Slack Stock Statistics [27+ Amazing Stats To Chat About in 2020]


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 2020 [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.

Let’s get the party started:

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 2020 is expected to be $630.4 million.

(Source: Slack HQ)

This is $230 million more compared to 2019 when it was $400.6 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 2020 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.

slack stock quote from Stewart Butterfield

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 2020, 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 2020 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 2020.

(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 2020, Slack has gained over 122,000 paying customers, which is up 28% year-over-year.

(Source: Slack HQ)

2020 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 2020, 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.

G Suite

G Suite is a group of Google cloud, productivity, and collaboration apps, similar to Google Apps for Your Domain.

It’s also one of the slack partners that have launched a collaboration that lets all members of your workspace sign in to Slack using their G Suite accounts.

Flock

Flock is a communications platform developed in India that popped up on the market a year after the initial release of Slack. After 2014, the app developers claim that the platform witnessed a growth rate of over 200%.

In 2017, Forbes claimed that Flock is “richer in features” when compared to Slack, while also having “deep integrations.” “The broad multiple languages support goes in its favor,” said the Forbes contributor.

Ryver

Ryver’s main feature is its Trello-like native task manager. Thanks to it, users can turn any message they receive into a task that can be tracked. According to the founders of Ryver, their tool is a bit more flexible than the features of Slack, which has quite a few restrictions in its free version.

One of its more notable features is the community-built integrations with FreeConference, which gives you the option to host or join a conference with up to 400 people. On the other hand, to add apps to your workspace on Ryver, you need to use the paid version of Zapier.

Glip

Similar to Ryver, Glip lets you create a to-do list right in the Tasks menu, or turn any message into an assignment.

Moreover, the free version of Glip has a couple of notable advantages that other platforms’ free versions do not.

Team members can communicate and work together thanks to its unlimited message history. One of the Slack disadvantages is that it has a 10K message limit for its free version. Glip’s free version also offers 500 minutes of shared video chat with up to 100 people, unlimited file storage, and a couple of useful integrations.

Hangouts Chat

We already discussed G Suite, of which Hangouts is one of its community-built integrations. One of the most notable things about Hangouts is that it does not have a free version. So if you need a free messaging platform for your company and don’t want to break the bank, Hangouts is probably not the best option for you.

However, if you already use G Suite, keep in mind that Hangouts comes included in the package, so you can take advantage of it.

If you are looking forward to using a lot of integrations, there is a Slack competitive advantage on this one and Hangouts is not the best choice you could make.

talkSpirit

talkSpirit, like Slack, is a team chat and social networking platform that connects all of your office locations, departments, teams, and individuals, and also provides them with a modern collaborative environment.

The software is built with a simple interface, allowing you and your team to easily discuss ideas, share thoughts and solutions, and work together to achieve your goals and more. talkSpirit also enables users to communicate and collaborate across the entire organization, from ground players all the way to management, making the app quite handy and guaranteeing ease of use.

Miro

Even though Miro serves the simple function of centralized communication and collaboration, it takes a more creative approach to putting it into practice.

Miro empowers cross-functional discovery and brainstorming through an infinite canvas. It presents an entire toolkit for user stories, customer journey maps, wireframing, or roadmaps, along with the classic share screen and files option.

Samepage

Just like the applications mentioned above, Samepage facilitates communication, project management, running meetings, and is a cloud-based collaboration solution for your company’s needs.

What is interesting about Samepage is that it runs meetings and persistent chat rooms, as well as coordinates events with the help of images, diagrams, videos, maps, and spreadsheets that you can create or change at any moment. And the cool thing is that everything is located, you guessed it, on the same page.

Moxtra vs. Slack

Developers describe Moxtra as allowing you to “Integrate chat, voice meetings, screen sharing and recording, and multimedia annotation into your mobile app”. Moxtra is a professional and organizational communication layer for your mobile and web applications.

On the other hand, Slack’s slogan is “Bring all your communication together in one place”. Imagine all your team communication in one place, instantly searchable, available wherever you go.

That’s Slack. All your messages. All your files. And everything from Twitter, Dropbox, Google Docs, Asana, Trello, GitHub adopted as a community platform together.

Fun Fact: Did you know Slack can run on a Super Nintendo Entertainment System (SNES)? You can run it with the help of the handy peripheral – Sattelaview. I guess that makes it Super Slack, am I right?

The Super Nintendo might not be the best gaming console in 2020, but this sure is a heck of a cool way to use Slack.

Slack and Workday

Slack has become a natural part of tons of companies and businesses around the world. Looking through some statistics we can see why not only employers but also employees love it.

19. Workers check their communication apps every 6 minutes.

(Source: Rescue Time)

Naturally, this means that the team chat tool that a company uses is a crucial part of having a productive workday and Slack is here to help.

Does your company already use Slack, and if not – what are you still waiting for? If you still need reassuring, look no further – here are the best uses of Slack.

20. On average, using Slack reduces the number of sent emails by 32% and meetings by 23%.

(Source: Kommando Tech)

21. The number of apps in the Slack app directory exceeds 2000.

(Source: Slack HQ)

That is probably why Slack has become the industry leader many claim is the future of business communication. It is a flexible tool for contextual conversations and integrates into your workflow by easily allowing other apps to be integrated into the application.

22. More than 1.5 billion messages are sent through Slack each month.

(Source: Business Insider)

Slack lets you document past responses to bugs, content update issues, or customer complaints, so you can refer to these notes if you encounter similar errors or challenges in the future. And if you are wondering how secure is Slack, the answer is that although the Slack security of messages is high, sensitive customer data or valuable corporate IP should be kept off the platform.

23. Slack’s team grew from 80 to 385 employees in just 14 months.

(Source: Business Insider)

As we can see, Slack careers are not anything to underestimate, so if you are considering one, don’t think twice.

Thanks to its minimalistic but also beautifully done design, team members can communicate and work together in a very organized manner that is easy for the receiver to understand. It balances colors well and provides simple Slack themes for you to use.

How to Use Slack?

Are you looking to set up Slack for your company?

If you have been reading this until now, you probably are, so let’s not waste any more time. In fact, Slack is perfect for this, especially when it comes to meetings.

24. Teams see a 25.1% reduction in meetings after deploying Slack.

(Source: Slack HQ)

Slack is a very intuitive and easy to use app for teamwork online. However, starting something new can always be a challenge, so that’s why we created this step-by-step guide.

Slack tips on how to use the app and take full advantage of its perks:

Simply put, the process goes like this:

  • Download Slack.
  • Join your company’s workspace.
  • Update your profile with relevant information.
  • Join your team and private channels.

If this seems like it’s not enough, we’ve got your back.

Here is more information on setting up Slack, for the more careful of you guys.

  • Download the Slack app on your desktop and mobile so you can receive notifications on all your devices and organize your workspace when you’re on the move.
  • Join your slack workspace. This is your company’s shared space, where you and other team members can communicate and work together in channels. You can join an existing Slack workspace in three ways:
  • By accepting an invitation via email from your workspace admins.
  • By signing up via URL with your personal company email.
  • By authenticating your account with your identity provider (think Okta, OneLogin, G Suite, and so on!)
  • Update your Slack profile.
  • Add a photo of you and a description of your job position to let other people know what you are responsible for. This is especially important for larger companies that use the Slack enterprise grid, where employees work in interconnected workspaces across the company and often don’t meet in person.
  • Join your relevant workspace Slack channel.
  • Work in Slack is organized via channels. Find and join your team in slack channels in your workspace to make sure you’re getting all the info you need. There are Slack public channels and private channels.
  • Once you know how to find your channels, learn how to send and read messages.
  • Direct messages and slack calls are other aspects of communication in Slack. They let you send direct messages to your fellow employees when you need to.

And if you want to keep your secrets and you are wondering does slack keep deleted messages, the answer is no.

In Conclusion

Slack is great.

No, really, whether you are a small business owner or the proprietor of a large company, make your employees happy with Slack.

A high retention rate, reduced email and meeting time, higher productivity…

…what more can a manager dream of?

Well, dream no more, because Slack can give you all of this, and you just read a ton of statistics to back this up.

FAQ

I know you guys are curious and have questions, so go ahead – check out our FAQ:

Q: What is Slack used for?

A: Slack messaging is the primary use of the app, designed to replace email as your primary method of communication and sharing at work.

Q: Is Slack free?

A: You can use Slack for free with limited features, but if you need more, there are Standard and Plus Slack pricing plans that offer extra features.

Q: What is slack connect?

A: Slack Connect is just another name that Slack Technologies goes by.

Q: How does Slack make money?

A: Slack makes money by selling monthly or annual subscriptions of their paid plans to larger businesses.

Q: How to set up a Slack account?

A: Download the Slack app, find your workspace, enter your confirmed email address, wait for confirmation from your workspace owners, and watch the magic happen.

Q: How to buy slack stock?

A: In order to buy Slack Technologies stock, you’ll need a trading account with a broker that lists Slack shares. Then you have to follow 3 simple steps:

Make sure the broker you choose offers to trade for NASDAQ stocks.

Add funds to your trading account. Most brokers accept bank transfer, credit, or debit.

Search for ‘Slack’ or ‘WORK,’ choose how many Slack market capitalization shares you want, and click ‘Buy.’

Q: How much is Slack per month?

A: There are a couple of slack pricing plans. The Standard plan is $6.67 USD per active user per month billed annually and $8 USD per active user per month, billed monthly.

Q: Why is it called Slack?

A: Slack is an acronym for “Searchable Log of All Conversation & Knowledge”.

Sources

1. Statista
2. Slack HQ
3. Market Watch
4. Market Watch
5. Slack HQ
6. Slack HQ
7. Mashable
8. Slack HQ
9. Slack HQ
10. Slack HQ
11. Kommando Tech
12. Japan Times
13. Slack HQ
14. Security and Exchange Commission
15. Security and Exchange Commission
16. Slack
17. Medium
18. The Verge
19. Rescue Time
20. Kommando Tech
21. Slack HQ
22. Business Insider
23. Business Insider
24. Slack HQ



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *