[empath75]

I don’t think there’s fundamentally anything wrong with slack though. Investors just don’t understand it, I don’t think. I’ve read so many articles about how Microsoft is going to crush it with teams and it’s so obvious to anyone who has had to work with both of them that they simply are not competitors — really the only thing close to it is Discord and it’s not going after the enterprise market.

[jjeaff]

Microsoft Teams is definitely a direct competitor, and while it may not be nearly as good as slack, there are few companies out there with as many tentacles in Enterprise as Microsoft.

It would not be uncommon for an inferior product to win a significant market share. Especially when it comes to Enterprise software.

[NotSammyHagar]

The barrier to entry to compete with slack is fairly low. And Discord can just decide to start focusing on enterprises. Microsoft is just one company with the leading office suite that happens to be really kludgy. Slack has its pluses and minuses. So just because slack works great and is fun to use, and has lots of companies giving them money, doesn't mean they are worth their huge valuation. They aren't getting enough money, and another hipchat like competitor can come along and do even better. The best thing slack has is they are the default safe choice.

I say this as a slack stock holder who lost money, so I clearly know what I'm talking about ;-)

[AlexCoventry]

The only way slack's valuation makes sense to me is that it could be used as a covert business-intelligence tool. I tend to think of github the same way.