![]() ![]() It’s simple, they made using the platform fun. So how did Slack, an independent messaging service, surpass the popularity of applications like Microsoft Teams and Google Hangouts? ![]() Remote collaboration software became essential to businesses and their productivity, and tech companies fought to have their application become the digital headquarters of remote work. With stay at home orders being issued worldwide in March 2020, non-essential employees were forced to work from home, a new normal many were not ready for. By contrast, Facebook has more than 2 billion users.It is no secret that the COVID-19 Pandemic completely changed the way we work. That includes more than 10 million daily active users, who collectively spend more than 50 million hours in active use of Slack in a typical week, on either a free or paid subscription plan, according to the company. Slack says 600,000 organizations in more than 150 countries use Slack. Users start "channels," or a group chat with a specific topic, rather than starting an email string about a subject. Slack aims to replace traditional work communication like email with its own messaging platform. While there is no set price for the listing, Slack said in a regulatory filing that the volume-weighted average price of shares that changed hands in the private market from February through May was $26.38. In such cases, a company doesn't hire underwriters or sell new shares to raise money it simply lists existing shares. Slack's initial public offering is using an unusual approach known as a direct listing. The San Francisco company's shares debuted on the New York Stock Exchange at $38.50 and rose $1.70, or 4.4%, to $40.20 in midday trading. ![]()
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