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Home / Business / Slack's updated economy and investor day pitch: Switching email

Slack's updated economy and investor day pitch: Switching email



Stewart Butterfield, co-founder and CEO of Slack Technologies Inc., speaks during an event in San Francisco, California.

David Paul Morris | Bloomberg | Getty Images

Business Notification Service Slack briefed investors on Monday when the company expects to be publicly listed on the New York Stock Exchange later this year.

Slack gave up-to-date information in a change of the original public offer archive in front of the investors' path. For the quarter ending April 30, Slack introduced revenue of $ 1

33.8 million and $ 134.8 million, up from $ 80.9 million over the same period a year ago. Slack's net loss increased to around $ 39 million in the quarter, from $ 26.3 million.

The service, which primarily targets businesses, said it has more than 10 million users from January.

Stewart Butterfield, co-founder and CEO of Slack, made the case to investors replacing e-mail with Slack, changing the way employees in a company communicate.

"This shift is inevitable. We believe that any organization will switch to Slack or anything," Butterfield said in a presentation.

He also beat Slack as a software-focused company that believes that the world is "just in the beginning" of its addiction to software. In that essence, Butterfield liked Slack who eventually became a tool similar to the internet or power.

"The world will continue to use more and more software, and we carefully try to put ourselves in a position where the Slack company becomes more valuable as the world uses more software because Slack becomes the product more valuable to our customers as the customer uses more software," Butterfield,

Slack is the latest in a number of large technology companies that come to the public markets, but instead of a traditional IPO, the service will list their shares directly on the NYSE, which is the second major tech company in the process. Last year to choose a direct listing, after Spotify, Slack's ticker symbol will be SK.

Slack, like the recent IPOs in Lyft and Pinterest, will offer two classes of shares to consolidate the voting power of the top shareholders Slack's Class A share will receive one vote per share, while Class B will be entitled to 10 votes per share.

Disclaimer: Comcast Ventures, venture to Comcast, is an investor in Slack. Comcast owns CNBC parent company NBCUniversal.


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