Slack was undoubtedly a beneficiary of the global pandemic that pushed businesses into work from home arrangements. It was part of the reason why Salesforce.com Inc (NYSE: CRM) spent nearly $28 billion last year to buy the business communication platform.
Highlights from COO Taylor’s interview with CNBC
Now that the global economy is reopening, however, questions are looming around Slack’s relevance in the post-pandemic world. But Salesforce COO Bret Taylor, for one, is convinced it will remain just as strong after COVID-19. On CNBC’s “Closing Bell”, he said:
Tools like Slack are incredible opportunities for innovative companies. We call it the digital headquarters, and in this all-digital, work from anywhere world, your digital headquarters is more important than your physical headquarters.
Salesforce is set to report its results for Q3 on November 30th. In the previous quarter, its revenue jumped 23% prompting it to raise guidance for the full-year. The stock is up nearly 40% in 2021.
The hybrid work environment is here to stay
According to Taylor, the pandemic has permanently changed “work” as we know it. He expects the hybrid work environment to remain in place, which in turn, will keep Slack relevant in the post-pandemic world.
Slack is more relevant in the post-pandemic world because we’re entering this world of flexible work where you need to connect your employees, partners, and customers no matter where they are. And Slack is at the centre of that conversation.
Since the acquisition in December 2020, Slack has gone through a slate of innovation, including integration with Salesforce’s Customer 360 and added audio and video capabilities.
Taylor sees Metaverse as an opportunity, which could open new doors for company-wide growth. His comments come more than a month after Joule Financial’s Quint Tatro said at 60 times forward earnings, he wouldn’t recommend chasing CRM.
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