Workplace collaboration platform Slack has closed its long-rumored new round of fundraising, a $250 million round led by SoftBank’s Vision Fund as it seeks to beat back a growing list of competitors with deep pockets.
According to Bloomberg, Slack said it is still sitting on most of the $591 million it had previously raised. The latest round will give the company “operational flexibility.”
San Francisco-based Slack has been one of Silicon Valley’s hottest startups in recent years. But that success has drawn in numerous competitors, including Microsoft which launched Teams earlier this year; Atlassian Corp. has its HipChat service workplace collaboration; Google, which launched Hangouts Chat earlier this year; and Facebook, which is still pushing its Workplace service.
So, $250 million only looks like a lot of money until you look at the balance sheets of those competitors.
Still, according to Bloomberg, Slack has passed 9 million weekly Continue reading "Slack confirms it has raised $250 million at $5 billion valuation amid growing competition"
In an era where art is shared and streamed for free, Patreon offers new hope for turning content creation into a career. Illustrators, comedians, game makers, and musicians use Patreon to let fans pay a monthly subscription fee for special access to their work. In exchange, Patreon takes only a tiny 5% cut. With 50,000 creators and 1 million subscribers on board paying an average of $12 per… Read More
Today’s Stories Tinder’s new subscription, Tinder Gold, lets you see who already likes you Google unveils Advr, an experimental Area 120 project for advertising in VR Equal Rights Center sues Uber for denying equal access to people who use wheelchairs Waymo’s self-driving van hits the desert to see if it can stand the heat The latest in the Binary Capital blowup —… Read More
Keith Horwood wants to be known in tech circles as an agent for good, and he seems to be working toward that end with StdLib, his roughly two-year-old startup that abstracts away infrastructure using “serverless” architecture, allowing developers to write everything from simple functions to complex business logic, then deploy their code as scalable, fully documented web APIs. Read More
Travis Kalanick, who last night resigned from his post as CEO of ride-share giant Uber, has taken the blame for the company’s very long list of problems, from allowing a culture of sexual harassment to thrive, to skirting the law with its Greyball program, to mishandling the medical files of a customer raped by one of the company’s drivers (for starters). But many view the VCs… Read More
Freada and Mitch Kapor broke rank with typical investor silence in the face of scandals at their portfolio companies by publicly criticizing Uber in February, saying it was “toxi” and had “a culture plagued by disrespect, exclusionary cliques, lack of diversity, and tolerance for bullying and harassment of every form.” But today, the couple who invested in Uber starting… Read More
Reviewers have not been kind to Apple’s first TV offering, “Planet of the Apps.” Variety had a particularly entertaining, if biting, take, with writer Maureen Ryan likening the show to “something that was developed at a cocktail party, and not given much more rigorous thought or attention after the pitcher of mojitos was drained.” Earlier today, we talked with one… Read More