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

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Slack issued its first earnings report as a public company yesterday. Here’s what the Slack CEO has to say about the results and the company’s priorities going forward.

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.

 

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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.

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