Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
The flattening of the yield curve is exuding a bad omen for the stock market if history is any guide.Marketsread more
Hong Kong Chief Executive Carrie Lam announced at a press conference on Saturday that a contentious bill to allow extraditions to mainland China has been put on hold.China Politicsread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
Stratolaunch, the world's largest airplane, which flew once, is up for sale, sources familiar told CNBC.Investing in Spaceread more
Transparency is key… or is it? With the first-ever non-transparent, actively managed exchange-traded fund receiving approval from the SEC, "ETF Edge" goes straight to the...ETF Edgeread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
A new update to the Apple Watch called watchOS 6 will notify you if the environment you're in is too loud and could damage your hearing.Technologyread more
Slack, maker of the popular business messaging app, is now worth more than $7.1 billion.
The San Francisco-based company said on Tuesday that it closed a $427 million funding round, padding its balance sheet as it takes on some of the world's biggest tech companies, including Google, Microsoft and Cisco.
Slack is among the most highly valued tech start-ups, and like consumer companies Uber, Airbnb and Pinterest, it has no plans to go public until at least 2019. Slack, which launched in 2014 and was valued at $5.1 billion almost a year ago, said it's bringing in more capital to go after growth.
"We pursued this additional investment to give us even more resources and flexibility to better serve our customers, evolve our business, and take advantage of the massive opportunity in front of us," the company said in a blog post.
More than 8 million people use Slack every day, and the service has over 3 million paying subscribers. Customers include Autodesk, Capital One, IBM and Target. Last year Slack had $200 million in annualized recurring revenue.
Atlassian was a competitor to Slack with its Hipchat Cloud and Stride services. But in July, Atlassian sold the intellectual property for those products to Slack and took an equity stake in the company.
To date Slack has raised more than $1.26 billion in funding. The newest funding round was led by Dragoneer and General Atlantic, and included participation from T. Rowe Price, Wellington Management, Baillie Gifford and Sands Capital.