Office Room Mockup Slack scaled 1 scaled - Salesforce Acquires Slack For $27.7 Billion
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Salesforce Acquires Slack For $27.7 Billion

Salesforce as we all know, is the No.1 CRM company right now and just recently we heard they crossed the $20 billion mark in annual revenue. Today they made the big announcement of acquiring Slack for a mind blowing $27.7 billion.(yes $27.7 billion 😲)

Salesforce finally gets Slack

If you’ve been following the story you would know that Slack’s stock price skyrocketed after rumors of the acquisition last week.

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Salesforce CEO and co-founder Marc Benioff, commented on their newest purchased saying “This is a match made in heaven. Together, Salesforce and Slack will shape the future of enterprise software and transform the way everyone works in all-digital, work-from-anywhere world.”

On the other hand, Slack’s CEO Stewart Butterfield also commented saying that “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. Personally, I believe this is the most strategic combination in the history of software, and I can’t wait to get going.”

We can clearly see and say that Slack was very ripe to be plucked, considering the fact that they lost almost 40% of that valuation after going public in 2020.

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According to Google Finance and Yahoo, Slack was valued at over $25 billion which was quite on the high side though. But after the acquisition rumors their valuation went up by 48%.

One thing that really makes Slack standout from the rest is their ability to integrate with other enterprise software.

Recall back in 2016, Salesforce acquired document sharing platform Quip, for $750 million. Salesforce used Quip abilities to enhance it social document sharing, and now with the acquisition of Slack it going to be a more flexible experience with the CRM platform.

Also back in 2016 Salesforce showed some interest in acquiring social platform Twitter (that would have been a massive deal) but that didn’t work out because Salesforce said they weren’t ready to deal with the social platform’s controversial issues.

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Emmanuel
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