Afternoon Coffee: Slack Raises $427 Million in Series H Round, China Announces 25% Tariffs as Negotiators Meet

AdobeStock/Nongnuch Leelaphasuk

Workplace chat platform Slack confirmed Tuesday it had raised an eye-popping $427 million in a Series H funding round at a valuation of more than $7.1 billion, according to TechCrunch. The string of large funding events is yet another vote of confidence for Slack, which is in use everywhere from newsrooms to large corporates. Many procurement software providers have even taken note, aspiring to add “Slack-like” collaborative capabilities to their offerings.

Trade War Update 

China announced the latest tit-for-tit trade measures Wednesday in its ongoing trade war with the U.S., slapping 25% tariffs on $16 billion worth of U.S. goods, according to CNBC. The duties come amid an ongoing negotiation in Washington between the countries on how to deescalate trade tensions.

Air Conditioner Production

While the trade war rages, companies are increasingly looking to move production away from China to mitigate potential costs. One example comes from the air conditioner industry, where Carrier and Toshiba are looking to move production to India.

Oil Prices 

And finally, an energy update: Falling U.S. petroleum reserves pushed oil prices higher Wednesday, gaining 1.3% to $66.66 a barrel on the New York Mercantile Exchange, The Wall Street Journal reports. The American Petroleum Institute released data Tuesday showing a 5.2 million-barrel decline in U.S. crude oil stockpiles for the week ended Aug. 17.

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  1. Pierre Laprée:

    “Many procurement software providers have even taken note, aspiring to add “Slack-like” collaborative capabilities to their offerings”
    Or rather than trying to mimic what Slack has (literally) spent hundreds of millions euros on building, some decide to integrate with it so that you can get the best of both worlds 🙂

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