Uber announced that it would be using the Chat Application from Slack for all its 38000 employees across the globe for communication and information exchange.
Slack becomes preferred Chat App for Uber Employees
It is indeed a big Win for the chat app, and its stock prices jumped to a massive 8 percent in the initial trading cycles on Friday last week. The slack chat app is seeing enormous growth recently. Recently IBM announced that it would be rolling out Slack for its 350,000 employees worldwide.
Slack Shares rise after the announcement
The work chat app Slack shares surmounted to 29.70 per share after the letter with an increase of 8 percent. Uber’s statement is indeed a great win for the company. The news was broken in the exclusive report by Business Insider.
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Touch Competition to Microsoft Teams
Slack has seen fierce competition from the much-established Microsoft Teams and is touted as the next-gen communication tool in the workplace. In 2016, Uber planned to use HipChat as the chat app for employees as it felt that Slack would not be able to comply with the communication needs of the company. However, now the announcement comes out as a great win for Slack.
Big Win for Slack
Slack can now boast of its two large accounts which establish it as one of the healthy workplace communications platforms. With companies like Uber and IBM, which have high employee strength and extremely volatile communications structure adopting Slack as their preferred work chat app, Slack has proved its mettle.
IBM one of the largest Slack accounts
IBM has been one of the largest Slack accounts since 2016. However, it rolled out the App for all its employees in February this year.
Slack Stocks Soar after the deal
Winning the big names helped Slack strengthen its market value as the shares surged to a consensus price target of 26.58 dollars and the Buy rating of the same reached 11. The hold rating rose to 8 and the Sell rating fixed as Three by the wall street analysts after the deal announcement. On the other hand, Uber shares fell by 2 percent on Friday intraday trading. Slack has combatively gained 22 percent year to date by growth by Thursday close of business.