Microsoft Teams is making Slack investors nervous with its growth
.png)
Investors in Slack Technologies Inc., reeling from news Tuesday that Microsoft Corp.’s Slack killer is growing faster than expected, may need to get used to it.
Microsoft Teams, which grew 54% since July to more than 20 million daily active users, is on a trajectory to double Slack’s customer base by early next year as more corporations adopt group chat. Last month, Slack said its daily active users improved 20% to 12 million from 10 million in late January.
Shares of Slack slumped 8% to $21.18 on Tuesday. They are down nearly half from a 52-week high of $42.
The speed with which Teams is being adopted among corporations – Microsoft says Teams is its fastest-growing business app, and it has 350 customers with at least 10,000 people using the app – makes it the “biggest risk” yet for Slack, Wedbush Securities analyst Daniel Ives told MarketWatch in a phone interview.
“The Street had estimated 16 million daily active users for Teams, and Microsoft beat that number by 25%,” said Ives, who gives Slack shares an Underperform rating with a price target of $14 a share. “The 20 million announcements [on Tuesday], on the heels of the Salesforce-Microsoft accord, has Slack investors nervous.”
Last week, Salesforce.com Inc. said it planned to integrate its Sales Cloud and Service Cloud product with Teams in a move to benefit customers of both companies, ratcheting up even more pressure on Slack, which is largely championed by end-users at companies.
“Slack has a great business model that has worked so far to date,” Ives said. “But as they go further upstream into Microsoft turf, it will have problems.”
Indeed, a survey of 901 organizations by IT network Spiceworks last year already found 21% use Teams compared with 15% for Slack. Skype for Business is the most popular chat app, at 44%.
Teams continue to benefit from Microsoft bundling it with some of its most popular offerings through Microsoft 365. Among the latest corporations to adopt Teams are Alcoa Corp., Telefonica S.A., L’Oreal S.A., and Trek Bicycle Corp., Microsoft said in a blog post-Tuesday. What is more, the software giant claims 500,000 organizations use Teams -- including 91 of the Fortune 100.
Slack characterized Teams’ growth as misleading, with a large slice of its customer base only using Teams occasionally.
“As we’ve said before, you can’t transform a workplace if people aren’t actually using your product. Slack continues to see unmatched engagement on our platform with 5+ billion weekly actions, including 1+ billion mobile actions,” a Slack spokesman told MarketWatch in an email. “Among our paid customers, users spend more than 9 hours per workday connected to our service, including spending about 90 minutes per workday actively using Slack.”
Slack pointed to a blog post last month, in which it claimed 70% of Slack’s top 50 customers are on Office 365.
In a reply to Slack’s statement late Tuesday, Microsoft said it defines DAU as “the maximum daily users performing an intentional action in the last 28-day period across the desktop client, mobile client and web client.” It said Teams customers last month “participated in more than 27 million voice or video meetings and performed over 220 million open, edit, or download actions on files stored in Teams.”
Gartner analyst Larry Cannell cautioned that Teams is increasingly taking on Skype for Business’ meetings workload, making comparisons between Teams and Slack users isn’t entirely fair.
source marketwatch
Industry: Unified Communications
Latest Jobs
-
- Senior Cyber Security Analyst / Engineer. Exclusive role
- United Kingdom
- 75000
-
Senior Cyber Security Analyst / Engineer. Exclusive role Hybrid role- Travel to London once a month. ROLE Day to day operations, management and scalability of existing cyber security systems. Advanced triaging and troubleshooting security alerts. Improve tooling, reducing false positives. Improve processes and documentation Reviewing, approving, escalating security change management requests. Implementing new cyber security systems. Managing of and maturing security tooling such as; SIEM Vulnerability management Firewalls Patch management CASB Ideal technical experience Vulnerability Management: Qualys Forcepoint: CASB, DLP, web security, email security Microsoft Defender for Endpoint SIEM (Splunk) Firewalls: Cisco, Palo Alto, Juniper, Sonicwall IDS: Alert Logic Microsoft Cloud App Security Microsoft Azure ManageEngine ADAudit Plus Darktrace, Cloudflare, Cisco Umbrella, Imperva WAF Appreciation of ISO27001, GDPR, PCI, etc
-
- Security Operations Senior Technical Analyst, Financial Services. Exclusive to DCL Search
- London
- 75000 + benefits
-
Exclusive Security Operations - Senior Technical Analyst (x2) needed within a forward thinking financial services business head quartered in London. DCL Search have been engaged on an Identifier Project to attract the very best cyber talent to this business. Influence the cyber security capability and direction within the business. Learn new skills working within a collaborative team. Grow as a security professional. ROLE Triaging and troubleshooting security alerts. Improve tooling, reducing false positives. Improve processes and documentation Reviewing, approving, escalating security change management requests. Day to day operations, management and scalability of existing cyber security systems. Implementing new cyber security systems. Managing of and maturing security tooling such as; SIEM Vulnerability management Firewalls Patch management CASB Ideal technical experience Vulnerability Management: Qualys Forcepoint: CASB, DLP, web security, email security Microsoft Defender for Endpoint SIEM (Splunk) Firewalls: Cisco, Palo Alto, Juniper, Sonicwall IDS: Alert Logic Microsoft Cloud App Security Microsoft Azure ManageEngine ADAudit Plus Darktrace, Cloudflare, Cisco Umbrella, Imperva WAF Appreciation of ISO27001, GDPR, PCI, etc 2 days a fortnight in London- or more if you want.. Hybrid reworking.
-
- It's Pen Testing Chris, but not as we’ve know it.
- United Kingdom
- 95000
-
5 reasons, as long as you are a skilled penetration tester (and a nice person) this may be different enough for you. Healthy package for the right talents- before you ask up to 95k+ (depending on skillset). Yes permanent only. Remotely based with the occasional time to meet up- unless you enjoy retiring from society. BUT UK based but not UK client focused. Research and training time- A dedicated trainer with budget for you to sharpen / develop skills. You can make your stamp. It’s a new role for someone technical to deliver, lead and shape a testing capability. No political shenanigans etc Exclusive to DCL Search and not one of the usual names. So you can dramatically increase your chances of securing it. Infrastructure pen testing and Web app / Manual penetration testing experience highly valued. Someone that can scope, deliver pen testing, report and not be useless in front of clients. Apply today to find out more. Or email Chris.Holt@dclsearch.com Or call 07884666351 This is a UK based role.
-
- Ping Contractor-
- N/A
- Depends on skills and experience
-
Looking for experienced PIng Consultants, Looking for consultant with Implemenation or Architect experience in the Ping product set (Ping Identity, Ping Federate, Ping Access, Ping Directory, Ping Adapter development, SDK etc) This would be for implementation projects, working across UK. You will be responsible for providing implementation services to our clients from information gathering through to implementation. Evaluating client business, process, systems, and technology requirements and advise clients on best practices to help guide and solidify proposed designs. Manage Client expectations, Stakeholder Managment, ensuring design Matches business requirements