 59% since the start of 2020. The pandemic has accelerated Slack’s growth as many companies scramble to manage remote teams. Slack is a workplace communications tool that has long been popular among tech companies, media firms and retailers - it is used by Amazon (CRM) immediately responded to requests for comment.
As of Wednesday afternoon, Slack’s stock price reached more than $36 and its market cap grew to nearly $21 billion. The report also notes that there is no guarantee the talks will lead to a deal. The talks were first reported by the Wall Street Journal.Īny deal would likely value Slack at more than its market capitalization of $17 billion earlier Wednesday, according to the Journal. Salesforce shares were down more than 4% on the news. Slack shares shot up as much as 28% Wednesday, despite being halted twice for volatility, following a report that Salesforce has been in talks to acquire the workplace messaging app.
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