*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.
AT&T announced a new partnership with Swedish communications company Ericsson.
Hackers accessed the personal data of 6.9 million users via the genetic testing company 23andMe.
Stocks fell after the opening bell on Tuesday morning as signs pointed to another losing session.
Bitcoin is once again having a moment. On Monday, the world's largest cryptocurrency soared past $41,000 for the first time in over a year and a half — and marking a 150% rise so far this year.
Tree farmers are raising prices for Christmas trees.
Analysis shows smaller businesses are hiring more people.
Applying for financial aid for college is a long process but there's a new streamlined application for federal student aid. Mark Kantrowitz, student loan expert, joined Cheddar News to explain the FAFSA form and what kind of changes are expected.
With all of the stress surrounding the holiday season with gift-buying and planning family gatherings, it could be a chaotic time for all members of your family, including pets. Cesar Milan and Michael Ehrman, co-founders of Halo Collar, joined Cheddar News to provide tips on how to keep your pets stress-free for the upcoming holiday season.
Going home for the holidays can be pretty expensive, especially if you're a student. Cheddar News senior reporter Michelle Castillo provided tips on how to save ahead of the holiday season.
Alaska Airlines is buying Hawaiian Airlines, stocks finished at their highest level on Friday and are on the way to concluding 2023 on a positive note as Bitcoin surged. And Spotify is laying off workers, again.
