Slack turned one year old today.
The company, founded by Vancouver serial entrepreneur Stewart Butterfield, is the “fastest-growing business app on record.” And now it has released numbers to back that bold claim up.
Slack, a runner-up for Startup of the Year in the Canadian Startup Awards, now boasts 500,000 daily active users across 60,000 teams (including 135,000 paid accounts). In 2015 alone, the active user base has jumped 35, the company says.
“Messaging has emerged as one of the most fundamental applications of the Internet, and its value is shifting into our work lives,” says Butterfield, CEO.
Every month, users are collectively spending over 100 million hours connected to Slack and sending 300 million messages through the platform, according to Butterfield, who was named Entrepreneur of the Year in the Canadian Startup Awards. Nearly two billion messages were sent in 2014.
“Slack radically increases internal transparency and turns communication archives into a powerful shared resource,” Butterfield says.
Slack, which is now valued at more than a billion dollars, currently sits at only $12 million in annual recurring revenue; very impressive for a year old, not so much for its valuation. But the Canadian-born company says it’s adding a million dollars to that figure every 11 days—a blistering financial growth pace.
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“We feel safe predicting all businesses will move a centralized system for communication within the next 10 years,” says Butterfield, who adds Slack’s growth “has no parallel.”