How App like Slack Got 27 Billion Dollar Business Deal from Salesforce?
Everyone’s main goal is to improve. Individuals evolve as a result of their attempts to improve their health. They advance professionally by acquiring new skills and gaining experience. Salesforce has set the latest example of market success by completing a multibillion-dollar transaction.
Salesforce.com, Inc. is a customer relationship management service provider based in San Francisco, California, that also offers a complementary suite of enterprise applications that primarily focus on customer service, marketing automation, analytics, and application creation.
Salesforce.com recently passed a budget of about 27 billion US dollars to surpass project management business app Slack, which would contribute to the former’s growth to a new level.
Every day, an app like Slack will help you save time and energy. Consider the manual tasks you do at work: things like looking something up, copying and pasting details, and so on and post those updates by hand into Slack channels. They can add up, and bots can help.
The Purpose of App Like Slack
An app like slack is an online business app that can be used on both mobile and desktop computers. Slack is a group chat app used by people from all walks of life. It is a project management tool that assists in keeping track of project updates, assignments, achievements, and implications through all contact channels integrated into the app.
Hubstaff.com summarised the results of a University survey in one of their blogs, stating that Slack has brought-
- 32% rise in team productivity
- 48.6% less use of emails
- 25.1% reduction in meetings
An app like slack is a networking network for employees inside a company. It is one of the fastest-growing workplace tech applications, according to biz30.timedoctor.com. It was first released in 2013, and within 3 years, it had accumulated a user base of 2 million daily users.
An app like slack is mainly used as an online messaging site. However, it has some features, which are mentioned below, that make it stand out and qualify it as a business app.
Business Deal by Salesforce
This information was obtained from Techcrunch.com. Salesforce, the CRM behemoth, recently announced that they had reached their annual sales milestone and that they had confirmed their acquisition of the project management company app Slack for $27.7 billion US dollars.
This arrangement is satisfactory to both companies. Marc Benioff, the co-founder of Salesforce and CEO of Slack, expressed his delight by saying, “This is a match made in heaven.” Salesforce, Slack, or any other app similar to Slack would shape the future of enterprise software and change the way everybody operates in the all-digital, work-from-anywhere world,” says the author.
To this statement joined Slack CEO Stewart Butterfield who further said-
“As software plays a more and more critical role in the performance of every organization, we share a vision of reduced complexity, increased power and flexibility, and ultimately a greater degree of alignment and organizational agility. I believe this is the most strategic combination in the history of software, and I can’t wait to get going,”
Slack’s stock has risen to a healthy level as a result of the takeover, saving the company from recent losses. Slack had lost about 40% of its value after going public at the start of 2020. Despite its widespread success and widespread use, the company’s original valuation fell by 16%.
According to both Yahoo and Google Finance, the estimated net worth of Slack was around $25 billion, and evidently, it got better deals post news leaks and a hike in share prices. Which will be best for anyone who wants to develop an app like Slack.
Also buying Slack has put Salesforce back into the game where they were getting rough edges from their competent Microsoft who has come up with Teams- the business app with the App like Slack life functionality.
Therefore, this sale indeed has helped one to cope up with their losses and turn into something massive. Whereas for another one, it is like getting one more feather to cap for better work productivity and still be in demand by the market.
Conclusion
An app like slack became a mega-hit and entertained everyone. Well, I wasn’t shocked because the app had so many useful features that any CRM-related business would like. Salesforce, as a wise market leader, made the right decision at the right time. Salesforce would benefit from an app like Slack to perform much better, allowing Salesforce to reap trillions from this billion-dollar investment in the long run.
