We just launched an integration with Slack and to celebrate, we're releasing a new edition of Founder Calls with special guest Stewart Butterfield, Slack's CEO and co-founder. Our longest episode of Founder Calls yet, this wide-ranging conversation hosted by Aaron Levie, touches on Stewarts journey as an entrepreneur, the future of enterprise software, fundraising, valuations and the state of the digital enterprise.
There's something for everyone in here, so give it a listen. A few of our favorite quotes from the discussion:
On first using enterprise software at Yahoo!: "I was just f*cking blown away by how terrible the software was. The intranet, the benefits, the payroll system, the expense tracking. Every bit of enterprise software that they purchased was so thoughtless and brutal."
Life after Flickr: "Ultimately, I wanted to work with this team again. Late 2008, early 2009...I wanted to make a bank. I couldn't convince anyone else that it would be fun to make a bank. They said, 'making a bank will be super boring. All the code has to be auditable. It's just not going to be fun for us, but it will be super fun to make a game, so let's make a game instead.'"
On Founding a Company: "It's a great time. It totally depends on your personal inclination and your appetite for risk and how you're going to feel about yourself if you screw it up, but It's a great time to start a company. The market for raising capital is roughly the best time ever. The tech changes are fantastic. The cost of production is super super low. There's going to be so many more things over the next 20 years...that when we look back 20 yrs from now we're going to look back and say oh no shit that someone did that. That was an obvious idea...that no one is going to think about for 5 years and is suddenly going to be genius."
On Slack's Valuation: "2.8B is an insane valuation for our current revenue. There's no justification. Unless you believe that the rate of growth can continue. Our last double in revenue was 96 days. The one before that was 100 days. We are staying at around that same rate of growth. It's been 5.5% compound weekly growth for the last 70 straight weeks. AND we're not burning a lot of money.
On its latest round of funding: "We don't have plans to spend it right away, but it is useful to have 160 million real us dollars in the bank just in case you need it."