Slack, the Startup Has Raised $160 Million as Funds

Posted: Apr 21,2015

Slack, builds software for bettering team communication for the corporate sector. This messaging app aims to replace email. A month ago the investors have valued the start up at $1billion.But recently the company has claimed to have raised $160 million from the investors. Presently, the company is one year old and the application it has launched in the month of February 2014 is utilized regularly by more than 75,000 users and has an excess of 200,000 paid seats. According to the company the number of daily users and paid seats has increased immensely from the starting of the year. The San Francisco based start up firms has tools that assists people to exchange messages, videos and images and its latest investors include Horizons Ventures, Digital Sky Technologies, Index Ventures, Spark Capital Growth and Institutional Venture Partners. Slack, integrates services like Twitter, Drop box and Google Drive into its applications. Keeping in view all the previous records this is the quickest growing business application of all time period. But there is a note of caution in this development of a possible tech bubble.

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