#Slack acquisition software#

And thatвЂ™s what Salesforce hasВ - they have the procurement officers, they have the finance people. By joining Salesforce, Slack has unlocked an inroads to the Fortune 500 and beyond through cross-selling and bundling.ДЄaron Levie, the Founder and CEO of Box, said in an interview: вЂњThe reality with the enterprise is that you can have the best product, but thatвЂ™s not good enough. That might not sound like a big difference, but each of those contracts is worth millions of dollars. Today, 61 of the Fortune 100 companies use Slack - which is impressive - but consider that 90% of the Fortune 500В are Salesforce customers. Margins are bigger, switching costs are higher, and thereвЂ™s upsell opportunities galore (training, expansion, upgrades, etc). Needless to say, the enterprise is where the big bucks are to be made. The top 1% of SlackвЂ™s customer base (by contract value) accounts for 50% of SlackвЂ™s total revenue thatвЂ™s ~$450 million alone ( source). Imagine the clarity that would bring to an organization and its employees. ItвЂ™s a 360 degree view of the end-to-end customer journey.Д¬ombined, Salesforce and Slack will be the all-in-one, source of truth for all of a companyвЂ™s interactions:В both external ones (customers) and internal ones (employees). The invoice / record-keeping from Finance (Stripe).The customerвЂ™s usage of the product (Looker).The Support tickets that the customer had (Zendesk).The tasks to complete the customerвЂ™s onboarding (Asana).The implementation questions theyвЂ™d asked the Product team (Slack).The notes from their last call with them (Salesforce).The emails theyвЂ™d sent to a prospect (Gmail).Imagine: in one, unified interface, a Sales rep could see: Well, the value proposition is the exact same the interactions are just with individuals outside of the organization. ThatвЂ™s the power of centralized internal knowledge and relationships. The relevant conversations youвЂ™ve had with their teammates (Slack).What projects theyвЂ™re working on, and the status of them (Asana / Jira).What teams theyвЂ™re on, and their roles (org.Who your co-workers are (background, interests, etc.In your onboarding, you could head to this re-imagined corporate directory to see: Imagine being an employee who has just joined a new company. The way we worked had shifted from writing emails, to writing posts, threads, comments, and reactions -spread across multiple channels. No longer was вЂworkвЂ™, and everything it was comprised of - decisions, questions, action items - isolated in individual email inboxes it was spread across Google Drive, Confluence, Asana, etc. And it was no longer just messaging it was file sharing, collaboration apps, HR tools, metrics & reportingвЂ¦ and so on. We saw the advent of a unified communications platform, via channel-based messaging. That meant email was being used for: file sharing, to-doвЂ™s, collaboration, project management, and tons more. (And many still do!) So everything was always in one place. Well, traditionally, companies did all their internal communication over one channel - email. But what about a companyвЂ™s own employees? Not to mention all the artifacts that these interactions were comprised of - documents, spreadsheets, presentations, etc.

#Slack acquisition software#

The reason CRM software (like Salesforce) was necessary in the first place was because a companyвЂ™s interactions with its customers were spread across multiple channels: emails, phone calls, in-person meetings, conferences / tradeshows, etc. The process of a company managing interactions with its existing, past, and potential customers. Traditionally, CRM (customer relationship management) software has been about, well, managing oneвЂ™s customers. In this post, IвЂ™ll dig into the three areas of opportunity that a Salesforce + Slack acquisition unlocks: So, why did Salesforce acquire Slack - and more importantly, why did Slack decide to sell to Salesforce? ItвЂ™s clear this was not about вЂbailing outвЂ™ a company this was a strategic partnership to build the operating system for work. ItвЂ™s a seismic move in the workplace collaboration space, which has surged with the rise of remote work and virtual communication. Earlier this week, Salesforce acquired Slack for $27.7 billion.