Tuesday, 19 September 2017
Slack gets slice of SoftBank’s $100 billion tech bounty
Slack Technologies Inc. closed a $250 million funding round led by SoftBank Group Corp.’s Vision Fund, the company said Sunday.
The financing round values the workplace chat service operator at $5.1 billion, up from $3.8 billion the last time. The Vision Fund is joined by Accel and other investors, Slack said. Bloomberg reported on the latest funding in July.
The San Francisco-based startup said the money is for “operational flexibility,” not for a particular use, and added that it still has much of the $591 million it already raised. At its first user conference on Tuesday, the company announced an expansion of its service to work in German, French, Spanish and Japanese. It also said that it had reached $200 million in revenue from subscriptions.
SoftBank’s Vision Fund raised almost $100 billion this year and is blanketing the venture capital market and tech sector with the money. It invested $4.4 billion in shared-office company WeWork Cos. in August, and is mulling an investment in Uber Technologies Inc. of up to $12 billion with three other investors, Bloomberg has reported.
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