Salesforce’s acquisition of Slack for USD 28 Billion, and its impact on the remote economy workforce
Salesforce has announced its intent to acquire Slack, the chat platform for work, in a USD 27.7 billion deal last week. This will allow the enterprise cloud giant to compete more directly with Microsoft; it also positions the company to capitalize on the growing trend of people using tools such as Slack for “work from home” purposes because of the pandemic.
In a Forbes article (https://bit.ly/2VtINlQ), Salesforce Chairman and CEO Marc Benioff said:
“This is a match made in heaven… Together, Salesforce and Slack will shape the future of enterprise software and transform the way everyone works in the all-digital, work-from-anywhere world.”
Lockdowns have boosted companies such as Amazon and Netflix because of more people spending time at home, as well as companies such as Slack, Zoom and Docusign because of more employees working remotely.
BITA has been following these trends closely and as a result, launched the BITA Remote Economy Giants Index earlier this year. The index is composed of US companies who derive at least 80% of their revenue from online activities such as videoconferencing, online food delivery, online gaming, and E-commerce, among others. As our professional and personal lives continue to be altered, these companies are best positioned to benefit from this massive structural shift.
Index Composition
As of November 30th, the BITA Remote Economy Giants Index constituents were:
And as of late November, the BITA Remote Economy Giants Index outperformed the SPY Total Return by 71.7%.
By identifying, through an objective rules-based methodology, the leading companies operating in sectors expected to benefit from these structural changes, the BITA Remote Economy Giants Index provides focused exposure to companies well-positioned to weather the storm and leverage these societal changes.
At BITA, we use a transparent, consistent, and straightforward construction process that ensures true exposure to megatrends. Moreover, our state-of-the-art index development software allows us to be very flexible and quick in designing and implementing innovative passive solutions for our clients.
To learn more about BITA’s real-time data products visit our website at http://www.bitadata.com or contact us at info@bitadata.com.
