For the second time in less than 24 hours, a business purchased an early-stage startup. The other day afternoon DocuSign obtained Liveoak, and this morning Slack announced it was buying business directory site start-up Rimeto, which must assist workers discover individuals inside the company who match a particular set of criteria from inside Slack. The business did not share the purchase price. Rimeto helps business construct directory sites to discover staff members beyond using tools like Microsoft Active Directory, homegrown tools or your business email program. When we covered
the company’s$10 million Series An in 2015, we described what it gives directory sites this way: Rimeto has developed a richer directory site by sitting between different business systems like HR, CRM and other tools which contain additional details about the employee. It of course consists of a name, title, email and phone like the standard business system, but it goes beyond that to find locations of proficiency, forecasts the individual is working on and other details that can help you discover the right individual when you’re searching the directory.
In the purchase versus construct equation that business stabilize all the time, it looks like Slack weighed the benefits and drawbacks and chose to buy. You could see how a tool like this would be useful to Slack as people attempt to construct groups of staff members, especially in a world where a lot of are working from home.
While the existing Slack people search tool lets you search by function, team or name, Rimeto needs to give users a far more robust method of searching for staff members throughout the company. You can look for the ideal person to help you with a particular issue and get much more granular with your search requirements than the current tool allows.
Image Credit: Rimeto At the time of its funding statement, the business, which was established in 2016 by 3 former Facebook workers, informed TechCrunch it had bootstrapped for the first 3 years before taking the $10 million investment in 2015. It likewise reported it was cash-flow favorable at the time, which is pretty uncommon for an early-stage business SaaS company.
In a business blog post announcing the offer, as is common in these deals, the creators saw becoming part of a larger organization as a method to grow more quickly than they might have alone. “Joining Slack is an unique opportunity to speed up Rimeto’s objective and impact with higher reach, broadened resources, and the support of Slack’s impressive worldwide team,” the founders wrote in the post.
The acquisition is part of a continuing trend around business purchasing early-stage startups to fill out holes in their item plan.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.