Slack CEO says the company will use its $800 million cash pile to focus on growth

CEO Stewart Butterfield said on Thursday that the company is laser-focused on investing in growth, as it spends more on creating new features for customers and attracting additional businesses to its workplace chat service.

In an interview with CNBC's Squawk Box on Thursday, Andrew Ross Sorkin asked Butterfield what Slack views as reasonable costs. Slack has about $800 million in cash on hand, Butterfield said, which is one of the reasons the company went public earlier this year with a direct listing, rather than an initial public offering.first earnings report

While the company beat on the top and bottom lines for the fiscal second quarter, Slack said it expects sales growth to continue to slow, alongside wider-than-expected losses for the current quarter, which sent shares tumbling.

Invest in business's and actual assets... Unless this stock does exactly that.

Seems like this company is taking major losses long term I'd leave. Its a scam... Only for penny like stocks. Meaning short-term.

Slack is yet Another of Chamath P. 's Scams. Stay away.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Slack CEO says the company will use its massive cash pile to focus on growthSlack projected wider-than-expected losses for the current quarter in its first earnings report as a public company. My, what a novel idea for a CEO... I would be interested in seeing his 10 year Strategic plan and Tactical plans to augment... this article makes it sound like he's shooting from the hip... That worries shareholders...
La source: CNBC - 🏆 12. / 72 Lire la suite »

Slack plummets on inaugural earnings report after saying growth will slowThe company also noted that revenue was negatively impacted by $8.2 million of credits 'related to serve level disruption.'
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

Slack channels its way into unenviable companyLike Snap and Blue Apron before it, the workplace-messaging service disappointed investors in its debut quarter as a public company. Revenue is still growing at a decent clip. But growing trade and recession fears are making once-giddy shareholders focus more on the bottom line.
La source: Breakingviews - 🏆 470. / 51 Lire la suite »