Shares of Slack dropped more than 20% in after-hours trading following its fiscal fourth-quarter earnings, after dropping nearly 10% in regular trading. While the workplace chat software provider is seeing a spike in usage as more people work from home during the coronavirus epidemic, CEO Stewart Butterfield said it was unclear how much of this usage would translate into paid subscribers. As a...
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Twilio, Set to Lose Supervoting Protection Next Month, Has Been Meeting With Activist
Activist investor Legion Partners, which owns a stake in Twilio, has met several times with the company’s board of directors and management, urging them to make changes to the board and consider divestitures, among other moves, according to people familiar with the matter. The conversations come at a critical moment for the $11.5 billion communications software company. Its use of...
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