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Slack Makes 11 New Investments

A Startup Investing in Startups!

 About Slack

Slack is still young since it started just 2 years back. However, now, the popular corporate chatroom startup Slack is backing other app startups with the help of its in-house venture arm. Recently, Slack Technologies Inc. invested around $2 Million in companies that can integrate with its platform. This messaging startup has a record of pouring $1.97 Million across 14 companies over the last seven months. Stewart Butterfield is the Founder and CEO of Slack.

Don’t know what is Slack? Here is a cool video for you-

The Investment Story

Those 11 new investments include Abacus, a data and behavioral analysis platform that automate expense reports and Konsus, a service that connects with on-demand freelancers. All these funding indicates that Slack is really keen on building a sustainable market for apps and software. Moreover, it is an opportunity for Slack to build another source of revenue. The messaging startup is hoping that these strategic investments will soon fetch them financial returns.

As per the reports by Bloomberg, Slack’s current value comes to $3.8 billion.

Takeaways:

  • Slack Technologies Inc. invested around $2 Million in companies that can integrate with its platform.
  • Those 11 new investments include Abacus, a data and behavioral analysis platform that automate expense reports and Konsus, a service that connects with on-demand freelancers.
  • All these funding indicates that Slack is really keen on building a sustainable market for apps and software.

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Startup-buzz Team is a collaborative group of entrepreneurs, researchers, writers and experienced professionals. Tied up together to bring the latest Startup Buzz going around the globe.

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