Slack Technologies (NYSE: WORK) was featured in a recent analysis report that detailed the company’s performance in comparison to its two closest competitors, Microsoft Teams (NASDAQ: MSFT) and Zoom (NASDAQ: ZM). The report, written by LikeFolio Founder Andy Swan, reads, “Last quarter, Slack reported revenue +50% YoY and added a record 12,000 net new paid customers, but shares sank after the company failed to deliver blowout level results comparable to Zoom’s report earlier in the week. Slack is often compared against Zoom and Microsoft Teams. What does LikeFolio data say? Consider the 30-day Moving Average of Purchase Intent (representing new download and sign-up mentions) for each below: Slack: +24% YoY; Microsoft Teams: +250% YoY; Zoom: +2,013% YoY. From a purely growth perspective, Slack is not registering the same volume boom as either peer. However, Slack usage mentions increased 19% in 21Q2, suggesting new users that came on board during the quarantine surge are sticking around. That’s big for Slack’s usage-based billing model.”
About Slack Technologies
Slack has transformed business communication. It’s the leading channel-based messaging platform, used by millions to align their teams, unify their systems, and drive their businesses forward. Only Slack offers a secure, enterprise-grade environment that can scale with the largest companies in the world. It is a new layer of the business technology stack where people can work together more effectively, connect all their other software tools and services, and find the information they need to do their best work. Slack is where work happens. Slack and the Slack logo are trademarks of Slack Technologies, Inc. or its subsidiaries in the U.S. and/or other countries. Other names and brands may be claimed as the property of others. For more information, visit the company’s website at https://slack.com/.
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