Slack reported narrower losses than Wall Street had been expecting last night. CEO Stewart Butterfield discusses the costs that contributed to the company's latest earnings report.
's Office 365 suite, but are choosing Slack for messaging anyway, instead of the competing Microsoft Teams app., Butterfield told analysts that the company now has more than 50 customers paying at least $1 million a year, up from 30 in the same quarter a year earlier. He said almost 70% of those customers also use Office 365, which includes popular products like Word, Excel, PowerPoint and SharePoint.
Slack has tried to get the market to focus on Slack's engagement metrics, noting that Microsoft may count people as users even if they're not really using Teams, but simply have it open while using other Office 365 apps and services. Butterfield said, "just look at the weak engagement numbers that Microsoft themselves reported about Teams."
Butterfield acknowledged in the Q&A part of the analyst call that there's confusion in the market, which is "deliberately created." He said that Teams has users who were recently. Now, when they use that service to make a phone call, they're a Teams user.
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