What’s Next for Slack? ($CRM)
Today, Salesforce (CRM) announced that it has officially closed its $27.7 billion acquisition of the messaging app Slack Technologies.
LikeFolio data for the Slack brand shows that Consumer Buzz peaked during the 2020 lockdowns but has sharply declined since CRM first announced the acquisition in December 2020.
Slack brand mentions are trending -37% QoQ and -58% YoY.
In light of the recently closed acquisition and a return to in-office work for many Americans, the near-term and YoY weakness make sense.
It remains to be seen how Salesforce will integrate the platform into its $250B enterprise software empire, but CRM’s CEO was quoted saying, “Salesforce and Slack are uniquely positioned to lead this historic shift to a digital-first world. I could not be more excited for what’s to come”.
We’ll be watching to see if Salesforces’ future plans can reverse the recent decline in Slack mention volume.