The report expects Slack to become one of the next technology titans with a valuation of over $50Bn by 2025. Slack has had a profound impact on organizations worldwide while demonstrating rapid growth. With a rare combination of highly recurring revenue, low churn and high level of engagement, Slack is taking the best of both worlds: Enterprise SaaS and Instant Messengers.
The report estimates the total enterprise productivity market at c. $230Bn today and expects it to grow to $500Bn by 2024. Competition is becoming fierce as Microsoft, Facebook and Google have entered the space – maintaining market share particularly in the enterprise segment is key. Slack is benefiting from a first mover advantage but would need to invest further in product and cyber security, especially as it targets larger customers.