Slack Technologies

{{Infobox company

| name = Slack Technologies, LLC

| image_caption = Slack offices in San Francisco (2020)

| former_name = Tiny Speck (2009–2014)

| logo = Slack_Technologies_Logo.svg

| image = Slack offices, Howard Street, San Francisco (viewed from the north-east, January 2020).jpg

| type = Subsidiary

| traded_as =

| founded = {{Start date and age|2009}} in Vancouver, British Columbia, Canada{{cite web

| url = http://www.techvibes.com/blog/tiny-speck-finds-more-than-a-glitch-and-closes-for-good-2012-11-14

| title = Tiny Speck Finds More Than a Glitch and Closes Game for Good

| access-date = 2015-04-19

| publisher = TechVibes

| archive-date = April 19, 2015

| archive-url = https://web.archive.org/web/20150419082623/http://www.techvibes.com/blog/tiny-speck-finds-more-than-a-glitch-and-closes-for-good-2012-11-14

| url-status = live

}}

| hq_location = Salesforce Tower
{{nowrap|San Francisco, California, U.S.}}

| area_served = Worldwide

| founders = {{ubl|Stewart Butterfield|Eric Costello|Cal Henderson|Serguei Mourachov{{cite web

| url = https://techcrunch.com/2015/02/05/slacks-co-founders-take-home-the-crunchie-for-founder-of-the-year/

| title = Slack's Co-Founders Take Home The Crunchie For Founder Of The Year

| date = February 6, 2015

| access-date = 2015-04-19

| publisher = Salesforce.com

| archive-date = April 1, 2019

| archive-url = https://web.archive.org/web/20190401203417/https://techcrunch.com/2015/02/05/slacks-co-founders-take-home-the-crunchie-for-founder-of-the-year/

| url-status = live

}}}}

| key_people = Denise Dresser (CEO){{Cite news |last=Goswami |first=Rohan |date=November 13, 2023 |title=Salesforce appoints longtime executive Denise Dresser as Slack CEO |url=https://www.cnbc.com/2023/11/13/saleforce-appoints-longtime-executive-denise-dresser-as-slack-ceo.html |publisher=CNBC |archive-url=https://web.archive.org/web/20231213093445/https://www.cnbc.com/2023/11/13/saleforce-appoints-longtime-executive-denise-dresser-as-slack-ceo.html |archive-date=December 13, 2023 |url-status=live}}

| owner =

| website = {{URL|slack.com}}

| industry = Internet (formerly video games)

| products = Slack

| revenue = {{increase}} {{US$|903 million|link=yes}} (2020)

| net_income = {{increase}} {{US$|-300 million}} (2020)

| num_employees = 2,545 (January 2021)

| parent = Salesforce

}}

Slack Technologies, LLC is an American software company founded in 2009 in Vancouver, British Columbia, known for its proprietary communication platform Slack. Outside its headquarters in San Francisco, California, Slack also operates offices in New York City, Denver, Toronto, London, Paris, Tokyo, Dublin, Vancouver, Pune, and Melbourne.{{cite web

|url = https://www.businessinsider.com/slack-executives-come-into-office-less-set-remote-work-example-2021-9

|title = Slack is telling execs to limit their office days to 3 a week to encourage other staff to work from home

|website = Business Insider

|date = September 29, 2021

|last = Jones

|first = Stephen

}}{{cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0001764925/000176492521000050/work-20210131.htm |title=Slack Technologies, Inc. 2020 Annual Report (Form 10-K) |date=March 29, 2021 |publisher=U.S. Securities and Exchange Commission}}{{rp|66}}

On June 20, 2019, Slack Technologies went public on the New York Stock Exchange via a direct stock listing.{{cite web

| title = Slack Just Went Public and the Stock Is Trading Well Above Expectations

| url = https://www.barrons.com/articles/slack-stock-open-price-51561047284

| website = Barron's

| access-date = 20 June 2019

| archive-date = June 20, 2019

| archive-url = https://web.archive.org/web/20190620164227/https://www.barrons.com/articles/slack-stock-open-price-51561047284

| url-status = live

}} On December 1, 2020, Salesforce announced its acquisition of Slack for $27.7 billion.{{cite news |title=Salesforce buys Slack in a $27.7B megadeal |url=https://techcrunch.com/2020/12/01/salesforce-buys-slack |access-date=December 2, 2020 |work=Techcrunch |date=December 2, 2020 |archive-date=December 1, 2020 |archive-url=https://web.archive.org/web/20201201235752/https://techcrunch.com/2020/12/01/salesforce-buys-slack/ |url-status=live }} On July 21, 2021, the acquisition was closed.{{Cite web|title=Salesforce closes $27.7 billion acquisition of Slack|url=https://finance.yahoo.com/news/salesforce-completes-slack-acquisition-132247106.html|access-date=2021-07-21|website=finance.yahoo.com|date=July 21, 2021 |language=en-US}}

History

File:Slack Logo Pre 2019.svg

=Initial funding and ''Glitch''=

The company goes back to the San Francisco-based startup Tiny Speck, which was headed by Stewart Butterfield, the co-founder of the photo-sharing site Flickr.{{Cite web|last=Terdiman|first=Daniel|date=2013-11-18|title=Tiny Speck releases entire Glitch art archives into public domain|url=https://www.cnet.com/tech/gaming/tiny-speck-releases-entire-glitch-art-archives-into-public-domain/|access-date=2021-12-19|website=CNET|language=en}} Tiny Speck received angel funding of $1.5 million in 2009,{{cite web

|url = http://gigaom.com/2010/02/09/qa-stewart-butterfield-on-the-launch-of-glitch/

|title = Q&A with Stewart Butterfield on the launch of Glitch

|access-date = 2010-09-17

|author = Mathew Ingram

|work = Gigaom

|date = February 9, 2010

|archive-date = May 24, 2010

|archive-url = https://web.archive.org/web/20100524011119/http://gigaom.com/2010/02/09/qa-stewart-butterfield-on-the-launch-of-glitch/

|url-status = live

}} followed by Series A funding of $5 million in 2010 from Accel and Andreessen Horowitz.{{cite web

|url = http://gigaom.com/2010/04/01/glitch-5-million-vc-funding/

|title = Stewart Butterfield's Tiny Speck Raises 5 Million from VCs

|access-date = 2010-09-17

|author = Om Malik

|work = Gigaom

|date = April 2010

|author-link = Om Malik

|archive-date = September 21, 2010

|archive-url = https://web.archive.org/web/20100921141658/http://gigaom.com/2010/04/01/glitch-5-million-vc-funding/

|url-status = live

}} A Series B round of $10.7 million was raised in 2011.{{cite web

|url = https://www.forbes.com/sites/tomiogeron/2011/04/12/260

|title = Tiny Speck Lands $10.7M From Accel Partners and Andreessen Horowitz

|website = Forbes

|date = April 12, 2011

|last = Geron

|first = Tomio

}}

Tiny Speck's first product was a computer game called Glitch—a social MMORPG with highly stylized 2D graphics. The gameplay was described as follows: "players must learn how to find and grow resources, identify and build community and, at the higher levels of the game, proselytize to those around them".{{cite web |url = http://news.cnet.com/8301-13772_3-10449721-52.html |title = In depth with Tiny Speck's Glitch |access-date = 2010-09-17 |author = Daniel Terdiman |work = CNET |publisher = CNet |archive-date = October 8, 2011 |archive-url = https://web.archive.org/web/20111008054850/http://news.cnet.com/8301-13772_3-10449721-52.html |url-status = live }} Glitch launched on September 27, 2011,{{cite web |url=http://www.fastcompany.com/1783127/can-a-game-that-wants-you-to-play-nice-become-a-blockbuster |title=A Flickr Founder's Glitch: Can A Game That Wants You To Play Nice Be A Blockbuster? |publisher=Fast Company |date=2011-09-27 |access-date=2011-09-30 |archive-date=July 12, 2012 |archive-url=https://web.archive.org/web/20120712030522/http://www.fastcompany.com/1783127/can-a-game-that-wants-you-to-play-nice-become-a-blockbuster |url-status=live }}{{cite news |title=Vancouver's Tiny Speck puts massively multiplayer game Glitch online |publisher=Vancouver Sun |url=http://blogs.vancouversun.com/2011/09/27/vancouvers-tiny-speck-puts-massively-multiplayer-game-glitch-online/ |date=2011-09-27 |access-date=2011-09-30 |archive-date=September 29, 2011 |archive-url=https://web.archive.org/web/20110929222932/http://blogs.vancouversun.com/2011/09/27/vancouvers-tiny-speck-puts-massively-multiplayer-game-glitch-online/ |url-status=live }} but subsequently "unlaunched" on 30 November to improve gameplay.{{cite web |url=http://massively.joystiq.com/2011/11/30/glitch-unlaunches-to-add-new-features/ |title=Glitch 'unlaunches' to add new features - Massively |access-date=2011-12-02 |archive-date=September 25, 2018 |archive-url=https://web.archive.org/web/20180925025918/http://massively.joystiq.com/2011/11/30/glitch-unlaunches-to-add-new-features/ |url-status=live }}{{Cite web |date=2013-11-23 |title=The Big Unlaunching {{!}} Glitch Blog |url=http://www.glitchthegame.com/blog/2011/11/30/the-big-unlaunching/ |access-date=2023-02-27 |archive-url=https://web.archive.org/web/20131123155252/http://www.glitchthegame.com/blog/2011/11/30/the-big-unlaunching/ |archive-date=November 23, 2013 }}

In November 2012, it was announced that Glitch would be closed, effective December 9, 2012.{{cite web |title=A Sad Announcement from Tiny Speck |url=https://www.glitchthegame.com/closing/ |url-status=live |archive-url=https://web.archive.org/web/20121117004246/http://www.glitch.com/closing/ |archive-date=November 17, 2012 |access-date=2012-11-17 |website=Glitch}}

=''Slack'' and further funding=

File:New York Stock Exchange (NYSE) - Slack IPO (48126622722).jpg after Slack's direct offering on the NYSE – June 20, 2019]]

After the closure of Glitch, the company launched the Slack real-time collaboration app and platform, raising $17 million in funding from Andreessen Horowitz, Accel, and Social Capital.{{Cite web|url=http://allthingsd.com/20130814/flickr-co-founder-stewart-butterfield-turns-to-workplace-communication-tools-with-slack/|title=Flickr Co-Founder Stewart Butterfield Turns to Workplace Communication Tools With Slack|access-date=February 28, 2014|archive-date=November 25, 2013|archive-url=https://web.archive.org/web/20131125192142/http://allthingsd.com/20130814/flickr-co-founder-stewart-butterfield-turns-to-workplace-communication-tools-with-slack/|url-status=live}} After the launch of Slack, the company renamed itself to Slack Technologies in August 2014.{{cite web |url=https://twitter.com/tinyspeck/status/505049094658600961 |title=Tiny Speck is no more. We're now Slack Technologies, Inc. See @SlackHQ. Bye! |date=28 August 2014 |website=Twitter |access-date=24 March 2017 |archive-date=April 17, 2017 |archive-url=https://web.archive.org/web/20170417084407/https://twitter.com/tinyspeck/status/505049094658600961 |url-status=live }} The name is an acronym for "Searchable Log of All Conversation and Knowledge".{{cite news |url=https://www.businessinsider.com/where-did-slack-get-its-name-2016-9 |title=Slack, the red hot $3.8 billion startup, has a hidden meaning behind its name |last=Kim |first=Eugene |date=September 27, 2016 |work=UK Business Insider |access-date=October 13, 2018 |archive-date=November 19, 2019 |archive-url=https://web.archive.org/web/20191119051728/https://www.businessinsider.com/where-did-slack-get-its-name-2016-9 |url-status=live }} Slack had been an internal tool used for the development of Glitch.

The company raised $42.75 million in April 2014.{{cite web |title=Slack, Stewart Butterfield's Collaboration Software Startup, Has Raised $42.75M |url=https://techcrunch.com/2014/04/25/stewart-butterfields-collaboration-app-slack-raises-42-75m/ |publisher=TechCrunch |first=Ingrid |last=Lunden |access-date=28 January 2015 |date=25 April 2014 |archive-date=July 6, 2017 |archive-url=https://web.archive.org/web/20170706084944/https://techcrunch.com/2014/04/25/stewart-butterfields-collaboration-app-slack-raises-42-75m/ |url-status=live }} In October 2014, the company raised $120 million in venture capital with a $1.2 billion valuation led by Kleiner Perkins and GV. Earlier investors Andreessen Horowitz, Accel, and Social Capital also participated in this round.{{cite news |title=Why Slack is worth $1bn: it's trying to change how we work |url=https://www.theguardian.com/technology/2014/nov/03/why-slack-is-worth-1bn-work-chat-app |newspaper=The Guardian |access-date=October 13, 2018 |first=Alex |last=Hern |date=November 3, 2014 |archive-date=October 8, 2018 |archive-url=https://web.archive.org/web/20181008214031/https://www.theguardian.com/technology/2014/nov/03/why-slack-is-worth-1bn-work-chat-app |url-status=live }}

In January 2015, Slack announced the acquisition of Screenhero, a specialist in voice, video, and screen sharing.{{cite web |url=https://techcrunch.com/2015/01/28/slack-buys-screenhero-to-add-screen-sharing-and-voice-chat-to-its-work-messaging-platform/ |title=Slack Buys Screenhero To Add Screen Sharing And Voice Chat To Its Work Messaging Platform |date=January 28, 2015 |last=Lunden |first=Ingrid |work=TechCrunch}}{{Cite web |url=http://blog.screenhero.com/post/109337923751/screenhero-joins-slack |title=Screenhero joins Slack |work=The Screenhero Blog |date=January 28, 2015 |access-date=October 13, 2018 |archive-date=January 28, 2015 |archive-url=https://web.archive.org/web/20150128185820/http://blog.screenhero.com/post/109337923751/screenhero-joins-slack |url-status=dead }} In March 2015, Slack signed a deal with investors to raise up to $160 million in a funding round that valued the company at $2.76 billion. New investors include Institutional Venture Partners, Horizons Ventures, Index Ventures, and DST Global.{{cite news |last1=Macmillan |first1=Douglas |title=Slack's Valuation More Than Doubles to $2.8 Billion in Five Months |url=https://blogs.wsj.com/digits/2015/03/26/slacks-valuation-more-than-doubles-to-2-8-billion-in-five-months/ |access-date=28 March 2015 |publisher=Wall Street Journal |archive-date=September 8, 2017 |archive-url=https://web.archive.org/web/20170908061918/https://blogs.wsj.com/digits/2015/03/26/slacks-valuation-more-than-doubles-to-2-8-billion-in-five-months/ |url-status=live }}

In April 2015, the company raised another $160 million.{{cite web|title=Used Daily By 750K Workers, Slack Raises $160M, Valuing Collaboration Startup At $2.8B|url=https://techcrunch.com/2015/04/16/used-daily-by-750k-workers-slack-raises-160m-to-value-collaboration-startup-at-2-8b/#.hzgvrt:qai7|publisher=Techcrunch|access-date=15 April 2015|first=Ingrid|last=Lunden|date=15 April 2015|archive-date=July 6, 2017|archive-url=https://web.archive.org/web/20170706141241/https://techcrunch.com/2015/04/16/used-daily-by-750k-workers-slack-raises-160m-to-value-collaboration-startup-at-2-8b/#.hzgvrt:qai7|url-status=live}} In May 2015, Social Capital was a leading investor in a funding round for Slack Technologies.{{cite web| url=https://www.inc.com/magazine/201512/jeff-bercovici/slack-company-of-the-year-2015.html| publisher=Inc| title=Slack Is Our Company of the Year. Here's Why Everybody's Talking About It| author=Jeff Bercovici| date=December 2015| access-date=February 7, 2018| archive-date=March 13, 2018| archive-url=https://web.archive.org/web/20180313173529/https://www.inc.com/magazine/201512/jeff-bercovici/slack-company-of-the-year-2015.html| url-status=live}}

In April 2016, Slack raised another $200 million, led by Thrive Capital, with participation by GGV, Comcast Ventures and existing investors, including Accel, Index Ventures, and Social Capital.{{cite web|url=https://techcrunch.com/2016/04/01/slack-raises-200m-at-3-8b-valuation-for-business-messaging/|title=Forbes Cloud 100|date=April 2016 |publisher=Tech Crunch|access-date=27 March 2019|archive-date=June 26, 2018|archive-url=https://web.archive.org/web/20180626164435/https://techcrunch.com/2016/04/01/slack-raises-200m-at-3-8b-valuation-for-business-messaging/|url-status=live}}{{cite news |url=https://techcrunch.com/2016/04/01/slack-raises-200m-at-3-8b-valuation-for-business-messaging/ |title=Slack is work chat's runaway train, raises $200M at $3.8B |first1=Katie |last1=Roof |first2=Josh |last2=Constine |date=April 1, 2016 |work=TechCrunch |access-date=October 13, 2018 |archive-date=June 26, 2018 |archive-url=https://web.archive.org/web/20180626164435/https://techcrunch.com/2016/04/01/slack-raises-200m-at-3-8b-valuation-for-business-messaging/ |url-status=live }} In September 2017, Slack raised $250 million, the majority of which came from Softbank Vision Fund, with about 45% of that, or $112.5 million, originally from the Public Investment Fund of Saudi Arabia.{{cite news |last1=Fiegerman |first1=Seth |title=Silicon Valley wrestles with Saudi Arabia ties |url=https://www.cnn.com/2018/10/12/tech/silicon-valley-saudi-arabia/index.html |access-date=16 October 2018 |agency=CNN Business |archive-date=October 16, 2018 |archive-url=https://web.archive.org/web/20181016112028/https://www.cnn.com/2018/10/12/tech/silicon-valley-saudi-arabia/index.html |url-status=live }}{{Cite web |url=https://www.swfinstitute.org/news/73564/slacks-financials-are-released |title=Slack's Financials Are Released |date=June 20, 2019 |publisher=Sovereign Wealth Fund Institute |access-date=June 27, 2019 |archive-date=June 20, 2019 |archive-url=https://web.archive.org/web/20190620233858/https://www.swfinstitute.org/news/73564/slacks-financials-are-released |url-status=live }} This round put Slack's total fundraising at $841 million and its valuation at $5.1 billion (including cash raised).{{cite web|title=Slack Raises $250 million; Tops $5 Billion Valuation|url=http://fortune.com/2017/09/17/slack-raise-valuation/|publisher=Techcrunch|access-date=15 April 2015|author=Andrew Nusca|date=20 September 2017|archive-date=September 21, 2017|archive-url=https://web.archive.org/web/20170921045927/http://fortune.com/2017/09/17/slack-raise-valuation/|url-status=live}} In early 2018, Slack announced the company's first CFO, Allen Shim.{{Cite news|url=https://techcrunch.com/2018/02/06/slack-names-allen-shim-as-companys-first-cfo/|title=Slack names Allen Shim as company's first CFO|last=Miller|first=Ron|work=TechCrunch|access-date=2018-02-08|language=en|archive-date=February 9, 2018|archive-url=https://web.archive.org/web/20180209063858/https://techcrunch.com/2018/02/06/slack-names-allen-shim-as-companys-first-cfo/|url-status=live}}

On July 26, 2018, Atlassian announced the shutdown of its competing HipChat and Stride effective February 11, 2019, and the sale of their intellectual property to Slack.{{Cite news |url=https://techcrunch.com/2018/07/26/slack-forms-key-alliance-as-atlassian-throws-in-the-towel-on-enterprise-collaboration/ |title=Slack forms key alliance as Atlassian throws in the towel on enterprise chat |work=TechCrunch |access-date=October 13, 2018 |date=July 26, 2018 |last=Miller |first=Ron |archive-date=October 1, 2018 |archive-url=https://web.archive.org/web/20181001234817/https://techcrunch.com/2018/07/26/slack-forms-key-alliance-as-atlassian-throws-in-the-towel-on-enterprise-collaboration/ |url-status=live }} Slack was to pay an undisclosed amount over three years to assume the user bases of the services, and Atlassian was to take a minority investment in Slack. The companies also announced a commitment to work on integration of Slack with Atlassian services.{{Cite news |url=https://www.theverge.com/2018/7/26/17619482/slack-hipchat-acquisition-stride-atlassian-partnership-microsoft-teams-competition |title=Slack buys HipChat with plans to shut it down and migrate users to its chat service |work=The Verge |access-date=October 13, 2018 |date=July 26, 2018 |first=Stefan |last=Etienne |archive-date=August 14, 2018 |archive-url=https://web.archive.org/web/20180814072138/https://www.theverge.com/2018/7/26/17619482/slack-hipchat-acquisition-stride-atlassian-partnership-microsoft-teams-competition |url-status=live }}{{Cite news |url=https://techcrunch.com/2018/07/26/atlassians-hipchat-and-stride-to-be-discontinued-with-slack-buying-up-the-ip/ |title=Atlassian's HipChat and Stride to be discontinued, with Slack buying up the IP |first=Greg |last=Kumparak |work=TechCrunch |access-date=October 13, 2018 |date=July 26, 2018 |archive-date=October 9, 2018 |archive-url=https://web.archive.org/web/20181009041300/https://techcrunch.com/2018/07/26/atlassians-hipchat-and-stride-to-be-discontinued-with-slack-buying-up-the-ip/ |url-status=live }}

In September 2018, it was announced the firm was preparing for an initial public offering in the first half of 2019.{{Cite news|url=https://www.wsj.com/articles/slack-actively-preparing-for-early-2019-ipo-1538137541|title=Slack Actively Preparing for Early 2019 IPO|last=Farrell|first=Maureen|date=2018-09-28|work=Wall Street Journal|access-date=2018-10-01|language=en-US|issn=0099-9660|archive-date=October 1, 2018|archive-url=https://web.archive.org/web/20181001042741/https://www.wsj.com/articles/slack-actively-preparing-for-early-2019-ipo-1538137541|url-status=live}} In November 2018, Slack was recognized in Credit Suisse AG's inaugural Disruptive Technology Recognition (DTR) Program, an annual recognition of five top companies who are disrupting traditional enterprise information technology.{{cite press release |last=Byrne |first=Karina |title=Credit Suisse AG Announces the Disruptive Technology Recognition Program |url=https://www.credit-suisse.com/about-us-news/en/articles/media-releases/credit-suisse-ag-announces-the-disruptive-technology-recognition-program-201811.html |access-date=29 August 2019 |work=Credit Suisse |date=20 November 2018 |archive-date=August 30, 2019 |archive-url=https://web.archive.org/web/20190830071627/https://www.credit-suisse.com/about-us-news/en/articles/media-releases/credit-suisse-ag-announces-the-disruptive-technology-recognition-program-201811.html |url-status=live }} On January 16, 2019, Slack announced the launch of the company's new logo.{{Cite web|url=https://slackhq.com/say-hello-new-logo|title=Say hello, new logo.|date=2019-01-16|website=Several People Are Typing|language=en-US|access-date=2019-07-29|archive-date=October 31, 2019|archive-url=https://web.archive.org/web/20191031223526/https://slackhq.com/say-hello-new-logo|url-status=live}}

On December 11, 2018, it was reported that Slack was considering a direct public listing.{{Citation |title=Term Sheet: A Direct Public Debut |publisher=Fortune |url=http://fortune.com/2018/12/11/term-sheet-tuesday-december-11/ |access-date=December 13, 2018 |archive-date=December 12, 2018 |archive-url=https://web.archive.org/web/20181212180344/http://fortune.com/2018/12/11/term-sheet-tuesday-december-11/ |url-status=live }} In the lead-up to its DPO, Slack reported that it had generated $400.6 million in revenue for the fiscal year ending January 31, 2019, up from $220.5 million in the previous year{{Cite web |url=https://www.cnn.com/2019/04/26/tech/slack-files-to-go-public/index.html |title=Slack files to go public with an unusual approach |first1=Seth |last1=Fiegerman |first2=Sara Ashley |last2=O'Brien |date=26 April 2019 |website=CNN |access-date=2019-05-07 |archive-date=August 28, 2019 |archive-url=https://web.archive.org/web/20190828222629/https://www.cnn.com/2019/04/26/tech/slack-files-to-go-public/index.html |url-status=live }} and up from $105.2 million in 2017.{{Cite web|url=https://www.forbes.com/sites/tomtaulli/2019/04/28/what-you-need-to-know-about-the-slack-ipo/|title=What You Need To Know About The Slack IPO|last=Taulli|first=Tom|website=Forbes|language=en|access-date=2019-05-07|archive-date=August 28, 2019|archive-url=https://web.archive.org/web/20190828222633/https://www.forbes.com/sites/tomtaulli/2019/04/28/what-you-need-to-know-about-the-slack-ipo/|url-status=live}} Slack also reported losses of $138.9 million for the fiscal year ending in January 2019.{{Cite web |url=https://www.cnbc.com/2019/04/26/slack-releases-s-1-for-ipo.html |title=Slack files to go public, revealing $400 million in revenue and $139 million in losses |last=Feiner |first=Lauren |date=2019-04-26 |website=CNBC |language=en |access-date=2019-05-24 |archive-date=November 2, 2019 |archive-url=https://web.archive.org/web/20191102054327/https://www.cnbc.com/2019/04/26/slack-releases-s-1-for-ipo.html |url-status=live }} On February 4, 2019, several media news outlets reported that Slack had filed for taking the company public. According to The Wall Street Journal, sources indicated the company would pursue a Direct Listing Process (DLP) instead of the traditional IPO.{{Cite news|url=https://www.wsj.com/articles/slack-files-confidentially-to-go-public-with-direct-listing-11549301336|title=Slack Files Confidentially to Go Public With Direct Listing|last=Farrell|first=Maureen|date=2019-02-04|work=Wall Street Journal|access-date=2019-02-04|language=en-US|issn=0099-9660|archive-date=November 2, 2019|archive-url=https://web.archive.org/web/20191102054327/https://www.wsj.com/articles/slack-files-confidentially-to-go-public-with-direct-listing-11549301336|url-status=live}}{{Cite web|url=https://www.cnbc.com/2019/02/04/slack-confidentially-files-to-go-public.html|title=Slack confidentially files to go public|last=Feiner|first=Lauren|date=2019-02-04|website=www.cnbc.com|access-date=2019-02-04|archive-date=November 2, 2019|archive-url=https://web.archive.org/web/20191102054327/https://www.cnbc.com/2019/02/04/slack-confidentially-files-to-go-public.html|url-status=live}} On April 26, 2019, Slack filed its Form S-1 to go public through a direct listing on the New York Stock Exchange,{{Cite web|url=https://www.sec.gov/Archives/edgar/data/1764925/000162828019004786/slacks-1.htm|title=Form S-1 Registration Statement|website=www.sec.gov|access-date=2019-05-07|archive-date=November 4, 2019|archive-url=https://web.archive.org/web/20191104213008/https://www.sec.gov/Archives/edgar/data/1764925/000162828019004786/slacks-1.htm|url-status=live}} similar to Spotify in 2018.{{Cite web |url=https://techcrunch.com/2019/04/26/slack-files-to-go-public/|title=Slack files to go public, reports $138.9M in losses on revenue of $400.6M|website=TechCrunch|date=April 26, 2019 |language=en-US|access-date=2019-04-29}} Its stock, ticker WORK, started trading on June 20, 2019. The NYSE set a reference price of $26 to start off trading and the stock rose to more than $41 in the initial hours of trading.{{cite news |title=Factbox: What is Slack? |url=https://www.reuters.com/article/idUSKCN1TL24U/ |access-date=28 March 2024 |date=20 June 2019}}

On November 13, 2019, Slack announced the formation of its partner channel as part of its focus on enterprise clients.{{Cite web|url=https://searchunifiedcommunications.techtarget.com/news/252473934/Slack-services-partners-to-help-vendor-target-enterprises|title=Slack Services Partners To Help Vendor Target Enterprises|access-date=May 10, 2020|archive-date=July 9, 2020|archive-url=https://web.archive.org/web/20200709160207/https://searchunifiedcommunications.techtarget.com/news/252473934/Slack-services-partners-to-help-vendor-target-enterprises|url-status=live}}

On February 10, 2020, it was reported that IBM will deploy Slack to all of its 350,000 employees, making IBM Slack's largest client to date.{{cite web

|url=https://markets.businessinsider.com/news/stocks/slack-stock-price-ibm-biggest-account-global-employees-messaging-platform-2020-2-1028890304

|title=Slack skyrockets 21% after making IBM its biggest account yet (WORK)

|publisher=Business Insider

|access-date=2020-02-10

|archive-date=February 10, 2020

|archive-url=https://web.archive.org/web/20200210200136/https://markets.businessinsider.com/news/stocks/slack-stock-price-ibm-biggest-account-global-employees-messaging-platform-2020-2-1028890304

|url-status=live

}}

On November 25, 2020, the Wall Street Journal reported that Salesforce was in advanced talks to acquire Slack.{{cite news |last1=Lombardo |first1=Cara |title=Salesforce Is in Advanced Talks to Buy Slack Technologies |url=https://www.wsj.com/articles/salesforce-has-held-talks-to-buy-slack-technologies-11606326392?mod=article_inline |access-date=30 November 2020 |work=Wall Street Journal |date=25 November 2020 |archive-date=November 30, 2020 |archive-url=https://web.archive.org/web/20201130215344/https://www.wsj.com/articles/salesforce-has-held-talks-to-buy-slack-technologies-11606326392?mod=article_inline |url-status=live }} The deal closed in 2021 for $27.1 billion.{{cite news |last1=Novet |first1=Jordan |title=Salesforce's behind-the-scenes co-founder is tackling Slack as software company turns 25 |url=https://www.cnbc.com/2024/03/09/parker-harris-prepared-salesforce-for-ai-now-hes-focused-on-slack.html |access-date=28 March 2024 |work=CNBC |date=9 March 2024 |language=en}} Slack was delisted from the NYSE in June 2021 after the acquisition was completed, and shareholders were given Salesforce stock.{{Cite web|last=MarketScreener|title=Slack Technologies : Completion of Acquisition or Disposition of Assets (Form 8-K) {{!}} MarketScreener|url=https://www.marketscreener.com/quote/stock/SLACK-TECHNOLOGIES-INC-60037714/news/Slack-Technologies-Completion-of-Acquisition-or-Disposition-of-Assets-Form-8-K-35911521/|access-date=2021-11-11|website=www.marketscreener.com|date=July 21, 2021 |language=en}}

Slack announced it would move its headquarters from Foundry Square to Salesforce Tower by the end of February 2023, as part of a consolidation plan by Salesforce.{{cite web |last=Robison |first=Kylie |date=February 13, 2023 |title=Slack is ditching its stunning San Francisco headquarters — designed to make workers feel like they were in waterfalls and glaciers — and moving into Salesforce Tower to cut costs |url=https://fortune.com/2023/02/13/slack-ditching-san-francisco-headquarters-500-howard-moving-into-salesforce-tower-to-cut-costs/ |magazine=Fortune}}

=Litigation=

In July 2020, Slack filed a lawsuit with the European Commission accusing Microsoft of anticompetitive behavior. Slack alleges that Microsoft illegally bundled their competing Microsoft Teams collaboration product with the Microsoft office suite.{{cite web | title=Slack Accuses Microsoft of Illegally Crushing Competition | website=The New York Times | date=2020-07-22 | url=https://www.nytimes.com/2020/07/22/technology/slack-microsoft-antitrust.html | access-date=2020-09-01 | archive-date=August 28, 2020 | archive-url=https://web.archive.org/web/20200828141114/https://www.nytimes.com/2020/07/22/technology/slack-microsoft-antitrust.html | url-status=live }}

==State court class action==

In October 2020, investors plaintiffs filed a class action lawsuit against Slack in the California State Superior Court of San Mateo County, alleging securities violations.{{Cite web|url=https://lawstreetmedia.com/tech/tech-giants/first-amended-complaint-filed-in-consolidated-slack-securities-suit/|title=First Amended Complaint Filed In Consolidated Slack Securities Suit - Tech Giants|date=October 7, 2020|access-date=November 23, 2020|archive-date=December 31, 2020|archive-url=https://web.archive.org/web/20201231002557/https://lawstreetmedia.com/tech/tech-giants/first-amended-complaint-filed-in-consolidated-slack-securities-suit/|url-status=live}} Plaintiffs claimed, on behalf of individuals who alleged that they acquired Slack Class A common stock in Slack’s June 2019 direct public offering, that Slack violated Sections 11, 12, and 15 of the Securities Act of 1933 because its IPO documentation allegedly had untrue statements and material omissions.

==Federal court class action==

Earlier, in April 2020, Judge Susan Illston of the United States District Court for the Northern District of California had issued an order partially granting Slack’s motion to dismiss a similar federal class action complaint against Slack, Pirani v. Slack Technologies.{{Cite web|url=https://lawstreetmedia.com/tech/slack-direct-listing-lawsuit-partially-dismissed/|title=Slack Direct Listing Lawsuit Partially Dismissed - Tech|date=April 24, 2020|access-date=November 23, 2020|archive-date=October 24, 2020|archive-url=https://web.archive.org/web/20201024142902/https://lawstreetmedia.com/tech/slack-direct-listing-lawsuit-partially-dismissed/|url-status=live}} Typically, plaintiffs in Section 11 class actions must show they can trace their shares of stock in the issuer back to the relevant offering.{{Cite web|url=https://www.jdsupra.com/legalnews/us-supreme-court-to-hear-appeal-8271781/|title=US Supreme Court to Hear Appeal Regarding Securities Act Claims in Direct Listings|website=JD Supra}} If there have been multiple registration statements, plaintiffs must prove that the shares they purchased were issued under the allegedly false or misleading registration statement. Illiston held that a direct listing is different than the normal offering. This is in one respect true, in that unlike a traditional IPO consisting of "new" shares being offered to the public, a direct listing permits insiders and certain early investors to immediately sell their already outstanding shares, which are immediately tradeable on a stock exchange.{{Cite web|url=https://www.marketscreener.com/quote/stock/SLACK-TECHNOLOGIES-INC-60037714/news/Supreme-Court-To-Weigh-In-On-Securities-Act-Of-1933-Standing-In-Slack-Technologies-Direct-Listing-Ap-42588351/|title=Supreme Court To Weigh In On Securities Act Of 1933 Standing In Slack Technologies Direct Listing Appeal | MarketScreener|website=www.marketscreener.com|date=December 20, 2022 }} In Slack's direct listing, Slack offered 118 million registered shares for resale while at the same time another 164 million unregistered shares also became available without registration pursuant to exemptions to the Securities Act registration requirements. Slack moved to dismiss, arguing that the plaintiff lacked standing because he could not trace his shares back to the registration statement that he claimed was misleading. The judge opined—in an opinion that was later overturned—that that requires a broader reading of Section 11 of the '33 Act of the phrase “such security,” meaning: “acquiring a security of the same nature as that issued pursuant to the registration statement.” As a result, she denied defendant’s motion to dismiss the case under Section 11. At the same time, she granted the motion to dismiss partially (as to claims that Slack misled plaintiffs regarding Slack's scalable architecture), and she also found the statements in the “Key Benefits” portion of Slack's registration statement to be unactionable.

On September 20, 2021, the Ninth Circuit issued a split decision—ultimately overturned, affirming the district court. The dissent, citing established precedent, said that Congress provided for strict liability for issuers in Sections 11 and 12(a)(2), but chose to temper that by "limiting the class of plaintiffs who can sue." The dissent therefore was of the opinion that Sections 11 and 12(a)(2) confer standing only on plaintiffs who purchased securities issued pursuant to the registration statement containing the allegedly false or misleading disclosure.

In December 2022, the U.S. Supreme Court granted certiorari in Pirani v. Slack Technologies, Inc.{{Cite web|url=https://www.lexology.com/library/detail.aspx?g=6977c061-9c77-4a68-8254-fa952cce2ff8|title=Supreme Court to Weigh in on Securities Act of 1933 Standing in Slack Technologies Direct Listing Appeal|first1=Katten Muchin Rosenman LLP-Sarah|last1=Eichenberger|first2=Richard H.|last2=Zelichov|date=December 15, 2022|website=Lexology}}{{Cite web| title=Slack technologies, LLC, et al., V. Fiyyaz P Irani | publisher=United States Supreme Court | url=https://www.supremecourt.gov/DocketPDF/22/22-200/242285/20221003121846238_2022-10-03%20%20No.%2022-200%20Slack%20-%20Chamber%20Cert%20Amici%20Brief.pdf | archive-url=https://web.archive.org/web/20221006212543/https://www.supremecourt.gov/DocketPDF/22/22-200/242285/20221003121846238_2022-10-03%20%20No.%2022-200%20Slack%20-%20Chamber%20Cert%20Amici%20Brief.pdf | archive-date=2022-10-06}} The U.S. Supreme Court ultimately noted in its unanimous June 2023 decision in Slack Technologies, LLC v. Pirani, No. 22-200, 598 U.S. ___ (2023), that lower federal courts had held since the 1960s that liability under Section 11 of the Securities Act of 1933 attaches "only when a buyer can trace the shares he has purchased to a false or misleading registration statement." It held that "because we think the better reading of the particular provision before us requires a plaintiff to plead and prove that he purchased shares traceable to the allegedly defective registration statement, we vacate the Ninth Circuit’s judgment holding otherwise."[https://www.supremecourt.gov/opinions/22pdf/22-200_097c.pdf Slack v. Prani], Supreme Court of the United States (2023).

The case was remanded to the Ninth Circuit, which held in 2025 that because the plaintiff previously conceded that he could not make the required showing that the securities that he purchased were traceable to the particular registration statement alleged to be false or misleading, all of his claims failed, and the court consequently reversed the case and remanded with instructions to dismiss the complaint in full and with prejudice.[https://law.justia.com/cases/federal/appellate-courts/ca9/20-16419/20-16419-2025-02-10.html "PIRANI V. SLACK TECHNOLOGIES, No. 20-16419 (9th Cir. 2025)"]