A Brand for social justice
In 2020, brands did something they’d never done before: They spoke up about race.
Looking to boost its enterprise tools, the sales and marketing cloud software giant is acquiring Slack
Salesforce will acquire messaging platform Slack for US$27.7 million. The sales and marketing cloud software platform has confirmed the acquisition, with the news it has entered into a definitive agreement to buy the messaging platform. Slack will become the new interface for Salesforce Customer 360.
Salesforce said that combining Slack with Salesforce Customer 360 will create the operating system for the new way to work, creating a unified platform for connecting employees, customers and partners with each other and the apps they use every day, all within their existing workflows.
Slack has struggled to fully capitalise on the switch to remote working during the COVID-19 pandemic in the face of fierce competition from Microsoft Corp’s Teams and other workplace apps. Slack shares ended trading in the US on Tuesday, when news of the potential acquisition was first revealed, at US$29.57, well below the US$42 high they reached on their first day of trading last year.
The confirmation comes ahead of Slack's quarterly earnings reports due on 9 December. After The Wall Street Journal first reported that the two companies had held deal talks., Slack Technologies shares jumped 24 per cent to US$36.58, giving the company a market capitalisation of US$21 billion, while Salesforce fell 2.7 per cent
Slack’s app has been installed about 12.6 million times so far this year, up approximately 50 per cent from the same period in 2019, according to analytics firm, Sensor Tower. However, the economic fallout of the virus outbreak has forced Slack to give discount and payment concessions to many of its customers who have had to make cost cuts, the firm noted.
Salesforce annual revenue has improved against forecasts earlier in the year as the pandemic has boosted demand for its online business software that supports remote work and commerce. Salesforce spent more than US$16 billion last year in acquisitions to stay ahead of its main rivals, Oracle and SAP.
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In this latest episode of our conversations over a cuppa with CMO, we catch up with the delightful Pip Arthur, Microsoft Australia's chief marketing officer and communications director, to talk about thinking differently, delivering on B2B connection in the crisis, brand purpose and marketing transformation.
In 2020, brands did something they’d never done before: They spoke up about race.
‘Business as unusual’ is a term my organisation has adopted to describe the professional aftermath of COVID-19 and the rest of the tragic events this year. Social distancing, perspex screens at counters and masks in all manner of situations have introduced us to a world we were never familiar with. But, as we keep being reminded, this is the new normal. This is the world we created. Yet we also have the opportunity to create something else.
In times of uncertainty, people gravitate towards the familiar. How can businesses capitalise on this to overcome the recessionary conditions brought on by COVID? Craig Flanders explains.
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