June 24, 2020, 12:58 p.m. EDT

Slack announces Connect platform to link up to 20 businesses

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Slack Technologies Inc. (WORK)
  • X
    Microsoft Corp. (MSFT)

or Cancel Already have a watchlist? Log In

By Jon Swartz


Getty Images
Slack Technologies Inc. on Wednesday announced a new platform, called Slack Connect, that links up to 20 businesses.

Slack Technologies Inc. on Wednesday announced a set of technologies, called Slack Connect, that enhances its real-time communications collaboration platform across up to 20 businesses.

A company spokesperson said the ultra-secure system , which has been in the works for four years, represents for Slack /zigman2/quotes/212180539/composite WORK +0.97%  , “The future of business connection.” The San Francisco-based company is locked in a fierce duel with Microsoft Corp. /zigman2/quotes/207732364/composite MSFT +0.06%   and its Teams product for enterprise customers. Slack shares are down 5% in midday trading.

“Over time one of the biggest ramifications [of Connect] will be having a medium for enterprise software to run across organizational boundaries,” Slack CEO Stewart Butterfield said during a virtual press briefing.

In a phone interview with MarketWatch after the briefing, Slack Chief Financial Officer Allen Shim said the new, proprietary technology relegates email to “the fringes of business communication.”

“Our goal since this company was started six and a half years ago has been, How do we replace email as a delivery system... not just within a company but across companies?” Shim said. “It’s a step-up in collaboration capabilities for companies, and a vector for future growth.”

Slack’s bid for more enterprise business comes against the backdrop of heated competition with Microsoft Teams, which has the advantage of leveraging Office 365 in acquiring customers.

On Monday, Microsoft juiced the Microsoft Teams mobile app with chat/video calling, secure document and location sharing, and info/password storage to make it more appealing to consumers outside of work.

/zigman2/quotes/212180539/composite
US : U.S.: NYSE
$ 30.30
+0.29 +0.97%
Volume: 8.57M
Aug. 6, 2020 12:07p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$16.92 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207732364/composite
US : U.S.: Nasdaq
$ 213.06
+0.12 +0.06%
Volume: 12.68M
Aug. 6, 2020 12:07p
P/E Ratio
36.96
Dividend Yield
0.96%
Market Cap
$1611.46 billion
Rev. per Employee
$902,473
loading...

Jon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter @jswartz.

Get news alerts on Slack Technologies Inc. — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.