![]() ![]() Meanwhile, Slack's growth comes from signing on large customers, like the ones Butterfield described during the call with analysts. However, the company was careful to tell analysts that it is not yet certain if that growth will translate into a long-term bump in paying customers. The spread of coronavirus has put Slack in a precarious situation.Īs a workplace collaboration tool, Slack is well positioned to help enable increased remote work amid the coronavirus outbreak, and has seen a spike in usage for the free version of the app as a result. While these anecdotes about customer wins over Teams have some analysts more hopeful about how Slack will fare in this competitive environment, some are still skeptical, and now worry about the impact that coronavirus might have on the company's ability to close the big deals it needs to show further growth. And if you want to change the way people work together through software, people have to actually use the software to work together," he said. Slack's superior user experience and platform capabilities result in real engagement. ![]() "Slack scales elegantly for both end users and administrators. Butterfield also echoed previous claims that many of Slack's largest customers tend to also be Microsoft customers who still choose the app because it works better for them. Although Butterfield didn't give specific names, he said those customers included a large defense contractor and a Fortune 100 retailer. ![]() On the call, however, Butterfield spotlighted several customers it signed on in the quarter that picked Slack over Microsoft Teams. The dip came after it reported earnings that beat Wall Street estimates, but that still showed a weaker-than-expected forecast for next quarter and signs of slowing growth. But analysts fear that Slack's future prospects to compete with its much larger rival may be dimmed by the ongoing coronavirus crisis.Īt the time of publication on Friday, Slack's stock was the lowest it has been since it went public via direct listing last year. Slack CEO Stewart Butterfield touted the company's customer wins against Microsoft's rival Teams chat app during a call with analysts after it reported earnings on Thursday. With Slack's ability to send salespeople out to close deals limited by the spread of coronavirus, and more of its customers working from home, analysts fear that the market may favor the incumbent - in this case, Microsoft, which has established relationships with most major companies around the world.While customer wins over Teams have some analysts more hopeful about Slack's future prospects, others worry that the spectre of coronavirus looms over its ability to compete with Microsoft.Although Butterfield didn't give specific names, he said those customers included a large defense contractor and a Fortune 100 retailer.Slack CEO Stewart Butterfield highlighted deals the company signed last quarter where customers chose it over Microsoft Teams, its chief competition in the work chat app market.Account icon An icon in the shape of a person's head and shoulders. ![]()
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