The company has a solid ecosystem of cloud applications that could make it a strong market leader. This acquisition could put Salesforce in a unique position that allows it to have an even more competitive advantage. Slack has set itself apart with its ability to integrate with other enterprise software. While yesterday’s outage might not have shown Slack can always meet that need, it’s still is seen as a valuable tool to many free and paid users. Now more than ever, the need for an easy and effective platform for businesses that are working remotely is increasing. The company that does it the best will see massive user growth. Microsoft’s Teams product has been competing with Slack in the market, and Microsoft has been increasing its efforts due to the high demand for a platform that’s seamlessly integrated. It would give the company the chance to ramp up competition with its rival Microsoft (NASDAQ: MSFT). However, this deal was also something that Salesforce was hoping for. Slack needed this Salesforce deal to maintain its valuation and continue on a profitable path. Not to mention, it entered 2020 losing about 40% of its value since it went public in April 2019. Slack has a history of mishaps like this. Personally, I believe this is the most strategic combination in the history of software, and I can’t wait to get going.īoth companies were ending 2020 to high praise and investor excitement, so Monday’s mishap wasn’t ideal. Slack’s CEO, Steward Butterfield, also joined in the praise of this perfect union:Īs 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. Together, Salesforce and Slack will shape the future of enterprise software and transform the way everyone works in the all-digital, work-from-anywhere world. In a statement, Salesforce co-founder and CEO Marc Benioff said: Salesforce (NYSE: CRM) Sets Deal to Acquire SlackĮarly in December, Salesforce surpassed $20 billion in annual revenue, and it was rumored that there was a pending deal between the companies, which at the time, sent Slack’s shares soaring. This wasn’t exactly the high note on which Slack wanted to start 2021, especially after the announcement on December 1, 2020, that the cloud-based software company Salesforce (NYSE: CRM) would be buying Slack for over $27 billion.Īfter getting your report, you’ll begin receiving the Wealth Daily e-Letter, delivered to your inbox daily. It’s been a tool that has become particularly useful and important during the COVID pandemic. Slack has more than 10 million users and over 750,000 companies use Slack as a service. You never realize how much you rely on one tool to communicate with your company and co-workers until it’s gone. This outage came at a time when most people on the East Coast were logging on and ready to get back to work. All hands are on deck on our end to further investigate. We’re continuing to investigate connection issues for customers, and have upgraded the incident on our side to reflect ana outage in service. Not only were connections and messages impacted search, link previews, apps/integrations/APIs, posts/files, workspace/org administration, login/SSO, notifications, and calls were all being affected: EST that acknowledged the outage was more significant than it originally stated. Slack sent out another update around 11:20 a.m. Our team is investigating and we’ll follow up with the more information as soon as we have it. EST when Slack released this statement:Ĭustomers may have trouble loading channels or connecting to Slack at this time. This was most likely not the way the company wanted to start the new year. The popular messaging and work collaboration platform unfortunately was feeling that fatigue when it had a global outage early Monday morning. Without a doubt, returning to work after the winter break hit differently for people who are continuing their work-at-home routines and trying not to let the fatigue set in too deeply. A lot of companies are approaching almost a year of working remotely because of the COVID pandemic, having their employees constantly adjusting how they work. Perhaps it convinced some to take the day off and go back to bed.īelieve me, I know how hard it is getting back into the swing of things when coming back from winter break - that’s of course if you had the luxury of taking a break. People who were returning to work after having the last week or two off for the holidays saw this outage as a sign to make a slow transition back to the workday. It was the first full workday of 2021 for most, and one of the most commonly used work messaging and work collaboration platforms went down. Slack Technologies (NYSE: WORK) started the new year with a global outage and shares down.
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