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No. of Recommendations: 10
I ended up selling my position after having been holding since their IPO. Been a fan of their product for awhile, and I believe it's superior to Teams as well.

They should be doing extremely well in this environment. There was even a well researched Seeking Alpha podcast about Slack benefiting more than Zoom from this environment. That has not panned out at all and for various reasons they are nonperforming.

Getting sick of them always talking about concessions they are giving customers. This was happening even pre-covid when they claimed they missed their service level agreement for up-time, and refunded all customers affected with $7 million in a quarter. The customers were not even asking for their money back either.

Their sales team seems to be doing poorly and they almost never talk about sales in the earnings call. It's a big contrast to companies like CrowdStrike and Cloudflare which place an emphasis on enterprise sales and unit economics.

Slack is a vital tool for many organizations, but the issue is they do not charge enough for their product. It's on a per user basis and traffic has spiked massively. This is why the usually lose a lot on actual earnings, although it was somewhat promising they broke even on non-GAAP earnings. Slack's prices should be much higher than they are as I saw some actual billings for them and was shocked how low the price was.

The company just seems too product focused and on trying to do good. In their previous earnings call they spent longer than I've ever heard any company talking about supporting the current social movements. Would be better if they spent just a little time looking to reward investors instead of sabotaging themselves to "do good".
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