Softbank invests in Slack as unicorn startup funding spree continues, valuing startup at $5bn

 
Lynsey Barber
Follow Lynsey
TOPSHOT-ENTERTAINMENT-US-FAIRE-SANFRANCISCO
Slack is the latest startup valued at more than $1bn that Softbank has invested in (Source: Getty)

Softbank has ploughed more cash into another "unicorn" startup, this time, Slack.

The Japanese form's Vision Fund has led a $250m investment in the US tech firm which values it at $5bn. Accel, an early investor, also joined the series G round.

The spending spree follows recent cash for WeWork, the co-working space startup, talk of an investment in either Uber or Lyft, and cash for Ola and Didi, ride-hailing giants in India and Asia - all of them valued at more than $1bn.

Read more: Goldman Sachs backs UK fintech startup Neyber with massive £100m

The spending spree gives Softbank's massive $100bn fund, backed by the likes of Apple, Qualcomm, Foxconn and Saudi Arabia's sovereign wealth fund, a stake in several of the most highly-valued private technology companies in the world.

Slack said the fresh cash, which brings the total it has raised to $841m, is not even necessary and will add to its existing capital as it heads toward becoming cash-generating, but gives it long term backing.

Related articles