Slack, which is the abbreviation of “Searchable Log of All Conversation and Knowledge” in English; It means limp, lethargic and lazy. On the contrary, the channel-based messaging platform is very useful and now widely popular among companies, teams, workplaces, and individuals who want to be part of a business community.
Slack is an app that allows two kinds of messaging. The first of these; channels list. You can join channels owned by the company or institutions and start messaging. The other is; classic private messaging. On both kinds of messaging, you can share files, search chat history, connect apps, and make Slack calls as voice or video calls with any other member of the workplace.
In this article, we have collected the latest revenue and usage statistics for Slack, the popular channel-based messaging platform.
Founded Date: 2013
Founders: Stewart Butterfield, Cal Hendersen
Headquarter: San Francisco
Offices: San Francisco, New York, Chicago, Denver, Toronto, Vancouver, Dublin, London, Paris, Munich, Melbourne, Sydney, Osaka, Tokyo, Pune
Number of Employees: 2750+
Crunchbase Profile: Profile Link
Google Play: Store Link
App Store: Store Link
Slack Revenue Statistics (2020)
|Fiscal Year||Total Revenue|
|FY2020||$630.4 million (up 57% YOY)|
|FY2019||$400.6 million (annual growth of 82%)|
|FY2018||$220.5 million (annual growth of 110%)|
- Slack shares rose almost 38% and Slack’s market value exceeded $20 billion on November 25, following the news on Slack’s acquisition by Salesforce.
- In the second quarter of 2020, Slack’s total revenue was $215.9 million, up 49% year-over-year. (Slack)
- Its GAAP gross profit for the second quarter of 2020 was $187.5 million, or 86.8% gross margin. (Slack)
- Non-GAAP gross profit for Q2 2020 was $190.9 million, or 88.4% gross margin. (Slack)
- GAAP net loss per basic and diluted share was $0.13. Non-GAAP net loss per share was $0.00. (Slack)
- Net cash provided by operations was $14.5 million, or 7% of total revenue, compared to cash used in operations of $0.3 million, or 0% of total revenue, for the second quarter of fiscal year 2020. Free Cash Flow was $10.8 million, or 5% of total revenue, compared to $(7.9) million, or (5)% of total revenue for the second quarter of fiscal year 2020. (Slack)
- In the third quarter of 2020, Slack expects a total revenue of $222 million to $225 million with a growth rate of 32% to 33% year-over-year.
- For the fiscal year 2021, Slack expects a total revenue of $870 million to $876 million, up 28% to 39% year-over-year.
- The average revenue per user is expected to amount to $13.8 by 2025, according to Statista.
Slack Usage Statistics (2020)
|Date||Number of Paid Slack Customers|
|FY 2021 Q2||+130,000 (up 30% YOY)|
|FY 2021 Q1||+122,000 (up 28% YOY)|
|FY 2020 Q4||+110,000 (up 25% YOY)|
|FY 2020 Q3||+105,000 (up 30% YOY)|
|FY 2020 Q2||+100,000 (up 37% YOY)|
|FY 2020 Q1||+95,000|
- As of November 2020, Slack has more than 12 million daily active users in over 150 countries. (Slack)
- According to Slack, 65 of Fortune 100 use Slack as their company messaging platform.
- In the second quarter of 2020, the number of paid Slack customers was over 130,000, up 30% year-over-year, Slack says.
- In Q2 2020, 985 paid Slack customers had greater than $100,000 in annual recurring revenue, an increase of 37% year-over-year. For the same quarter, the company reported 87 paid customers with more than $1 million in annual recurring revenue, an increase of 78% year-over-year.
- Slack reported a 125% net dollar retention rate for the second quarter of 2020.
- In January 2019, Slack reported that it reached 10 million daily active users.
- On Slack, 1.5 billion messages were sent weekly.
- On a typical workday, users at Paid Customers averaged nine hours connected to Slack through at least one device and spent more than 90 minutes actively using Slack. (Slack IPO)
- Slack users, whether on a free or paid subscription plan, and their collective active use of Slack for the week ended January 31, 2019 exceeded 50 million hours. (Slack IPO)