Slack names Allen Shim as firm’s first CFO

Enterprise



In a weblog submit this morning Slack CEO Stewart Butterfield introduced the corporate is naming long-time worker Allen Shim as the corporate’s first CFO.

“At the moment, I’m excited to announce one other milestone: Allen Shim has been appointed Chief Monetary Officer for Slack,” Butterfield wrote within the weblog submit. He went on to explain Shim as his proper hand man, who has been with the corporate from its earliest days.

A CFO signifies a maturation for the Four-year-old firm. Launched in 2014, Slack has raised $790 million, in line with knowledge on Crunchbase. Its most up-to-date spherical was a $250 million funding led by Softbank Imaginative and prescient Fund (who else?) final September. The corporate has a valuation of over $5 billion.

New Slack CFO, Allen Shim. Photograph: Slack

Butterfield additionally identified that the corporate introduced Sarah Friar on board final yr as their first impartial board member. Each of those strikes may very well be a sign that the corporate is making ready to IPO in some unspecified time in the future down the highway. Should you learn between the traces within the weblog submit, Butterfield prompt that these strikes are a part of a longer-term plan.

“These adjustments present in our outcomes and our readiness to benefit from the chance forward. We need to proceed constructing a enterprise that may serve our rising international person base for the long-term, and elevating Allen to CFO is a notable a part of making that occur,” he wrote.

During the last yr, the corporate has expanded the core product including Enterprise Grid, a model of Slack designed to scale for enterprise clients. It additionally launched Shared Channels in September.

As of September, the corporate had 6 million each day lively customers. On the time, Slack indicated it had greater than 50,000 groups paying for the product and had surpassed $200 million in annual recurring income.



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