Slack raises new round of funding with a $5.1 Billion valuation from SoftBankBy Robin-Leigh Chetty 18 September 2017 | Categories: news
It must be great to be a Slack employee at the moment. The workplace collaboration platform, which has garnered attention from consumers and investors alike, recently closed out a round of funding in which SoftBank led things with an estimated $250 million.
The Japanese company has been investing heavily in Silicon Valley at the moment, with a reported $100 billion war chest said to be at its disposal.
Along with the $250 million in funding, SoftBank has also valued Slack at $5 billion, which is up from the $3.8 billion that the company was last assessed at. According to Bloomberg, Slack has noted that the most recent batch of funding is for "operational flexibility," with no specific use outlined at this stage.
Bloomberg says the most likely use of the cash injection will be in the expansion of its service, which Slack detailed earlier this month. To that end, Slack will be aiming to improve its platform to work in different languages like French, Japanese, Spanish and German.
As for what's next for Slack? If the growth over the past year is anything to go by, the platform could very well be encroaching heavily on Skype's business.
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