• About
  • Contact
Monday, January 18, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home News

Salesforce Inc. Is In Talks To Acquire Workplace Application Slack

Pritish raj by Pritish raj
November 26, 2020
in News
2 min read
0
Salesforce Inc. Is In Talks To Acquire Workplace Application Slack
Share on FacebookShare on Twitter

Salesforce.com Inc, a cloud-based software firm, is in talks to acquire Slack Technologies Inc’s workplace messaging app as it aims to extend its services to companies, people familiar with the matter said on Wednesday.

In the face of fierce competition from Microsoft Corp’s teams and other workplace applications, Salesforce’s plan comes as Slack struggles to completely capitalize on the transition to remote work during the COVID-19 pandemic.

Slack shares finished trade at $29.57 on Tuesday, well below the $42 peak, they hit last year on their first day of trading.

The potential acquisition is seen by Salesforce as a logical extension of its enterprise offerings, the sources said. It was not possible to know the price it paid for Slack, although one of the sources said Salesforce would pay cash for the deal rather than use its stock as currency.

An agreement could be reported before Slack announces quarterly earnings on Dec. 9, one of the sources said if the talks end successfully.

Shares in Slack Technologies soared 24 percent to $36.58, giving the firm a $21 billion market capitalization, while Salesforce fell 2.7 percent after the Wall Street Journal first announced that the two firms had held deal talks.

To keep their employees connected during the pandemic, Slack has benefited from businesses relying more on information technology systems.

According to analytics company Sensor Tower, its software has been installed about 12.6 million times so far this year, up approximately 50 percent from the same timeframe in 2019.

But Slack has been pressured by the economic fallout of the virus outbreak to offer discount and payment concessions to several of its customers who had to make cost cuts.

Some businesses have also turned to teams looking to save money, which comes with many of Microsoft’s office software packages.

“I think Microsoft Teams has been able to capitalize on the opportunity better than Slack, partly because they give it away for free as a bundle,” said Rishi Jaluria, an analyst at DA Davidson and Co., a research company.

“Now Slack realizes that they might be able to get greater penetration as part of a larger company.”

In the three months to the end of July, Slack’s billing rise, a key indicator of future sales, slowed.

In the meantime, Salesforce has prospered financially through the pandemic. It increased its annual sales estimate in August as the pandemic sparked demand for its online business software that supports remote work and commerce.

Through acquisitions, Salesforce has expanded its cloud business and invested more than $16 billion last year to fend off competition from competitors such as Oracle Corp and German rival SAP.

Previous Post

Unacademy Raises Fresh Funding From Tiger Global At $2 Billion Valuation

Next Post

Sonu Sood's Pravasi Rojgar Receives $34Mn Funding From GoodWorker

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

Under Pressure WhatsApp Delays its Controversial New Policy Update
News

Under Pressure WhatsApp Delays its Controversial New Policy Update

January 16, 2021
IndiaMart Market Cap Hits $3 Billion
News

IndiaMart Market Cap Hits $3 Billion

January 15, 2021
Digit Insurance Becomes the first Unicorn of 2021 with a total valuation of $1.9 Billion
News

Digit Insurance Becomes the first Unicorn of 2021 with a total valuation of $1.9 Billion

January 15, 2021
Trump Administration Blacklists Smartphone Giant Xiaomi and other 10 Chinese Companies
News

Trump Administration Blacklists Smartphone Giant Xiaomi and other 10 Chinese Companies

January 15, 2021
Rise of Regional OTT Platforms in India during the Pandemic Time
News

Rise of Regional OTT Platforms in India during the Pandemic Time

January 15, 2021
Ex-Star India Chairman Uday Shankar Joins Lupa Systems CEO for New Venture
News

Ex-Star India Chairman Uday Shankar Joins Lupa Systems CEO for New Venture

January 14, 2021
Next Post
Sonu Sood’s Pravasi Rojgar Receives $34Mn Funding From GoodWorker

Sonu Sood's Pravasi Rojgar Receives $34Mn Funding From GoodWorker

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

LIC-IPO-nextbigbrand.in

LIC may surpass Reliance Industries, TCS to become India’s most valued firm after proposed listing

1 year ago
Mass OYO layoffs - Next Big Brand

Another Mass OYO Layoffs. 5000 Employees Are to Lose Their Jobs Soon

11 months ago
interbrand

Facebook slides out of the Top 10 Best Global Brands List: InterBrand

1 year ago
OnePlus-7-Pro

OnePlus Generates ₹500 Crore Revenue In 2 Days Of Amazon Sale

1 year ago

FOLLOW US

  • 22.2k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Lava Mobiles: Planning a Strong Comeback in the Smartphone Industry
  • Under Pressure WhatsApp Delays its Controversial New Policy Update
  • IndiaMart Market Cap Hits $3 Billion

Instagram

Follow Me!

Latest News

Lava Mobiles: Planning a Strong Comeback in the Smartphone Industry

Lava Mobiles: Planning a Strong Comeback in the Smartphone Industry

January 17, 2021
Under Pressure WhatsApp Delays its Controversial New Policy Update

Under Pressure WhatsApp Delays its Controversial New Policy Update

January 16, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.