Combined with its publicized growth and revenue numbers, that has analysts valuing Slack at around $5.1 billion. The aforementioned $250 million the company raised last year from SoftBank Group Corp brings its outside investment total to just over $840 million. That kind of description paints Redkix as a fairly small fish in a rather large pond, but it's now part of a behemoth, and Slack isn't that far out of swaddling clothes itself. And not just a powerful one, but a hungry one given Facebook's epic share price faceplant (Opens in a new window) earlier this week. If Facebook manages to keep the innovation momentum flowing instead of simply disappearing the Redkix code, Slack could see a powerful new competitor emerge likely by the middle of next year. It was also well on its way toward taking sizeable nibbles out of Slack's market share with initial investments from several angels as well as Wicklow Capital and Salesforce Ventures. So it bought Redkix (Opens in a new window), an office chat startup that was building some innovative organizational features on top of the typical chat interface. That's right, it seems Facebook finally took a long look at its Workplace by Facebook codebase and decided to add some actual value outside of automatically building your org chart. Remember also that while Atlassian was certainly a key competitor for Slack, it was hardly the only one and the remaining list still carries a lot of muscle, notably Google, Microsoft, and just this past week, Facebook. That means no matter what Slack does today, a well-funded new unicorn could show up at any time. What that shows, aside from a need for PCMag to review Discord from a business perspective, is that the office chat and online collaboration arena is still a development hotbed and therefore considered dewy tech darlings by VCs-witness Slack's own $250 million financing round only last year. He went on to say that in his mind, the chat arena is evolving so fast it's impossible to predict who'll be leading even 24 months from now, citing his high school-age son looking over his shoulder one day and commenting that his Slack interface "looks like a lame version of Discord." If we were paying for it, I'd want more value along the lines of what SharePoint offers." "But the main reason we're using it now is because it's free. "We use Slack extensively," said Ashvin Naik, CEO of SalesPal.io (Opens in a new window), itself a collaboration-oriented company developing conversational intelligence analysis tools. IN OFFICE CHAT FULLThe benefit to Slack is two-pronged once the deal takes full effect in February 2019: First, it gets to do away with a key competitor and second, its overall customer number gets an easy boost as long as it manages to retain them once its migration of HipChat and Stride accounts actually starts to happen.īut does that mean Slack's won the office chat war? Not even close. Atlassian gets to dump two products the company said weren't living up to expectations while simultaneously enjoying an 18 percent jump in its share price. When you look at the deal's plusses, everyone should be smiling. Hell, it can't even call itself the clear leader. But while that's great for Slack, it still can't call itself the winner of the office chat wars. While the exact financial terms of the deal remain undisclosed, both companies seem to be getting what they want. IN OFFICE CHAT HOW TO
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