Who Owns Slack
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Slack Technologies, Inc., the company behind the popular workplace messaging tool Slack, has been a tech industry darling since its launch in 2014. The company has gone from a scrappy startup to a publicly traded behemoth, with a valuation of more than $19 billion. Its popularity has skyrocketed among companies of all sizes and industries, and it’s used by more than 10 million people daily. But who owns Slack?
The majority of ownership is held by venture capital firms and individual investors, primarily through two venture capital firms: Andreessen Horowitz and The Social+Capital Partnership. Together, Andreessen Horowitz and The Social+Capital Partnership have invested more than $300 million in Slack and own a combined 48% of the company.
Andreessen Horowitz is a venture capital firm founded in 2009 by internet entrepreneurs Marc Andreessen and Ben Horowitz. The firm invests in tech startups across many industries, including software, communications, online services, and mobile. Andreessen Horowitz has invested in Slack since its early days, and has been a major source of funding for the company’s growth.
The Social+Capital Partnership is a venture capital firm founded by former Facebook executive Chamath Palihapitiya. The firm focuses on connecting its portfolio companies to new sources of growth capital, strategic partners, and customers. The Social+Capital Partnership led Slack’s Series C funding in April 2015 and holds a 32% stake in the company.
Slack’s CEO and co-founder Stewart Butterfield owns 8% of the company, while co-founders Cal Henderson and Eric Costello, who both serve as executives, each own 6% of the company. Jeff Weiner, the CEO of LinkedIn, is another major individual shareholder, owning a 4% stake in Slack.
In April 2019, Slack went public, listing on the New York Stock Exchange (NYSE) under the ticker symbol WORK, and raised over $100 million through its initial public offering (IPO). Since then, the company has steadily grown, and is now considered one of the most important tools for workplace communication.
Despite its soaring success, Slack is still owned primarily by venture capital firms and individual investors. With its recent IPO, Slack has become one of the most recognizable companies in Silicon Valley, and its success story is a testament to the power of venture capital and entrepreneurship.