Slack Technologies (WORK) - Get Report was rising Friday after the corporate communications platform said it had more than 12 million daily active users in September, an increase of 37% from a year earlier.
Slack said users rose from the 10 million it had as of the quarter ended Jan. 31.
"We're seeing a generational shift in how we collaborate at work. People are moving away from email and into channels, away from legacy suites of badly connected products and onto a new customizable platform that can more easily connect the tools they use to work," said Brian Elliott, Slack's vice president and general manager of platform, in a blog post. In September 2019, we exceeded 12 million people actively using Slack every day - up approximately 37% year over year. In addition, with more than 6 million paid seats, the number of engaged and active people who are relying on Slack continues to grow rapidly."
"What does this active use look like? It adds up to more than 5 billion actions weekly on average, including reading and writing messages, uploading and commenting on files, performing searches, and, most importantly to us on the Platform team, interacting with apps," said Elliott added.
The stock gained 4.37% to $24.86 on Friday. The stock had its public debut in June.