![]() The system connects to companies’ other applications in an effort to streamline corporate work flows. The company has sought to emphasize that it’s more than just an office messaging platform where employees chat using memes, GIFs, and emojis. Slack had been one of Silicon Valley’s most-talked about unicorns, raising about $1.3 billion in total funding, and gaining a valuation of $7.1 billion in a funding round in August 2018. The company reported its net loss widened to $360 million, or 98 cents a share, from $31.9 million, or 26 cents, in the period a year earlier. The stock has climbed 20% to $31.07 since the company went public, though it also has dropped about 20% from its closing high of $38.62 on its first day of trading June 20. Slack’s shares fell about 15% in extended trading after the earnings release. The thing that we do is focus on the value we’re creating for customers. “The rate of growth as you get larger is going to go down,” Butterfield said in an interview. Slack will have to maintain soaring growth to please investors while competing against the world’s largest software maker, Microsoft, as well as Alphabet and Facebook. While there is a free version of the company’s software, Chief Executive Officer Stewart Butterfield has sought to increase the number of large companies that pay to use the workplace communications product. Slack reported results for the first time since completing a direct listing on the New York Stock Exchange in June that made the software maker a publicly traded company. ![]() Slack reported an adjusted loss of 14 cents a share for the quarter, compared with analysts’ estimates of 19 cents. In the period ended July 31, sales jumped 58% to $145 million. ![]() Analysts, on average, estimated $154.2 million, according to data compiled by Bloomberg. Revenue will be $154 million to $156 million in the fiscal third quarter, reflecting a year-over-year increase of 46% to 48%, the San Francisco-based company said Wednesday in a statement. ![]()
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