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Financial Markets Slack plunges 11?ter Microsoft’s competing messaging platform extends its lead with 20 million day-to-day active users


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Financial Markets Slack plunges 11?ter Microsoft’s competing messaging platform extends its lead with 20 million day-to-day active users

Reuters Microsoft reported Tuesday that Teams, a messaging competitor to Slack, has 20 million daily active users.  Slack plunged as much as 11% on the news. In October, Slack reported 12 million daily active users. In addition to having more daily active users than Slack, Microsoft also said that Teams users grew by more than…

Financial Markets Slack plunges 11?ter Microsoft’s competing messaging platform extends its lead with 20 million day-to-day active users

Financial Markets

Financial Markets FILE PHOTO: The Slack Technologies Inc. logo is seen on a banner outside the New York Stock Exchange (NYSE) during thew company's IPO in New York, U.S. June 20, 2019.  REUTERS/Brendan McDermid Reuters

  • Microsoft reported Tuesday that Teams, a messaging rival to Slack, has 20 million everyday active users.
  • Slack plunged as much as 11%on the news. In October, Slack reported 12 million daily active users.
  • In addition to having more everyday active users than Slack, Microsoft likewise stated that Groups users grew by more than 50%since its last report in July.
  • Watch Slack trade reside on Markets Expert

Shares of Slack fell as much as 11%Tuesday after Microsoft reported that its competing messaging item, Groups, has 20 million everyday active users.

That’s 8 million more users than Slack, which reported 12 million day-to-day active users in October.

It’s also a substantial gain in the lead Microsoft already had over Slack. In July, the company announced that it had 13 million everyday active users That means that Microsoft has seen use of Groups increase more than 50%in the last couple of months. Microsoft shares were reasonably the same Tuesday..

Slack, on the other hand, has argued that while it does not have as numerous daily active users, the ones that do utilize the application spend more than 9 hours a day utilizing it, revealing that people really like utilizing the item

The company has likewise previously called out Microsoft for its company practices, calling it ” remarkably unsportsmanlike” Microsoft provides Teams free of charge to organisations that utilize Microsoft Workplace 365, which might indicate that it’s counting users that don’t in fact use Teams extremely frequently, Slack CEO Stewart Butterfield has actually declared.

Slack is down more than 45% since spiking almost 50%throughout its very first day of public trading in June.

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Slack has an agreement price target of $2965 and 9 “buy” scores, 8 “hold” rankings, and two “offer” ratings from experts covering the company, according to Bloomberg information.

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