![]() In fiscal 2019, Slack had calculated billions of $517.0 million from 88,000 paying customers, an average of $5,875 per customer. The free version is much less robust than the paid subscription, which allows customers to integrate third-party and internally-developed apps on the Slack platform. If you’re a glass-half-full type of a person it’s hard not to consider what would happen were Slack to convert a large chunk of the 500,000 organizations using its free version. So, it’s easy to see that Slack is growing at a fast pace, which is an attractive feature of the Slack IPO. Two years earlier at the end of fiscal 2017, it had just 135 customers paying more than $100,000 in ARR, a compound annual growth rate of 100.4%. To assess how it’s doing with large businesses, Slack keeps track of the number of customers paying more than $100,000 in annual recurring revenue or ARR.Īs of April 30, it had 645 large customers, which accounted for 43% of its revenue. In the past three years, annual revenues grew from $105.2 million in fiscal 2017 to $220.5 million in 2018, and $400.6 million in 2019, a compound annual growth rate of 95%. Slack’s paid subscription charges a monthly or annual fee based on the number of users. I don’t see the big deal about its platform, but given more than 500,000 organizations use Slack’s free subscription plan and another 95,000 companies including 65 from the Fortune 100 use its paid subscription, the evidence suggests that it’s gained plenty of traction with business people around the world.Īmazingly, during a single week in January, more than a billion messages were sent over the Slack platform. I’m no techie, and yet even I’ve used Slack for some of my writing engagements. ![]() One of the things that Slack has going for it is its familiarity. If you’re looking to pick up some Slack stock, here are what I believe to be the pros and cons of owning its shares.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |