*By Carlo Versano*
Slack, the popular workplace communication tool, is now valued at more than $7 billion.
The company announced Tuesday it closed a new $427 million funding round, making it one of the most valuable privately held tech start-ups ー and strengthening its position against tech titans like Microsoft, Google, and Cisco, all of which have their own enterprise products competing in the space.
San Francisco-based Slack, which allows members to talk in private chats and group channels, [said in a blog post](https://slackhq.com/slack-raises-series-h-round-of-financing-from-new-investors) it would use the capital investment to grow its business, which now has more than 8 million daily active users and 70,000 organizations paying for access.
The new valuation, up almost 40 percent from the $5.1 billion it was worth last year, makes Slack more valuable than Vice Media, fintech firm Robinhood, and online sports marketplace Fanatics, according to CBInsight's [Global Unicorn Club](https://www.cbinsights.com/research-unicorn-companies).
The funding round was led by General Atlantic and Dragoneer Investment Group and included T. Rowe Price, Wellington Management, Baillie Gifford and Sands Capital. Last year, Slack got a $200 million cash infusion from [Softbank's Vision Fund](https://www.recode.net/2017/9/18/16324754/softbank-slack-investment), the massive venture capital fund that has pumped billions into some of the most high-profile unicorns in Silicon Valley. It's raised more than $1 billion to date.
The federal tax collector said Monday that roughly 940,000 people in the U.S. have until May 17 to submit tax returns for unclaimed refunds for tax year 2020, which total more than $1 billion nationwide.
Allies of Florida Gov. Ron DeSantis and Disney have reached a settlement agreement in a state court fight over how Walt Disney World is developed in the future.
Ahead of the WNBA season and in the midst of March Madness, New York Liberty CEO Keia Clarke discusses the team’s new deal with Barclays and bringing even more attention to women’s sports.
U.S. Nissan head Jérémie Papin joins from the New York International Auto Show to give a preview of what’s to come from the carmaker – including the 2025 Nissan Kicks.
Ed Mitzen, the CEO of Business for Good, explains how and why he’s giving back by funding businesses from marginalized entrepreneurs to push social change.
Dana D’Auria, co-CIO at Envestnet, breaks down how she’s expecting markets to perform as ‘cracks’ from the rate hike cycle slowly filter into the economy.
