Today’s deal comes after Salesforce’s purchase of Quip in 2016 for $750 million. Someone could scoop up Slack before it IPOs What’s more, it also facilitates external communication with customers and partners, something that should be quite useful for a company like Salesforce and its family of offerings. Personally, I believe this is the most strategic combination in the history of software, and I can’t wait to get going,” Butterfield said in a statement.Įvery worker at every company needs to communicate, something that Slack can ably empower. “As software plays a more and more critical role in the performance of every organization, we share a vision of reduced complexity, increased power and flexibility, and ultimately a greater degree of alignment and organizational agility. Slack CEO Stewart Butterfield was no less effusive than his future boss. Together, Salesforce and Slack will shape the future of enterprise software and transform the way everyone works in the all-digital, work-from-anywhere world,” Benioff said in a statement. Salesforce co-founder and CEO Marc Benioff didn’t mince words on his latest purchase. Rumors of a pending deal surfaced last week, causing Slack’s stock price to spike. “While delivering incredible growth at scale, we’re committed to consistent margin expansion and cash flow growth as part of our long-term plan to drive both top and bottom-line performance,” Salesforce CEO Marc Benioff said.ĬRM Price Action: Salesforce shares were up 3.53% to $173.81 on Tuesday, versus a 52-week range of $154.55 to $311.75, according to Benzinga Pro.Salesforce, the CRM powerhouse that recently surpassed $20 billion in annual revenue, announced today it is wading deeper into enterprise social by acquiring Slack in a $27.7 billion megadeal. The company mentioned future growth that could apply to the Slack pricing increases. Salesforce beat revenue and earnings per share estimates from the street in the first quarter. Customers who have free plans can pay to unlock the messages and file history that is hidden after 90 days.
The call for people to lock in rates with annual subscriptions could boost revenue for the upcoming quarters.Ĭustomers on free trial plans will also be encouraged to upgrade to a paid plan, which could boost paying subscribers. Why It’s Important: Slack is increasing the prices for its Pro plan and not for its Business Plus or custom enterprise plans, which could lead to more customers shifting to the other plans. Related Link: Salesforce Q1 Earnings Highlights: Revenue And EPS Beat, $42 Billion Remaining In Revenue Under Contract Customers on the free plan will lose access to files, messages and clips older than 90 days beginning on Sep.
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