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.
Cryptocurrency news of the week you can’t miss
One of the most important events in the history of Bitcoin will be May halving in 2020. The award of...
Africa attracts investors
The fact is: Africa, which for a long time concluded agreements primarily with China, is attracting more and more foreign...
German startup invested $7 million in medical cannabis
Berlin startup Demecan has completed a Series A financing round of €7 million, invested by btov Partners and a single...
The global cannabis market will be worth $75 billion by 2025
The global legal cannabis market forecast reaches $75.6 billion by 2025, with an average annual growth rate of 28.3% over...
Biotechnology is on the trail of cancer
More and more people are getting cancer. In Germany alone, doctors diagnose around half a million new cancer patients every...