Slack stock price has skyrocketed in the past year and is set to grow even more! Slack is also one of the most popular collaboration hub platforms right now.
If you are a newbie to the team workspace, chances are that you have no clue what I am talking about.
Don’t worry, I’ve been there too.
The slack platform allows users to:
- send messages and share files
- add a number of integrations
- create your own custom emojis (if you want to get extra creative)
Now:
What is Slack and how does it work?
Due to the Covid-19 outbreak, Slack stock has gone over the moon, reaching stratospheric numbers. Slack’s mobility makes it an ideal way to communicate for people practicing remote work…
*cough, cough*
… social distancing.
Here are some stats and facts about Slack to warm you up:
Amazing Slack Statistics 2022 [Editor’s Choice]
- Retention rate for paying Slack customers is 98%.
- Slack is used by 12 million people daily.
- Slack has more than 2,000 integrations.
- 79% of businesses find that Slack improves their workspace.
- Teams say their productivity grows by 32% when using Slack.
1. The Slack stock price today is worth a massive £13.2 billion, with the Slack market cap being 2.26%.
(Source: Statista)
By comparison, Microsoft Teams (the biggest competitor of Slack technologies) has a market share of just 0.49%.
2. The Slack stock forecast for 2021 is expected to be $630.4 million.
3. Slack was worth almost $20 billion on its first day of trading.
(Source: Market Watch)
4. The slack stock market share has plunged by more than 43% since the company went public In 2019.
(Source: Market Watch)
Slack opened at $38.50 on June 20, 2019, and reached $42 on the same day. Just a few months later, the Slack stock price had fallen to $21.94, marking a 43% drop from its initial listing value.
5. According to the slack stock news, its annual net loss for 2021 is expected to be $154.2 million.
(Source: Slack HQ)
In comparison, the annual loss for 2019 was $138.9 million.
6. According to estimates by GP Bullhound, Slack is expected to generate revenue of around $4.22 billion U.S. dollars worldwide by 2025.
(Source: Slack HQ)
Slack is actually one of the fastest-growing SaaS companies in the world, reaching a $10M ARR in just a few months, and $100M in less than 3 years.
Slack user statistics
Slack’s users are the driving force behind all aspects of the application.
Channels, chats, integrations…All of this will go to waste if there is nobody using it.
Fortunately, there are, in fact, 12 million of those guys.
That means that Slack must have been doing something right ..right?
Let’s find out what it is.
Wise words by Stewart Butterfield, creator of Slack technologies.
To say that this concept is successful would be an understatement since Slack has a massive retention and satisfaction rate among its users.
Here are some mind-blowing slack stats that prove this.
7. In 2021, there are more than 12 million Slack daily active users.
(Source: Mashable)
Since Slack has a free version, 9 out of the 12 million users are taking advantage of the platform.
8. 90% of the slack users 2021 are using the free version of the app.
(Source: Slack HQ)
Statistically, this means that the slack users’ count that pays for the platforms is 3 million.
9. There are more than 750,000 organizations that use Slack in 2021.
(Source: Slack HQ)
Speaking of companies, small and medium-sized businesses with 10 to 50 employees and $1-10 million in revenue are most likely to use Slack as a cloud-based collaboration solution.
10. In the first quarter of 2021, Slack has gained over 122,000 paying customers, which is up 28% year-over-year.
(Source: Slack HQ)
2021 has been a whirlpool of unpleasant events – bushfires, Rona, WW3 speculations – you name it. But apparently, not everybody is complaining.
11. Slack users spend approximately 10 hours per week on the platform.
(Source: Kommando Tech)
That would be 10 hours of your work week, just messaging around. But don’t worry, it’s still work, right?
12. Slack is used in more than 150 countries globally.
(Source: Japan Times)
Considering the fact that there are 195 countries in the whole world, this is a pretty good number.
13. 65 Fortune 100 companies use Slack.
(Source: Slack HQ)
The Fortune 100 is a list of the 100 most successful companies in the United States.
14. The city with the biggest Slack users grow worldwide is New York, with 420,000 users.
(Source: Security and Exchange Commission)
This is enough people to fill a middle-sized European city.
But why is Slack so popular?
It must be the fact that Slack has a multitude of apps, workflows, and many community-built integrations that help employees to deeply engage with their business.
Teamwork makes the dream work and a company that uses Slack says a lot about its employees, but it also says a lot about the company itself. It’s one of the few products which various businesses enjoy to use.
Another popular Slack version is Slack for education, which often offers discounts to students and educational institutions.
Thanks to its versatility and slack integrations, the app can be used as a project management software, and not only as a team chat by larger businesses. All while being pretty successful at what it does:
15. 87% of Slack users share that the app improves professional and organizational communication in their company.
(Source: Security and Exchange Commission)
We define culture by the way people communicate and interact, as well as their focus and organization, and how decisions are made, and thanks to Slack all team members can communicate and work together.
16. 80.4% of Slack users say the app improves focus and organization as well as culture in the office.
(Source: Slack)
17. In 2021, the retention rate for Slack users is 90%, and for paid customers this rate is 98%.
(Source: Medium)
The retention rate is the percentage of customers you retain in a certain period, and it is one of the key metrics of the SaaS subscription industry, so if you want to organize your workspace, what are you still waiting for?
Slack Competitors
As we can see from the slack stock statistics, Slack is pretty successful at what it does. So naturally, like anything that provokes people’s attention, others try to follow in its footsteps. Slack is no exception, and there are plenty of applications that offer similar services to Slack.
Selecting the right collaboration tool for your company is crucial, and one must know what is out there on the market. Some apps excel in areas where Slack is lacking, while others are deficient in fields Slack is better in.
Sounds like a bit of a puzzle, no?
Let’s put the pieces together and find out – who competes with slack?
Microsoft Teams
First on our list of Slack competitors is Microsoft Teams. The most notable difference between the two applications is that the Slack download and mount process is a tad easier to mount and administrate, while Microsoft Teams requires a more dedicated process.
However, this is due to the fact that Slack is designed for smaller companies and teams, while Microsoft Teams is meant for very large businesses with a larger number of employees.
On the other hand, Microsoft Teams is excellent at integration with Office 365, so if your company is a subscriber, Microsoft Teams is probably your better option of the two. And speaking of integrations, there are some quite notable slack advantages in this area, since it can integrate with almost any app and software. It also has many Slack extensions, so it’s naturally better in this area.
18. Microsoft Teams has overtaken Slack, reaching 13 million daily users.
(Source: The Verge)
Compared to Slack’s 12 million daily users, this makes Microsoft Teams a direct slack competitor.
Chanty
Similar to Slack, Chanty is a software that lets you send messages and share files to boost communication and productivity in teams in all business segments.
Chanty vs. Slack
Slack and Chanty offer many of the same features like channels, threads, voice and video calling, and app integrations. However, Chanty is designed for and is better used by small and medium-sized teams or companies. On the other hand, the Slack for business version that the company offers is specifically designed for large businesses.
Fleek
Fleek is a collaboration software that combines free messaging with email, lightweight task management, and video calling. Even though Fleek is one of the free slack alternatives, there are some key differences between the two.
Slack vs. Fleek
In terms of communication, the Slack channel browser lets you do this only with people and Slack shared channels in your team. On the other hand, Fleep is an open network that lets you communicate with any other Fleep user and belong to several teams with the same account.
Additionally, the key differences between the two are that Fleep has a native Tasks feature for lightweight and contextual task management.
Blizz
Blizz is a free Slack alternative that is an easy to use online meeting and collaboration tool for remote or global teams. What is interesting to note about Blizz is that the app is accessible from any desktop or mobile device and that the platform supports online meetings for up to 300 people.
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