Slack Logo Controversy Overshadows Massive Startup Funding Rounds
Venture capitalists keep busy with massive funding rounds for Rubrik and Knock, but a controversial Slack logo redesign steals the spotlight in this week's startup news.
The tech world kicks off 2019 with massive venture capital activity, but a controversial branding update dominates the conversation. As part of its public listing preparation, Slack unveils a slightly altered logo that immediately draws widespread criticism and accusations that its negative space resembles a swastika, prompting many to wish the $7 billion company had left its original design alone.
Amid the branding uproar, data management startup Rubrik raises a $261 million Series E round that more than doubles its valuation to $3.3 billion. The company's CEO embraces a typical unicorn strategy by remaining intentionally unprofitable to prioritize market transformation and rapid growth over short-term earnings.
Other sectors show significant financial momentum as real estate tech startup Knock secures $400 million to challenge Opendoor and expand nationally. Additionally, cybersecurity investment surpasses $5.3 billion globally in 2018 despite a decrease in overall deal count, proving that protecting networks and data remains a top priority for venture capitalists.