US-based office communication app developer Slack Technologies has begun talks with prospective investors over a funding round that would value it at up to $2.6bn, TechCrunch reported yesterday.
The funding would follow a $120m series D round co-led by Google Ventures, the corporate venturing arm of internet company Google, in November at a $1.1bn valuation, and which also included Kleiner Perkins Caufield & Byers, Andreessen Horowitz, Accel Partners and The Social+Capital Partnership.
Investment firms Coatue Management and Horizons Ventures are the firms in talks with Slack, according to TechCrunch. The round, which is not yet closed, would value the company at between $2.5bn and $2.6bn.
Founded in 2009, Slack has created a freemium workplace communication app that enables users to exchange messages and files.
As of last month the app had accumulated 500,000 daily users in its first year of operation, and its repeat usage is said to be a significant part of its attraction to investors. Slack has raised about $180m in overall funding.
In addition to reporting the possible fundraising, TechCrunch claims Slack has also begun very early work on sourcing a replacement for co-founder Stewart Butterfield as chief executive, preferably someone “more operational,” though this has of course been denied by the company.