If one answers that with just "workplace chat messaging", Slack looks redundant and unnecessary since the world already had IRC, ICQ, AOL AIM, Yahoo Chat, Skype, etc.
E.g. in the early Facebook years (~2005), Zuckerberg and his team used AOL AIM as their chat system at work because Slack didn't exist. Early Twitter is another example where Jack Dorsey and coworkers used AOL AIM for workplace chat. (Indeed, Jack even said he got inspiration for Twitter from AIM's "away status" feature)
So we have to find the differentiator of Slack that attracted businesses to adopt it instead of just using IRC or Skype:
- Slack lets people subdivide the chat space into "virtual rooms" or "channels" as a 1st-class concept. This is something that the older AOL AIM, Skype, Pidgin client, etc didn't do. This feature is helpful for businesses because you have multiple projects or teams where multiple people collaborate with various subsets of employees. The older chat systems enabled 1-to-1 messaging based on userid but not on "topics" with 1-to-many participants.
- Slack userids are scoped to the company which is more acceptable for private chats within the business. In contrast, the userids in AOL AIM were global ids and therefore not constrained to the particular company's communication. (Slack added ability to chat outside the company recently in 2021: https://www.google.com/search?q=slack+chat+with+other+compan...)
- IRC had topic channels but corporations don't want to hassle with admins setting up internal IRC servers and plain IRC doesn't have desired features such as chat history without additional effort (i.e. IRC bouncer). In contrast, using Slack for workplace chat is just a few clicks in the cloud.
In short, Slack had a combination of some extra useful features and near-zero admin (cloud).