When is Salesforce buying slack?
With those questions in mind, here are 16 things for investors to know:
- The rumors all started because people familiar with the deal said Salesforce is in talks to buy Slack.
- As a result of those rumors, WORK stock is up nearly 23% in the market.
- CRM stock, however, is not so lucky. ...
- This is likely because any such deal would value Slack at more than its $17 billion market capitalization.
When will Salesforce acquire Slack?
The transaction is anticipated to close in the second quarter of Salesforce’s fiscal year 2022, subject to approval by the Slack stockholders, the receipt of required regulatory approvals and other customary closing conditions.
Is Salesforce paying too much for slack?
Slack and other instant-messaging platforms have only become more vital during the pandemic as millions of people work from home. And just last month, Salesforce announced it was buying Slack for a whopping $27.7 billion — that's a pretty huge deal for a company that's just seven years old.
Did Salesforce buy slack?
Salesforce.com Inc. agreed to buy messaging company Slack Technologies Inc. in a $27.7 billion deal that shows how the biggest players in cloud computing are racing to add muscle amid the pandemic’s remote-work boom.
Why did Salesforce acquire Slack?
It connects your employees, your partners, your customers on a single platform and a platform that people love to use. And the Slack-First Customer 360 makes every Salesforce product more powerful and more effective for our customers.”
Has Salesforce acquisition of Slack closed?
Salesforce said Wednesday that it officially closed its blockbuster $27.7 billion acquisition of collaboration app Slack as the San Francisco tech giant aims to enter the work-from-anywhere technology arena.
What does Salesforce acquisition mean for Slack employees?
Together, Salesforce and Slack will deliver the Slack-first Customer 360 that gives companies a single source of truth for their business and a single platform for connecting employees, customers, and partners with each other and the apps they use every day, all within their existing workflows.
How much did Salesforce acquire Slack for?
a $27.7 billion dollarShare All sharing options for: Now Salesforce officially owns Slack. Cloud computing giant Salesforce has completed its acquisition of Slack, a $27.7 billion dollar deal that adds the messaging app to its suite of enterprise software without immediately changing Slack's functionality, branding, or leadership.
What happens to my Slack stock after acquisition?
Under the agreement, Slack shareholders will receive $26.79 in cash as well as 0.0776 shares of Salesforce common stock for each Slack share. This will basically mean at some point, your Slack stocks will be replaced by cash, and instead, you'll receive some Salesforce stock in your account.
Will Slack be delisted?
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. It was delisted in June 2021 after Salesforce completed is acquisition, and shareholders were given Salesforce stock.
Is Slack replacing chatter?
Slack will also likely replace Salesforce's Chatter app, as well as Anywhere, it's real-time messaging application.
Who owns Salesforce now?
Marc BenioffMarc Benioff is Chair, Co-CEO, and Co-Founder of Salesforce and a pioneer of cloud computing. Under Benioff's leadership, Salesforce is the #1 provider of customer relationship management (CRM) software globally and one of the world's fastest-growing enterprise software companies.
What big companies use Slack?
8786 companies reportedly use Slack in their tech stacks, including Airbnb, Shopify, and Pinterest.Airbnb.Shopify.Pinterest.Udemy.Instacart.Robinhood.Slack.LaunchDarkly.
Why did Salesforce buy Slack for $27 billion?
By acquiring Slack, a business chat service with over 130,000 paid customers, Salesforce is bolstering its portfolio of enterprise applications and filling out its broader software suite as it seeks new areas of growth. Salesforce's annualized revenue topped $20 billion in the fiscal second quarter, with growth of 29%.
Why did Salesforce buy Slack for $27 billion and change?
From the company's press release, the logic given is that Salesforce CRM enables companies to sell, service, market and conduct commerce, from anywhere. Slack brings people, data and tools together so teams can collaborate and get work done, from anywhere.
When did Slack come out?
Slack launched to the public in August 2013.
When will Salesforce and Slack merge?
The transaction is anticipated to close in the second quarter of Salesforce’s fiscal year 2022, subject to approval by the Slack stockholders, the receipt of required regulatory approvals and other customary closing conditions.
What companies use Slack?
Slack serves leading organizations in every industry around the world, from the fastest growing startups to Fortune 500 companies, such as Starbucks, Target and TD Ameritrade, along with leading academic institutions, non-profits, and governments in more than 150 countries.
What is Slack Connect?
Slack Connect extends the benefits of Slack to enable communication and collaboration between a company’s employees and all its external partners, from vendors to customers. Slack will be deeply integrated into every Salesforce Cloud.
How does Slack help businesses?
It’s the leading channel-based messaging platform, used by millions to align their teams, unify their systems, and drive their businesses forward. Only Slack offers a secure, enterprise-grade environment that can scale with the largest companies in the world. It is a new layer of the business technology stack where people can work together more effectively, connect all their other software tools and services, and find the information they need to do their best work. Slack is where work happens.
Where is Salesforce located?
Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM.". For more information please visit https://www.salesforce.com, or call 1-800-NO-SOFTWARE. December 1, 2020.
Does Salesforce have voting rights?
Salesforce has also entered into a voting agreement with certain stockholders of Slack common stock, under which each such stockholder has agreed to vote all of their Slack shares in favor of the transaction at the special meeting of Slack stockholders to be held in connection with the transaction, subject to certain terms and conditions. The Slack shares subject to the agreement represent approximately 55% of the current outstanding voting power of the Slack common stock.
What is the biggest challenge companies face today?
Connecting people and data across systems, apps and devices is one of the biggest challenges companies face in today’s all-digital world.
When did Salesforce acquire Slack?
SAN FRANCISCO, July 21, 2021 /PRNewswire/ -- Salesforce (NYSE: CRM), the global leader in CRM, today announced it has completed its acquisition of Slack Technologies, Inc.
What is the combination of Salesforce and Slack?
The combination of Salesforce and Slack also brings together two of the software industry's most dynamic communities, creating an open and extensive ecosystem that will deliver the next generation of digital-first apps and workflows for business.
What is Salesforce 360?
Together, Salesforce and Slack will deliver the Slack-first Customer 360 that gives companies a single source of truth for their business, and a single platform for connecting employees, customers, and partners with each other and the apps they use every day, all within their existing workflows.
Where is Salesforce located?
Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM." For more information please visit https://www.salesforce.com, or call 1-800-NO-SOFTWARE.
Is Slack part of Salesforce?
As part of Salesforce, Slack will be positioned to accelerate and extend its mission to make work life simpler, more pleasant, and more productive. Slack will continue to operate under the Slack brand, driving forward a continued focus on its mission, customers, and community. Slack will continue to be led by CEO and Co-Founder Stewart Butterfield.
What is the combination of Salesforce and Slack?
The combination of Salesforce and Slack also brings together two of the software industry’s most dynamic communities, creating an open and extensive ecosystem that will deliver the next generation of digital-first apps and workflows for business.
What company acquired Slack?
Salesforce (NYSE: CRM), the global leader in CRM, today announced it has completed its acquisition of Slack Technologies, Inc.
What is Salesforce 360?
Together, Salesforce and Slack will deliver the Slack-first Customer 360 that gives companies a single source of truth for their business, and a single platform for connecting employees, customers, and partners with each other and the apps they use every day, all within their existing workflows.
Is Slack part of Salesforce?
As part of Salesforce, Slack will be positioned to accelerate and extend its mission to make work life simpler, more pleasant, and more productive. Slack will continue to operate under the Slack brand, driving forward a continued focus on its mission, customers, and community. Slack will continue to be led by CEO and Co-Founder Stewart Butterfield.
What companies use Slack?
Slack serves leading organizations in every industry around the world, from the fastest growing startups to Fortune 500 companies, such as Starbucks, Target and TD Ameritrade, along with leading academic institutions, non-profits, and governments in more than 150 countries.
How many apps does Slack have?
Slack’s open platform seamlessly integrates with more than 2,400 apps that people use to collaborate, communicate and get work done. With the largest enterprise app ecosystem, the Salesforce platform is the easiest way to build and deliver apps to connect with customers in a whole new way.
What is Slack used for?
It’s the leading channel-based messaging platform, used by millions to align their teams, unify their systems, and drive their businesses forward. Only Slack offers a secure, enterprise-grade environment that can scale with the largest companies in the world.
Where is Salesforce located?
Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM.".
Does Salesforce file a proxy statement?
Each of Salesforce and Slack may also file other relevant documents with the SEC regarding the proposed transaction. This document is not a substitute for the proxy statement/prospectus or registration statement or any other document that Salesforce or Slack may file with the SEC. The definitive proxy statement/prospectus (if and when available) will be mailed to stockholders of Salesforce and Slack. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain free copies of the registration statement and proxy statement/prospectus (if and when available) and other documents containing important information about Salesforce, Slack and the proposed transaction, once such documents are filed with the SEC through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Salesforce will be available free of charge on Salesforce’s website at www.salesforce.com/investor or by contacting Salesforce’s Investor Relations department at [email protected]. Copies of the documents filed with the SEC by Slack will be available free of charge on Slack’s website at investor.slackhq.com or by contacting Slack’s Investor Relations department at [email protected] .
Is Slack integrated with Salesforce?
Slack will be deeply integrated into every Salesforce Cloud. As the new interface for Salesforce Customer 360, Slack will transform how people communicate, collaborate and take action on customer information across Salesforce as well as information from all of their other business apps and systems to be more productive, make smarter, faster decisions and create connected customer experiences.
Does Salesforce have voting rights?
Salesforce has also entered into a voting agreement with certain stockholders of Slack common stock, under which each such stockholder has agreed to vote all of their Slack shares in favor of the transaction at the special meeting of Slack stockholders to be held in connection with the transaction, subject to certain terms and conditions. The Slack shares subject to the agreement represent approximately 55% of the current outstanding voting power of the Slack common stock.
Product Roadmap
The Salesforce ecosystem of products has grown larger and more complex over the years (largely driven by the aforementioned acquisition strategy) and a major challenge that comes with this type of SaaS portfolio expansion is building the communication layer that sits between all applications.
Gives Salesforce Access to the SMB market
While Salesforce has always served earlier-stage organizations in the SMB market, they don’t often release products specifically targeting this segment.
Slack Developer and 3rd Party App Ecosystem
When it comes to the top 3rd party APIs being used to connect a company's internal tools, Slack was used by 37% of respondents in a recent study on internal apps - #3 behind only GitHub and AWS. (Salesforce was 9th on the list with 16%.)
Competition with Microsoft
Microsoft has been a dominant player in consumer & enterprise technology for decades and the sheer scale of their user base afford them massive advantages.
What will Salesforce do with Slack?
Salesforce has a mixed track record with post-acquisition integration.
Slack to Salesforce Integration Overview
There is already huge value in connecting your Slack and Salesforce instance, which can be done through native integrations, using tools like Zapier, or with custom API development for more complex, bidirectional syncs.
Who bought Slack?
Salesforce.com Inc. agreed to buy messaging company Slack Technologies Inc. in a $27.7 billion deal that shows how the biggest players in cloud computing are racing to add muscle amid the pandemic’s remote-work boom.
Who is the CEO of Slack?
Slack CEO Stewart Butterfield talks to The Wall Street Journal about the challenges of building a startup, the downsides of running a private company and his favorite computer game. Photo: Michael Bucher for The Wall Street Journal (Originally published Oct. 10, 2018)
Is Salesforce a cash and stock deal?
The cash-and-stock deal, announced Tuesday, is the biggest move yet by Salesforce Chief Executive Marc Benioff, a pioneer in selling subscriptions for software run on remote servers, to turn the company he co-founded 21 years ago into a broad-reaching powerhouse in tech tools for businesses. The deal is almost twice as large as Salesforce’s largest acquisition so far and would turn the combined company into a more formidable competitor to Microsoft Corp. and Google parent Alphabet Inc. The Wall Street Journal previously reported Salesforce and Slack were in advanced deal talks.
When did Salesforce acquire Slack?
SAN FRANCISCO, July 21, 2021 /PRNewswire/ -- Salesforce (NYSE: CRM), the global leader in CRM, today announced it has completed its acquisition of Slack Technologies, Inc.
What is the combination of Salesforce and Slack?
The combination of Salesforce and Slack also brings together two of the software industry's most dynamic communities, creating an open and extensive ecosystem that will deliver the next generation of digital-first apps and workflows for business.
What is Salesforce 360?
Together, Salesforce and Slack will deliver the Slack-first Customer 360 that gives companies a single source of truth for their business, and a single platform for connecting employees, customers, and partners with each other and the apps they use every day, all within their existing workflows.
Where is Salesforce located?
Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM.".
Is Slack part of Salesforce?
As part of Salesforce, Slack will be positioned to accelerate and extend its mission to make work life simpler, more pleasant, and more productive. Slack will continue to operate under the Slack brand, driving forward a continued focus on its mission, customers, and community. Slack will continue to be led by CEO and Co-Founder Stewart Butterfield.
How much did Salesforce acquire Slack?
Salesforce Acquires Slack for $27.7B: Largest Acquisition to Date!
What is Slack Connect?
Slack Connect opens up a host of new possibilities for companies to work with one another through shared channels.
What is Salesforce Anywhere 2020?
Salesforce Anywhere, new for 2020, aimed to bridge collaboration gaps for teams working remotely. Anywhere’s main values were the ability to launch instant messaging and video chat from Salesforce records and fields. Salesforce Anywhere later combined with Quip capabilities.
What is Salesforce meeting?
Virtual-first Sales Cloud followed closely, which includes Salesforce Meetings, a video meeting management system that lays atop your preferred video call provider (Zoom, Google Hangouts), and Einstein Call Coaching for Video (part of Salesforce High Velocity Sales).
When did Salesforce chatter come out?
The social enterprise vision goes as far back as 2009 when Benioff unveiled Salesforce Chatter.
When was Quip acquired?
Along came Quip, acquired in 2017 – “a combination of Slack and Google docs rolled into one” ironically, was how Helen describes Quip in her overview article, “for simplicity it’s a Word Processing app, but a pretty cool one at that, especially the ways it can be used and how it integrates with your Salesforce org”.
Can Slack be used to update Salesforce records?
Tighter integration with Salesforce records: the current Slack connector can fetch data from Salesforce records and make updates, but there’s room to tighten that whole user experience.
When did Salesforce buy Slack?
When the companies first announced the purchase back in December 2020 , they said Slack founder and CEO Stewart Butterfield will continue to lead the messaging service as a unit within its new parent organization.
Is Slack a messaging service?
While Slack has become synonymous with messaging service for businesses following its launch in 2019 , it suffered from losses last year after Microsoft positioned its Teams app as a competing product in the middle of the pandemic.
