Softbank sold its stake in Slack over the second and third quarters this year, so it just missed out on Salesforce's premium acquisition price.Salesforce said on Tuesday it would purchase Slack for $27.7 billion in cash and stock.Softbank was a major investor in Slack when it was a startup raising huge sums of money from venture investors. Slack went public in June, 2019, and up until September, Softbank remained a major shareholder.
Softbank sold off its shares across the second and third quarters of 2020, records show, a period of time when Slack's share price ranged from around $25 to a short-lived peak of just under $40 in mid-summer. The Japanese investor was fully out of its stake by September 4 when the share price was just under $34.
Softbank did well by Slack. It originally led Slack's October 2017 funding round and bought in on following rounds. All told, it paid $334 million for its stake and sold for just over $1 billion, it said. It bought its stake from 2017 to 2018 at between $8.70 and $11.91 a share, according to
SoftBank isn’t good at investment
this is terrible news