Slack valued at $5.1 bln after new funding led by SoftBank: Reuters
Software startup Slack Technologies Inc said it raised US$250 million from SoftBank Group Corp and other investors in its latest funding round, boosting the company’s valuation to US$5.1 billion, Reuters reported. The latest fundraising, led by SoftBank through its giant Vision Fund and joined by Accel Partners and other investors, lifted Slack’s total funds raised to US$841 million, the enterprise messaging operator said in an e-mailed statement. The fund provides resources which will help Slack to run as a cash-generating company and the raise will reduce its dependence on outside financing, Slack CEO Stewart Butterfield said. San Francisco-based Slack, which has an office in Vancouver, was launched in 2014 by Butterfield, a Canadian entrepreneur.
