One can argue that Slack is overpriced, but writing like this is silly:
"To put it another way, if Slack had the same annual revenues as LinkedIn at $1.5 billion in 2013, it would be valued at almost $140 billion and become one of the most valuable technology companies in the world."
The Price to Sales ratio doesn't stay constant. It's out of whack in startups on the assumption that the startup grows into it. Comparing Price to Sales of a startup versus a mature firm is just plain stupid.
"To put it another way, if Slack had the same annual revenues as LinkedIn at $1.5 billion in 2013, it would be valued at almost $140 billion and become one of the most valuable technology companies in the world."
The Price to Sales ratio doesn't stay constant. It's out of whack in startups on the assumption that the startup grows into it. Comparing Price to Sales of a startup versus a mature firm is just plain stupid.