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Slack valued at $5.1 billion in its latest fundraising

Workplace messaging app Slack raised $250 million from SoftBank Group Corp in its latest fundraising. The software startup's valuation increased to $5.1 billion.

According to Slack Chief Executive Stewart Butterfield, the company is destined for an IPO eventually but it would not happen until after 2018.

Every day Slack is used by 5 million people, of which 1.5 million have paid for subscription.

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