Salesforce has been contacted for comment. Elliott also buys businesses and is the owner of the UK bookshop chain Waterstones. In 2012, a dispute with Argentina over sovereign debt owned by Elliott led to the temporary impounding of an Argentinian naval ship in Ghana. In the same year Elliott accused the UK energy firm SSE of having a “lacklustre” business plan. In 2021 the British drugmaker GlaxoSmithKline, now known as GSK, resisted attempts by Elliott to make its chief executive, Emma Walmsley, reapply for her job before the company underwent a restructuring. However, Elliott, under the leadership of founder and co-chief executive, Paul Singer, is known for wielding the aggressive tactics associated with activist firms. Such is the dog-eat-dog world of tech.Cohn, who has served on the boards of several technology companies including Twitter and eBay, called Salesforce “one of the pre-eminent software companies in the world”, adding that he has “developed a deep respect for Marc Benioff and what he has built”. Instead, that public life has been cut short by a huge check. At the time it felt like its debut was the start of a long tenure as an indie company. The company was famous, or as famous as an enterprise software company can be. But while the Glitch-to-unicorn story appears simple, Slack has always faced entrenched competition from the likes of not only Microsoft, but also Cisco, Facebook, Google and even Asana and .įor Slack, the path to the public markets was fraught with hype and outsized expectation. The company’s historic growth helped Slack raise more than $1 billion while private, earning an impressive $7 billion valuation before going public last year. While the game was ultimately a failure, the startup developed an internal messaging system in the process of building that company that later evolved into Slack. Slack was founded in 2013, but its origins go back to an online multiplayer game company called Glitch that was founded in 2009. It’s worth noting that Salesforce was interested in Twitter in 2016, the same year that Microsoft was reportedly interested in Slack, but eventually walked away from that deal when shareholders objected, not wanting to deal with the controversial side of the social platform. Quip brought to the SaaS giant a way of socially sharing documents, and when paired with the Slack acquisition gives Salesforce a much more robust social story to tell than its internal option Chatter, an early attempt at enterprise social that never really caught on. 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. 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.
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