I'm guessing the answer is "yes", but have you taken a look at their S-1 filing? There is tons of addressable market out there for them, and their paying cohort

I'm guessing the answer is "yes", but have you taken a look at their S-1 filing? There is tons of addressable market out there for them, and their paying cohorts (year-by-year) have been accelerating in next-expand ARR (page 68): https://sec.report/Document/0001628280-19-004786/ https://sec.report/Document/0001628280-19-004786/ I do agree that product iteration has been slow. That's been a big problem for Slack, and it's my biggest speculation on their valuation. As someone who has seen inside the company (don't work there), their engineering teams have a ton of technical debt they've been making their way through and trying to set right.