![]() ![]() Salesforce last year acquired data analytics firm Tableau Software for $15.7 billion, in a bid to help companies better visualize and make use of their data. It sells cloud-based customer relationship management software, as well as other enterprise applications for services such as marketing and data analytics.Ī deal to buy Slack would likely mark Salesforce’s largest acquisition ever. Like Slack, Salesforce is also a software company that aims to improve business operations. And it has not yet turned a profit since its initial public offering last year.Ī Salesforce acquisition of Slack could be a sensible combination. The company does, however, face steep competition in the remote collaboration space, including from Microsoft The vaccine news is great for most stocks - unless you're Zoom (Photo by Olivier Douliery/AFP/Getty Images) Olivier Douliery/AFP/Getty Images She was previously working part time to support teachers when they needed to be absent from the classroom and now she helps them to build skills with new digital platforms so they can continue to teach in the best way for their students and their families.The middle school (grades 6-8) has most regularly been using Zoom and the lower grades have been using Zoom with parents. Her role in the school changed significantly when Coronavirus hit. In its most recent quarterly earnings report in September, the company said it had more than 130,000 paid customers, up 30% year-over-year.Ī lower school substitute teacher works from her home due to the Coronavirus outbreak on Apin Arlington, Virginia. Slack’s stock is up more than 59% since the start of 2020. ![]() The pandemic has accelerated Slack’s growth as many companies scramble to manage remote teams. Slack is a workplace communications tool that has long been popular among tech companies, media firms and retailers - it is used by Amazon ![]() (CRM) immediately responded to requests for comment. As of Wednesday afternoon, Slack’s stock price reached more than $36 and its market cap grew to nearly $21 billion. The report also notes that there is no guarantee the talks will lead to a deal. The talks were first reported by the Wall Street Journal.Īny deal would likely value Slack at more than its market capitalization of $17 billion earlier Wednesday, according to the Journal. Salesforce shares were down more than 4% on the news. Its potential Slack acquisition would be the most expensive in the company’s history, based on Slack’s market cap.Slack shares shot up as much as 28% Wednesday, despite being halted twice for volatility, following a report that Salesforce has been in talks to acquire the workplace messaging app. The company has been spending big bucks in recent years, including acquiring data-analytics company Tableau Software for $15 billion last year. Salesforce was founded 21 years ago and has established itself as a powerhouse in the business world via its cloud-based work software. Wedbush analyst Dan Ives told CNBC the deal would be a “game-changer” for Salesforce and CEO Marc Benioff because it would “further build out its collaboration engine and product footprint as cloud spending ramps up across the enterprise.”Īlso Read: Slack 'Confidentially' Files for Its IPO Even with the drop, Salesforce is still up 47% on the year and is worth about $225 billion. Salesforce’s investors didn’t appear as excited about the news, however, with the San Francisco-based company’s share price dropping 5% after the news came out. Those gains pushed Slack to a market cap of $22.1 billion. The news sent Slack’s stock price rocketing 31% higher to nearly $39 per share. Terms of the deal were not disclosed, although the WSJ said the deal would likely be worth more than $17 billion. The Wall Street Journal was the first to report the news, and CNBC followed up afterwards. Slack, the popular work messaging platform, could be sold to Salesforce as early as next week, according to multiple reports on Wednesday. ![]()
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