Slack Beats Expectations on Q1 2020 Earnings; Partnership With Amazon WS

Slack Technologies reported Q1 2020 earnings report, released on June 4, and once again beat the expectations of analysts with key numbers of:

Earnings: Loss of 2 cents per share, adjusted

Revenue: $201.7 million

Revenue increased by 50% in Q1 vs 49% in Q4 2019 according to Jordon Novet’s article for CNBC. (Novet notes Zoom‘s earnings, released June 2, 2020, presented a spectacular increase of 169% revenue growth).

And there is still more come – Stewart Butterfield, CEO and co-founder of Slack announced a new partnership with Amazon Work Services. “The future of enterprise software will be driven by the combination of cloud services and workstream collaboration tools,” said Butterfield. “Strategically partnering with AWS allows both companies to scale to meet demand and deliver enterprise-grade offerings to our customers. By integrating AWS services with Slack’s channel-based messaging platform, we’re helping teams easily and seamlessly manage their cloud infrastructure projects and launch cloud-based services without ever leaving Slack.”

The brilliant tech company also outperformed expectations on April 26, 2019 when it went public as a direct listing (ticker: WORK) on the New York Stock Exchange.  The stock soared to an increase of 48.5% resulting in the third largest initial trade ever on the NYSE.

By choosing to go public as a direct listing, Slack circumvented the world of Wall Street/investment banking IPO launching. Formerly named Tiny Speck (and formerly Canadian) the American cloud-based company specializes in proprietary team collaboration software – in layman’s terms, workplace messaging and project management. Many of the company’s team members were formerly with Ludicorp, the creators of Flickr.

Is this sounding a lot like Skype? Agreed – here is an article comparing and contrasting the two companies: Slack Vs Skype: Which is Best for Business? written by Matt D’Angelo, staff writer at Business News Daily.


RealDealDocs offers more than 4 million actual business documents which can be downloaded and edited in MS Word.

Here are 4 documents from Slack Technologies currently available on RealDealDocs.com:

Slack Technologies, Inc. – Indemnification Agreement

Slack Technologies, Inc. – Executive Severance Plan

Slack Technologies, Inc. – Bylaws

Slack Technologies, Inc – Non-employee Director Compensation Policy


Image used courtesy of Forbes.


 

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