Evidence is mounting that Vancouver’s Hootsuite and Ottawa’s Shopify are already valued by private investors at $1 billion—but if that speculation is untrue, then a stealthy up-and-comer might reach the mythical figure first.
Slack, the latest creation from Canadian serial entrepreneur Stewart Butterfield, may be raising a round of capital that could value the Vancouver-born company at up to $1 billion, according to TechCrunch.
It would definitely be a shocking twist, given that Shopify is 10 years old and Hootsuite is six years old. Slack is five years old, but its current iteration—the one that raised a $43 million round earlier this year—is really only about a year old. (Before that, it was known as Tiny Speck, which launched a failed online game game called Glitch.)
Regardless, Butterfield, who founded Flickr which Yahoo acquired, is now in a prime position to catch up to—and perhaps surpass—Hootsuite and Shopify, who for years have looked poised to become Canada’s next tech titan behind BlackBerry and OpenText.
Next question: who will IPO first?