Business Spotlight - - ISRAEL / US -

NAME Slack does not take its name from the in­for­mal word “slacker” (a per­son who avoids work). It is an acro­nym for “Search­able Log of All Con­ver­sa­tion and Knowl­edge”.

HIS­TORY Slack was started in 2013, fol­low­ing its de­vel­op­ment by the com­pany that cre­ated Gl­itch, an on­line game. Ste­wart But­ter­field, Eric Costello, Cal Hen­der­son and Ser­guei Moura­chov wrote the code.

OWN­ER­SHIP Ma­jor in­vestors in­clude ven­ture cap­i­tal firms like An­dreessen Horowitz and Softbank. Slack has a $5.1 bil­lion (€4.4 bil­lion) val­u­a­tion.

BUSI­NESS MODEL Slack is a “freemium” prod­uct and de­pends on users’ need­ing in­for­ma­tion they have “slacked”. The free search­able limit is 10,000 mes­sages.

FU­TURE Once Slack be­gan mak­ing head­lines, Mi­crosoft an­nounced Teams, Google launched Han­gouts and Face­book pre­sented Work­place. Miss­ing from the list is Amazon, which will soon be val­ued at a tril­lion dol­lars. If it wants Slack, it will get it.

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