Data shows that Slack is healthy inside and out as it preps for IPO
Slack Technologies ($SLACK), the company behind the ubiquitous cloud-based workplace communications and chat room software, is set to have a direct listing and bring the company onto the public stock market.
Last valued at $7 billion in 2018, Slack's founders, Stewart Butterfield and Cal Henderson, were once the heads of a failed gaming company.
Now that the company has confidentially filed a draft registration statement with the SEC to go public, here's what Slack looks like when it comes to the data trails it's created so far.
Hiring data: from engineers to pre-IPO finance and sales
On July 12, 2016, months after the company raised $200 million on top of previous fundraising rounds totalling $340 million, the company was hiring for 84 unique positions. After a drop in job listings during October of 2016, the company has continued to hire more people at a steady rate, increasing the number of openings by about 18% since the fourth quarter of 2016.
Slack has had strong, steady hiring growth since 2016.
While most jobs at Slack are typical tech jobs — engineers, developers, etc. — there has been a more recent boom in hires is for finance and accounting positions. It's no wonder why rumors of Slack having an IPO or public listing came during the fall of last year; from September 26 to September 28, the company listed double the amount of openings for finance and accounting.
A current snapshot of Slack's February job listings shows that the company is looking to sell, sell, sell ahead of its public listing. The most common jobs are for Account Executives and Enterprise Solutions Engineers, which work in tandem to close deals.
|Job Title||Number of Listings|
|Enterprise Solutions Engineer||5|
|Account Executive, Enterprise||3|
|Account Executive, Large Enterprise||3|
|Account Executive, Mid Market||3|
|Business Development Representative||3|
|Customer Experience Manager, Admin Services||3|
|Learning Consultant – Mid-Market and Sales Development, Sales Enablement||3|
|Customer Experience Agent||2|
|Customer Experience Enterprise Lead||2|
|Customer Success Manager||2|
|Recruiting Coordinator (contract)||2|
|Account Executive, Mid Market||2|
|Scale Customer Success Manager||2|
|Senior Customer Success Manager||2|
|Senior Frontend Engineer||2|
|Senior Site Reliability Engineer||2|
|Manager, Enterprise Sales||2|
|Slack Experience Consultant||2|
|Director of Engineering||2|
App Store Ratings: Better than competitors
On the Apple App Store, Slack currently has an average rating of 4.5, the second highest rating on the platform. That's also full point ahead of Microsoft's own business communications solution Skype, which ranks at a 3.5.
To give Microsoft credit, Skype has been around longer on the app store (and in general) than Slack, which can clearly be seen through the number of reviews given to both websites.
Skype has more than 10 times the amount of reviews on the app store as Slack, but has a lower rating. This indicates that Slack fits its profile of an industry changer; a sleeker, more well-liked program than the older legacy chat software.
Workplace Ratings: 96% CEO approval, positive outlook
As a startup, Slack has hit the right tone with its employees who have given the company rave reviews on Glassdoor.
CEO Stewart Butterfield did not make the website's Top CEOs list of 2018, but he's within the wheelhouse of the best in the United States, boasting a 96% approval rating based on over 150 employee reviews. It's not as good as his 99% approval rating in early 2018, however among the small and medium company pack, Butterfield has gotten very little public criticism on the employer-review website.
The company's Business Outlook — how employees think the company will fair in six months time — is also superb at a 96%, hovering around that mark for the past 18 months.
As Slack prepares to go public, we'll keep an eye on all their trends to see if any anomalies show up, which could indicate the future of this unicorn startup that's looking to become a booming reality on the stock market.