Slack: The Nine-Month-Old Company Worth More Than $1B

The transcript discusses Slack's rapid growth driven by word of mouth and its recent marketing hire. It highlights Slack's benefits over email, such as transparency and access to historical communication. The discussion covers Slack's market position, competition, and its success in tech and media industries. The speaker reflects on past funding challenges during the dot-com crash and compares them to the current environment. Concerns about high startup valuations and financial strategies are also addressed, emphasizing a cautious approach to investment and valuation.

What was the primary driver of Slack's growth before hiring a CMO?

• Word of mouth

• Social media campaigns

• Partnerships with tech companies

• Paid advertising

How does Slack improve transparency compared to email?

• By reducing the number of emails

• By directing messages to channels instead of individuals

• By providing a better user interface

• By integrating with social media platforms

What is one of the key benefits of using Slack for new employees?

• Integration with all social media accounts

• Access to the company's entire communication history

• Free access to premium features

• Automatic email sorting

In which industries has Slack been particularly successful?

• Healthcare and finance

• Education and government

• Tech and media

• Retail and manufacturing

What percentage of Slack's customers reported using no similar tool before?

• 50%

• 70%

• 90%

• 100%

What historical event made it difficult to raise money for consumer-facing internet companies in 2002?

• The 2008 financial crisis

• The 1987 stock market crash

• The 1997 Asian financial crisis

• The dot-com crash

What is Slack's financial strategy to prepare for potential economic downturns?

• Expanding into new markets

• Maintaining a low burn rate

• Raising prices for premium features

• Increasing marketing spend