BrokerDealer.com blog update is courtesy of curating various stories with special credit to NYT reporter Farhad Manjoo, profiling Stewart Butterfield, the CEO of start-up Slack, an enterprise messaging company. Manjoo’s article “Is Slack Really Worth $2.8 Billion? A Conversation With Stewart Butterfield” is extracted below.
When I recently wrote about Slack, a corporate messaging app that has aspirations to replace email, investors valued the company at $1 billion. That was a month ago. Today, the start-up announced that it has raised $160 million from a half dozen investors, and that it is now worth $2.8 billion.
Slack, which is just a year old, has more than 750,000 daily active users, 200,000 of whom are paying customers. By many estimates, it is the fastest-growing business application of all time.
Still, Slack’s escalating valuation in such a short time seems destined to spark questions about the rising possibility of a tech bubble. I asked Stewart Butterfield, Slack’s co-founder and chief executive, about the company, its growth and the bubble in a wide-ranging conversation this morning.