DOCSLIB.ORG

Form 10-Q Slack Technologies, Inc

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Form 10-Q Slack Technologies, Inc UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38926 Slack Technologies, Inc. (Exact name of registrant as specified in its charter) Delaware 26-4400325 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 500 Howard Street San Francisco, California 94105 (Address of principle executive offices including zip code) (855) 980-5920 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, $0.0001 par value per share WORK The New York Stock Exchange Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☐ Yes or ☒ No. Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒ Yes or ☐ No. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☐ Emerging growth company ☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes or ☒ No There were 259,605,979 shares of the registrant’s Class A common stock outstanding and 284,486,438 shares of the registrant’s Class B common stock outstanding as of August 15, 2019. TABLE OF CONTENTS Page PART I. FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of July 31, 2019 and January 31, 2019 3 Condensed Consolidated Statements of Operations for the three and six months ended July 31, 2019 and 2018 4 Condensed Consolidated Statements of Comprehensive Loss for the three and six months ended July 31, 2019 and 2018 5 Condensed Consolidated Statements of Stockholders’ Equity for the three and six months ended July 31, 2019 and 2018 6 Condensed Consolidated Statements of Cash Flows for the six months ended July 31, 2019 and 2018 8 Notes to Condensed Consolidated Financial Statements 9 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3. Quantitative and Qualitative Disclosures about Market Risk 32 Item 4. Controls and Procedures 33 PART II. OTHER INFORMATION Item 1. Legal Proceedings 34 Item 1A. Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 68 Item 6. Exhibits 69 Signatures 70 NOTE ABOUT FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the federal securities laws, which are statements that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “shall,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about: • our future financial performance, including our revenue, cost of revenue, and operating expenses; • our ability to maintain the security and availability of Slack; • our ability to increase the number of organizations on Slack and paid customers; • our ability to grow or maintain our Net Dollar Retention Rate; • our ability to achieve widespread adoption; • our ability to effectively manage our growth and future expenses; • our ability to maintain our network of partners; • our ability to enhance Slack to respond to new technologies and requirements of organizations on Slack; • our estimated market opportunity; • the future benefits to be derived from new third-party applications and integrations; • our ability to maintain, protect, and enhance our intellectual property; • our ability to comply with modified or new laws and regulations applying to our business; • the attraction and retention of qualified employees and key personnel; • our anticipated investments in sales and marketing and research and development; • the sufficiency of our cash, cash equivalents, and investments to meet our liquidity needs; • our ability to successfully defend litigation brought against us; and • the increased expenses associated with being a public company. We caution you that the foregoing list may not contain all of the forward-looking statements made in this Quarterly Report on Form 10-Q. You should not rely upon forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this Quarterly Report on Form 10-Q primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations, and prospects. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, and other factors described in the section titled “Risk Factors” and elsewhere in this Quarterly Report on Form 10-Q. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Quarterly Report on Form 10-Q. The results, events, and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward- looking statements. The forward-looking statements made in this Quarterly Report on Form 10-Q relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this Quarterly Report on Form 10-Q to reflect events or circumstances after the date of this Quarterly Report on Form 10-Q or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, or investments we may make. In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this Quarterly Report on Form 10-Q, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and you are cautioned not to unduly rely upon these statements. 1 _________________ Unless the context requires otherwise, we are referring to Slack Technologies, Inc. together with its subsidiaries when we use the terms the “Company,” “we,” “our,” or “us.” 2 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS SLACK TECHNOLOGIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share amounts) (Unaudited) As of July 31, 2019 January 31, 2019 ASSETS Current assets: Cash and cash equivalents $ 498,275 $ 180,770 Marketable securities 287,072 660,301 Accounts receivable, net 72,538 87,438 Prepaid expenses and other current assets 60,289 54,213 Total current assets 918,174 982,722 Restricted cash 38,490 20,490 Strategic investments 17,496 12,334 Property and equipment, net 107,513 88,359 Intangible assets, net 13,137 15,203 Goodwill 48,598 48,598 Other assets 32,306 31,250 Total assets $ 1,175,714 $ 1,198,956 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 8,476 $ 16,613 Accrued compensation and benefits 65,909 46,151 Accrued expenses and other current liabilities 42,866 29,809 Deferred revenue 285,016 239,825 Total current liabilities 402,267 332,398 Deferred revenue, noncurrent 1,507 2,048 Other liabilities 22,157 22,904 Total liabilities 425,931 357,350 Commitments and contingencies (Note 6) Stockholders’ equity: Convertible preferred stock — 1,392,101 Common stock 54 13 Additional paid-in-capital 1,796,988 105,633 Accumulated other comprehensive loss (119) (498) Accumulated deficit (1,058,457) (665,563) Total Slack Technologies, Inc.
Load more

Recommended publications
  • A Microsoft Office for Software Development with a Growing Moat, Large TAM and High-Quality Management
    Company: Atlassian (NasdaqGS: TEAM) Rainbow Chik Recommendation: Long [email protected] Price Target: $422 (79% upside/ 21% 3-yr IRR) A Microsoft Office for software development with a growing moat, large TAM and high-quality management KEY STATISTICS TRADING CHART EXECUTIVE SUMMARY Atlassian is a high-quality SaaS market leader that offers mission critical workplace collaboration and Application Development software. It is analogous to Microsoft Office for software development and is the oil that powers software development from planning, coding, deployment, support and collaboration. I believe TEAM is undervalued as the market (1) underappreciates TEAM’s moat expansion as a result of cloud migration, (2) underestimates TEAM’s strong network effect expanding in the large knowledge worker TAM, (3) overlooks management quality being long-term owner- operator and prudent capital allocator. The recently announced migration from perpetual licenses to cloud subscription presents a unique window to invest. Investors are concerned about the short-term revenue headwind and churn risk as a result of cloud migration, but my research suggests that it masked the better business potential given it leads to higher pricing power in a win-win situation and much stickier customers in the long-term. My base case valuation suggests a 79% upside from its current valuation at $236 ($423 target price). This is based upon sustained strong customer growth and subscription revenue per customer growth during and post-cloud-migration from my research. In addition, my bull/ bear case analysis suggests an attractive 3.5x upside/ downside ratio. COMPANY OVERVIEW Atlassian = Microsoft Office for software development Founded in 2002, Atlassian is an Australian SaaS market leader.
    [Show full text]
  • Quarterly Holdings Report for Fidelity® Growth Strategies Fund
    Quarterly Holdings Report for Fidelity® Growth Strategies Fund February 28, 2021 FEG-QTLY-0421 1.797938.117 Schedule of Investments February 28, 2021 (Unaudited) Showing Percentage of Net Assets Common Stocks – 99.1% Shares Value (000s) COMMUNICATION SERVICES – 4.4% Entertainment – 2.8% Electronic Arts, Inc. 210,000 $ 28,134 Take‑Two Interactive Software, Inc. (a) 340,000 62,716 90,850 Interactive Media & Services – 1.6% Bumble, Inc. 16,300 1,097 Match Group, Inc. (a) 324,300 49,569 50,666 TOTAL COMMUNICATION SERVICES 141,516 CONSUMER DISCRETIONARY – 7.3% Distributors – 1.1% Pool Corp. 105,000 35,151 Hotels, Restaurants & Leisure – 0.6% Domino’s Pizza, Inc. 55,900 19,370 Household Durables – 1.4% D.R. Horton, Inc. 114,500 8,802 Lennar Corp. Class A 66,100 5,484 NVR, Inc. (a) 1,650 7,426 Tempur Sealy International, Inc. 732,100 24,459 46,171 Internet & Direct Marketing Retail – 1.6% eBay, Inc. 207,100 11,685 Etsy, Inc. (a) 175,600 38,679 50,364 Multiline Retail – 0.8% Dollar General Corp. 143,000 27,026 Specialty Retail – 1.8% AutoZone, Inc. (a) 14,200 16,471 Best Buy Co., Inc. 257,200 25,810 Tractor Supply Co. 63,003 10,015 Williams‑Sonoma, Inc. 40,300 5,291 57,587 TOTAL CONSUMER DISCRETIONARY 235,669 CONSUMER STAPLES – 4.6% Beverages – 1.5% Boston Beer Co., Inc. Class A (a) 25,300 26,026 Brown‑Forman Corp. Class B (non‑vtg.) 303,099 21,696 47,722 Quarterly Report 2 Common Stocks – continued Shares Value (000s) CONSUMER STAPLES – continued Food Products – 1.5% Bunge Ltd.
    [Show full text]
  • The Direct Listing As a Competitor of the Traditional Ipo
    The Direct Listing As a Competitor of the Traditional Ipo Research Paper – Law & Economics Course (IUS/05) Degree: Economics & Business, Dipartimento di Economia e Finanza Academic Year: 2019-2020 Name: Ludovico Morera Student Number: 216721 Supervisor: Prof. Pierluigi Matera The Direct Listing as a Competitor of the Traditional Ipo 2 Abstract In 2018, Spotify SA broke into the NYSE through an unusual direct listing, allowing it to become a publicly traded company without the high underwriting costs of a traditional Initial Public Offering that often deter companies from requesting to list. In order for such procedure to be possible, Spotify had to work closely with NYSE and SEC staff, which allowed for some amendments to their implementations of the Securities Act and the Securities Exchange Act. In this way, Spotify’s listing was done within the limits imposed by the U.S. market authorities. Several rumours concerning the direct listing arose, speculating that it may disrupt the American going public market and get past the standard firm-commitment underwriting procedures. This paper argues that these beliefs are largely wrong given the current regulatory limitations and tries to clarify for what firms direct listing is actually suitable. Furthermore, unlike the United Kingdom whose public exchanges have some experience, the NYSE faced such event for the first time; it follows that liability provisions under § 11 of the securities Act of 1933 may be attributed in different ways, especially due to the absence of an underwriter that may be held liable in case of material misstatements and omissions upon the registered documents. I find out that the direct listing can substitute the traditional IPO partially and only a restricted group of firms with some specific features could successfully do without an underwriter.
    [Show full text]
  • Direct Listings: Going Public Without an Ipo
    Vol. 53 No. 12 June 24, 2020 DIRECT LISTINGS: GOING PUBLIC WITHOUT AN IPO In this article, the authors discuss the considerations and motivations for a company going public by way of a direct listing. They then turn to the stock exchange rules and SEC regulations that govern the direct listing process, as well as the procedures and role-players, highlighting the ways the process both mimics and differs from a traditional IPO. By Andrew J. Pitts, D. Scott Bennett, Michael E. Mariani and Melanie R. Cook * With companies like Spotify and Slack recently going I. BACKGROUND public through a direct listing, companies, investors, and shareholders have been increasingly focused on the A private company looking to go public has various direct listing process. In a direct listing, a company is motivations and considerations. In a traditional IPO, able to publicly list its stock without a traditional going public presents an opportunity to raise equity underwritten “initial public offering,” or IPO. While capital through the sale of stock to the public. Under the direct listings are not new, recent changes to stock current regulatory framework, companies pursuing a exchange rules opened the door for Spotify and Slack to direct listing are not permitted to raise capital as part of go public without an IPO, with others to potentially the direct listing. Instead, going public provides follow. This article focuses on the considerations that go liquidity to existing shareholders by allowing existing into a direct listing and the various ways the process and investors to sell their shares into the public market.
    [Show full text]
  • Credit Suisse Anlagestiftung 2. Säule Wertschriften
    Credit Suisse Anlagestiftung 2. Säule Wertschriften - verzeichnis 30. Juni 2020 Inhaltsverzeichnis Mischvermögen 3 CSA 2 Mixta-BVG 25 3 CSA 2 Mixta-BVG 25 Plus 3 CSA 2 Mixta-BVG 35 3 CSA 2 Mixta-BVG 45 4 CSA 2 Mixta-BVG 75 4 CSA 2 Mixta-BVG Index 25 4 CSA 2 Mixta-BVG Index 35 4 CSA 2 Mixta-BVG Index 45 4 CSA 2 Mixta-BVG Index 75 5 Aktienvermögen (aktives Management) 5 CSA 2 World Index 5 CSA 2 US Index 5 Wertschriftenverzeichnis per 30. Juni 2020 (exkl. Verbindlichkeiten und Cash) Credit Suisse Anlagestiftung 2 Wertschriftenverzeichnis per 30. Juni 2020 exkl. Verbindlichkeiten und Cash in % des Gesamt- in % des Gesamt- Valor fondsvermögens Valor fondsvermögens Mischvermögen 18 503 719 CREDIT SUISSE INSTITUTIONAL MASTER FUND (CSIMF) UMBRELLA - INFLATION LINKED BONDS CHF -ZB- CHF 0.23 CSA 2 Mixta-BVG 25 30 546 381 CREDIT SUISSE L/S SWISS FRANC BOND FUND LIMITED 1.17 23 547 751 CREDIT SUISSE ANLAGESTIFTUNG REAL ESTATE GERMANY 2.12 10 888 770 CREDIT SUISSE SPECIAL PORTFOLIO SWISS REAL ESTATE 46 001 004 CREDIT SUISSE IMMOTREND EUROPA -F- EUR 0.52 SECURITIES -EB- 0.03 35 751 547 CREDIT SUISSE INDEX FUND (CH) I - CSIF (CH) I EQUITY JAPAN 19 946 559 CS FUND 3 - CREDIT SUISSE (CH) SMALL CAP SWITZERLAND BLUE - PENSION FUND -ZA- 0.84 EQUITY FUND -D- CHF 0.53 21 335 210 CREDIT SUISSE INDEX FUND (CH) - CSIF (CH) EQUITY CANADA 36 780 671 CS ILS SICAV-SIF - CREDIT SUISSE (LUX) IRIS BALANCED FUND BLUE -ZA- CAD 0.32 -SBH-I- CHF 0.41 32 336 245 CREDIT SUISSE ANLAGESTIFTUNG 2.
    [Show full text]
  • Maximizing Shareholder Value? Spotify Direct Public Offering
    Journal of International & Interdisciplinary Business Research Volume 6 Article 6 November 2019 Maximizing Shareholder Value? Spotify Direct Public Offering Hoje Jo Santa Clara University, [email protected] John Throne Santa Clara University Michael Fieber Santa Clara University Follow this and additional works at: https://scholars.fhsu.edu/jiibr Part of the Business Commons Recommended Citation Jo, Hoje; Throne, John; and Fieber, Michael (2019) "Maximizing Shareholder Value? Spotify Direct Public Offering," Journal of International & Interdisciplinary Business Research: Vol. 6 , Article 6. Available at: https://scholars.fhsu.edu/jiibr/vol6/iss1/6 This Article is brought to you for free and open access by FHSU Scholars Repository. It has been accepted for inclusion in Journal of International & Interdisciplinary Business Research by an authorized editor of FHSU Scholars Repository. Jo et al.: Spotify Direct Public Offering MAXIMIZING SHAREHOLDER VALUE? SPOTIFY DIRECT PUBLIC OFFERING Hoje Jo, Santa Clara University John Throne, Santa Clara University Michael Fieber, Santa Clara University The typical method of going public has traditionally been an initial public offering (IPO), whereby a company works with an underwriter syndication to establish a price at which shares will be offered to the public before listing them. The purpose of this paper, however, is to evaluate whether IPOs are truly the best method for taking a company public. To answer this question, at least partially, we explore the upsides and downsides of a direct listing using the music streaming company Spotify (NYSE: SPOT) as a case study. Having officially registered to go public with the SEC and direct listed on April 3, 2018 with $149.01 closing price and a $26.5 billion market capitalization, Spotify becomes the first major private company to list its shares directly to the public on the NYSE without using an underwriter.
    [Show full text]
  • The New York Stock Exchange LLC's Statement in Support of Order
    UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION In the Matter of the New York Stock Exchange LLC Regarding an Order Approving a Proposed Rule Change, as Modified by Amendment No. 2, to Modify Chapter One of the Listed Company Manual to Modify the Provisions Relating to Direct Listings (File No. SR-NYSE-2019-67) THE NEW YORK STOCK EXCHANGE LLC’S STATEMENT IN SUPPORT OF ORDER APPROVING PROPOSED RULE CHANGE TABLE OF CONTENTS PAGE PRELIMINARY STATEMENT .........................................................................................1 BACKGROUND .................................................................................................................4 A. The Existing Direct Listing Landscape........................................................4 B. NYSE’s Proposed Rule Changes .................................................................5 C. Approval Order by Division of Trading and Markets .................................8 D. CII’s Petition for Review .............................................................................9 ARGUMENT .....................................................................................................................10 I. The Division Properly Determined That the Rule Changes Meet the Requirements of Section 6(b)(5) of the Exchange Act and the Rules Promulgated Thereunder ........................................................................................10 II. The Rule Changes Do Not Pose a “Heightened Risk” to Investors .......................15 III. The
    [Show full text]
  • Slack Technologies Annual Report 2021
    Slack Technologies Annual Report 2021 Form 10-K (NYSE:WORK) Published: March 19th, 2021 PDF generated by stocklight.com UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38926 Slack Technologies, Inc. (Exact name of registrant as specified in its charter) Delaware 26-4400325 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 500 Howard Street San Francisco, California 94105 (Address of principle executive offices including zip code) (415) 630-7943 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, $0.0001 par value per share WORK The New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. ☒ Yes or ☐ No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. ☐ Yes or ☒ No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
    [Show full text]
  • Developed Ex UK
    2 FTSE Russell Publications 19 August 2021 FTSE Developed ex UK Indicative Index Weight Data as at Closing on 30 June 2021 Index weight Index weight Index weight Constituent Country Constituent Country Constituent Country (%) (%) (%) 1&1 AG <0.005 GERMANY Alfa Laval 0.02 SWEDEN Arch Capital Gp 0.03 USA 3M Company 0.2 USA Alfresa Holdings <0.005 JAPAN Archer Daniels Midland 0.06 USA A P Moller - Maersk A 0.02 DENMARK Align Technology Inc 0.08 USA Argenx S.E 0.03 BELGIUM A P Moller - Maersk B 0.03 DENMARK Alimentation Couche-Tard B 0.05 CANADA Ariake Japan <0.005 JAPAN a2 Milk 0.01 NEW ZEALAND Alleghany 0.02 USA Arista Networks 0.04 USA A2A 0.01 ITALY Allegion PLC 0.02 USA Aristocrat Leisure 0.04 AUSTRALIA AAC Technologies Holdings 0.01 HONG KONG Allegro 0.01 POLAND Arkema 0.01 FRANCE Aalberts NV 0.01 NETHERLANDS Alliant Energy 0.02 USA Aroundtown SA 0.02 GERMANY ABB 0.1 SWITZERLAND Allianz SE 0.18 GERMANY Arrow Electronics 0.01 USA Abbott Laboratories 0.35 USA Allstate Corp 0.07 USA Arthur J Gallagher 0.05 USA AbbVie Inc 0.35 USA Ally Financial 0.03 USA As One <0.005 JAPAN ABC-Mart <0.005 JAPAN Alnylam Pharmaceuticals 0.03 USA Asahi Group Holdings 0.03 JAPAN Abiomed Inc 0.02 USA Alony Hetz Properties & Inv <0.005 ISRAEL Asahi Intecc 0.01 JAPAN ABN AMRO Bank NV 0.01 NETHERLANDS Alphabet Class A 1.29 USA Asahi Kasei Corporation 0.02 JAPAN Accenture Cl A 0.33 USA Alphabet Class C 1.25 USA Ascendas Real Estate Investment Trust 0.01 SINGAPORE Acciona S.A.
    [Show full text]
  • The Lawyer's Guide to Discovery and Investigations in Slack
    # # # # # # # # The Lawyer’s Guide to Discovery and Investigations in Slack How Slack Is Changing Communication and Disrupting Discovery as We Know It The Lawyer’s Guide to Discovery and Investigations in Slack Page 1 of 24 Slack is changing the way we communicate A photo of a cat. A series of emojis. A heated back and forth. A message from a bot. This isn’t your uncle’s Facebook page or the comment thread of some website. It’s how millions of corporate professionals are communicating today. It’s Slack. Slack is the massively popular messaging system meant to make collaboration easy and seamless. But if you’re a legal professional, Slack could make your life much more difficult. Oh #$%*! Logikcull makes Slack discovery easy, affordable, and instant, but Logikcull’s The Lawyer’s Guide to Discovery and Investigations in Slack Page 2 of 24 Instant Discovery is not created by, affiliated with, or supported by, and has no business relationship with Slack Technologies, Inc. Today, Slack has Sending Across Billions Thousands daily7M active users of daily messages of workspaces A “team collaboration tool” that allows users to message, share files, search conversations, archive information and more, Slack is, in essence, a data repository fused with a high-tech chat room. Slack allows fast paced communication, all logged in a highly searchable environment called a “workspace.” Thanks to Slack, more and more business communication is moving from the inbox to the chat room. One of the fastest growing apps ever, Slack is used by everyone from the smallest startups to Fortune 100 companies—more than 75 percent of them.
    [Show full text]
  • SLACK TECHNOLOGIES INC. (Ticker: WORK) LBIR Recommendation
    STOCK | 9/14/20 FRESH LOOK SLACK TECHNOLOGIES INC. (Ticker: WORK) LBIR Recommendation Stock Price: $25.6 (9/14/20) Company Size: 14.92B Author: Janice Quek Company Rank: 859 Sector: Technology Industry: Productivity Software Slack is a cloud-based work communication and collaboration software. IN THIS FRESH LOOK WE’LL COVER: u Summary of the Business Slack is a work communication and collaboration software designed to become a Grab-and-Goä “digital office” for workers. THESIS u Recent Developments The company registered good new customer An investment in Slack is a play on growth from pandemic-related remote work demand for enterprise communication measures. However, churn also increased due software. Slack is a cloud-based to employees furloughs and layoffs. Slack also platform built for businesses to send released Slack Connect and acquired Rimeto. messages, make video and phone calls, and collaborate internally and u Competitive Environment externally on work projects. It is one The company is one of the leading vendors in of the top vendors in this space, but this space, competing aggressively with product innovation and aggressive Microsoft for enterprise customers. However, sales in the enterprise will be two Slack appears to have the better product. areas it needs to continue to perform u Conclusions/Recommendations to remain in the lead. We think Slack has the potential to accelerate momentum as the economy recovers and as new products take flight. However, competition is intense, and we want to see a stronger pace of growth before changing our recommendation. SEEKING STOCKS THAT CAN DOUBLE IN 2-3 YEARS 1 LEFTBRAINIR.COM .
    [Show full text]
  • Robert Lowinger, Et Al. V. Slack Technologies, Inc., Et Al. 21-CV
    Case 3:21-cv-00117 Document 1 Filed 01/07/21 Page 1 of 16 1 ABRAHAM, FRUCHTER & TWERSKY, LLP 2 TAKEO A. KELLAR (Bar No. 234470) 11622 El Camino Real, Suite 100 3 San Diego, CA 92130 Tel. (858) 764-2580 4 Fax (858) 764-2582 [email protected] 5 Counsel for Plaintiff and the Putative Class 6 [Additional Counsel Appear on Signature Page] 7 UNITED STATES DISTRICT COURT 8 NORTHERN DISTRICT OF CALIFORNIA 9 ROBERT LOWINGER, Case No.: ________________ 10 Plaintiff, COMPLAINT FOR VIOLATIONS OF 11 THE FEDERAL SECURITIES LAWS vs. 12 SLACK TECHNOLOGIES, INC., 13 STEWART BUTTERFIELD, ANDREW BRACCIA, EDITH COOPER, SARAH 14 FRIAR, SHEILA JORDAN, MICHAEL MCNAMARA, JOHN O’FARRELL, and 15 GRAHAM SMITH, 16 Defendants. 17 18 Plaintiff Robert Lowinger (“Plaintiff”), by and through his undersigned attorneys, alleges 19 the following based upon personal knowledge as to those allegations concerning Plaintiff and, as 20 to all other matters, upon the investigation of counsel, which includes, without limitation: (a) 21 review and analysis of public filings made by Slack Technologies, Inc. (“Slack” or the 22 “Company”) and salesforce.com, inc. (with its subsidiaries “Salesforce” or “Parent”), with the 23 U.S. Securities and Exchange Commission (the “SEC”); (b) review and analysis of press releases 24 and other publications; (c) review of news articles, shareholder communications, and postings on 25 the Company’s and Parent’s websites; and (d) review of other publicly available information. 26 NATURE OF THE ACTION 27 1. Plaintiff owns shares of Slack Class A common stock, par value $0.0001 per share 28 (“Slack Common Stock”) and brings this action to cure violations of Section 14(a) of the Securities COMPLAINT FOR VIOLATIONS OF THE FEDERAL SECURITIES LAWS -1- Case 3:21-cv-00117 Document 1 Filed 01/07/21 Page 2 of 16 1 Exchange Act of 1934 (the “Exchange Act”), 15 U.S.C.
    [Show full text]