Slack, the messaging app used mostly by businesses, and adored by the startup scene, has hit a double milestone: It has 8 million daily active users, 3 million of which are now paid users.
Ok, Slack is not just a messaging app; it’s a “workplace collaboration tool.” And it’s also one of the fastest-growing communication tools, as it has hit 8 million daily active users.
Slack is also a Silicon Valley darling. It promised to make workplace communication easier, and it succeeded, where the heavier tools – like Skype – did not.
Back in September 2017, the company announced it had around 6 million daily active users, 50,000 teams, and 2 million paid users – resulting in just around $200 million in annual recurring revenue.
Today, the app has over 3 million paid users and the company behind it is valued at a whopping $5.1 billion.
But Slack’s growth could slow down, analysts say. The company is yet to convince larger corporations, and remains known as the tool for “small businesses and startups.” For now, the company is focusing on sustaining growth outside of the US, where more than half of its userbase comes from.