It’s been a month since we have seen the COVID 19 virus doing all the buzz in the media. Stewart Butterfield the CEO of the 14 Billion USD messaging App Slack in his recent post on Twitter explained how things have gone crazy since the past one month while he was running a rather new company with a market cap of around 14 billion USD. He tweeted about the same and shared how the shares of his company have gone up and down since past a couple of weeks like the rest of other players in the market. However, he seems to have rallied ever since March 18 eve though it is seen offered with the lower than the expected guidance coming in for his company before 12th March.
He also talked about the rapid growth of the company since the past few weeks when it comes to signing up the Slack. Shares of the Slack have been seen getting bounced as well down over and over since past a couple of weeks like the rest of the market, however, the large has been done ever since it came after March 18 with the lower than the expected guidance of a few days earlier than the above declared date. He also discussed in his Twitter thread asking for a rapid growth that Slack has been witnessing since past a couple of weeks when compared to companies that can come quickly signing up for the messaging service.
As you check his tweet, it can be further broken into different segments. He talked about the Slack management and business aspect first although he started stating that being human he is also concerned about the loss of life and people in the country but in terms of CEO, he has to check what has gone wrong for his business as well. In the first week of March, the COVID affected cases were few but it soon increased in the coming weekend leading the company to shut its offices based in Osaka and Tokyo along with putting travel restrictions as well along with even cancelling certain global level events like the Global Sales Offsite, which expected 800 delegates.
He then expedited things to clean up things with the required set of resources for the team of Slack that one could face with the prospect of a sudden shift in the remote areas. Soon in the board meeting, he was seen debating and then approving the plans for the fiscal year and then hiring and budgeting along with fixing targets along with forecasts and other things. Things turned worse the coming days and he allowed his company employees to work from home as the cases of the virus seemed increasing. In the coming week, he saw the market upside down and the 7 percent fall was witnessed. He has loads of stuff to say but he concluded saying that once we are able to win the war against the virus then things would turn up for the nation and of course for the Slack company as well.