Salesforce buys Slack in a $27.7B megadeal

Salesforce, the CRM powerhouse that recently surpassed $20 billion in annual revenue, announced today it is wading deeper into enterprise social by acquiring Slack in a $27.7 billion megadeal. Rumors of a pending deal surfaced last week, causing Slack’s stock price to spike. Salesforce co-founder and CEO Marc Benioff didn’t mince words on his latest […]

The company had lost nearly half of its market value since going public in April 2019, and it failed to turn a profit during its last three quarters despite the surge in remote work due to COVID-19. The company did not have an obvious path to becoming profitable and no clear way to overcome increasing pressure from Microsoft Teams, making a potential acquisition more likely with each passing quarter...