Slack, the newly-public chat app price about $20 billion, has a hidden which means behind its identify (WORK)
- Slack debuted Thursday on the New York Inventory Trade underneath the ticker “WORK.”
- Buying and selling early Thursday noticed the corporate’s replenish over 50% from its reference value $26 per share. That values the corporate at slightly below $20 billion.
- In a Twitter thread from 2016, Slack cofounder and CEO Stewart Butterfield defined the app’s identify was initially an acronym that stands for “Searchable Log of All Dialog and Information.”
- Go to Enterprise Insider’s homepage for extra tales.
On Thursday, well-liked office chat app Slack made its extremely anticipated debut on Wall Road that valued the corporate slightly below $20 billion.
Slack, which is buying and selling underneath the inventory ticker “WORK,” opted for a direct itemizing, an unusual method permits the corporate to bypass the standard public providing course of and promote shares on to the general public. Shares have been buying and selling up some 50% from its reference value of $26 per share Thursday.
Learn Extra: The superb lifetime of Stewart Butterfield, the CEO main Slack to a possible $15.7 billion valuation when it goes public immediately
Slack’s office chat app skyrocketed in recognition because it was created by CEO Stewart Butterfield in 2009. However not many individuals know the precise which means behind the corporate’s identify, Slack.
Some individuals guessed it is supposed to face for the time period utilized in mission administration, which refers back to the “period of time a delay may take from a job with out inflicting subsequent issues.”
However in accordance with Butterfield, Slack is definitely an acronym. It stands for: “Searchable Log of All Dialog and Information.”
That is precisely what Slack is, though most individuals use it for chatting and sharing hyperlinks and information, and don’t fret concerning the searchability a lot — although, because the New York Instances reported this week, typically individuals seek for their very own identify in an organization’s Slack once they take a brand new job, and don’t love what they discover.
Butterfield shared this by way of a Twitter dialog he had with somebody who requested concerning the identify’s origin, method again in 2016. He additionally notes Slack’s unique codename was once “linefeed.”
Sure. November 14th, 2012 (earlier codename was “linefeed”):— Stewart Butterfield (@stewart) September 27, 2016
Re https://t.co/GbFbiofkWS pic.twitter.com/mhdkWk16o2
Slack joins at the very least one different distinguished tech firm whose identify is secretly an acronym: Yahoo, which initially stood for “But One other Hierarchical Officious Oracle,” a joking reference to its unique product, an online listing.
That is an replace to a submit by Eugene Kim first revealed in 2016.
SEE ALSO: Inside Slack’s direct itemizing: Here is what truly went down between the tech firm and its Wall Road advisers
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