Messaging apps that have become a vital piece in the workplace have been increasing their valuation in the stock market, and the bigger players want a piece of them.
These apps have proven their sustainability and worth to their huge community of users. They have evolved from providing avenues of conversation to become a platform that creates organization and order for entire layers of emails, chats, and file exchanges. In creating a structure that is flexible and user-friendly which hundreds of online teams can use to do their project management, they have helped boost office productivity while strengthening staff collaboration and cooperation.
For example, as reported by Reuters, the very popular Slack has been attracting hordes of curious buyers. The latest of which is Amazon which is said to be mounting a takeover. Slack first raised $500 million during its initial phases. Since then, it has grown in leaps and bounds. Its $3.8 billion valuation of last year has since increased to $9 billion.
What sets Slack apart from its counterparts is its smart integration of other frequently-used workplace applications into its systems. These include Salesforce, a business application for sales teams, and Microsoft’s Skype. Slack users who also belong to Salesforce and Skype communities now do not have to switch off these apps. Instead, they can coordinate the information and work that is being done on all three platforms.
Meanwhile, another messaging app which is heavily favored by Wall Street financiers has jumped from the million-dollar category to reach a $1 billion valuation. As reported by TechCrunch, Symphony has been designed specifically to make efficient the communications and work processes of banking and other financial institutions.
About 200,000 professionals and business leaders in these sectors are users of Symphony. The top 15 financial institutions in the United States are crucial partners. Symphony’s management has been considering extending its services to related sectors like legal and accounting. In the meantime, investors from as far as Asia want to buy into its shares.
Not all software IPOs are created equal
It's never a good idea to pour money into a company just because it's a tech company. Not every company...
How are sustainable labels awarded and what they stand for
There is no shared definition of the concept of "sustainable finance", which leaves a wide margin of interpretation when it...
B2B only: Spotcap sells credit business to Ferratum
The Spotcap-Ferratum deal is further proof that the German fintech industry is being shaken up in the corona crisis, at...
Domestic demand versus export demand: which is better?
Palm Oil closed lower on ideas of decreasing production and private reports of weaker demand. It is seasonally a time...
What is happening with the American Capitalism
Unsurprisingly, Wall Street is once again clamoring for another shot of heroin because all those trillions of dollars that were...
Featured5 days ago
Which fintech company raised the most funds in Q3 2020?
Crypto6 days ago
Ripple’s CTO sells 40,000 Ethereum for $1 per token
Africa3 days ago
Fruitbox Africa: Frankfurt investor and Siemens to create jobs in Ethiopia
Business6 days ago
How to grow your small business through Amazon advertising