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(Pocket-lint) - Slack better watch its back.

Microsoft owns Skype, and it doesn't like that Slack is currently dominating in the messaging software space for large teams, so the company is reportedly getting ready to do something about it. According to MSPowerUser, Microsoft is developing a new messaging software that offers much of the same functionality found in Slack. The project is called Skype Teams, and it's geared toward businesses, large teams, newsrooms, and more.

These types of organisations, including Pocket-lint, already use Slack on a daily basis, which probably upsets the people behind Skype, as that chat app has been around a lot longer and offers more premium features like video calling. But Skype Teams could lure Slack users away. It supposedly looks like Slack and offers Slack features such as channels, private messaging for groups, file sharing, and support for emojis and GIFs.

Skype Teams will also offer Threaded Conversations, allowing users to respond directly to a comment. And, of course, thanks to the foundation of Skype, users will also be able to start video chats in both channels and private messages. Keep in mind, according to TechCrunch, Microsoft once considered buying Slack for as much as $8 billion, but Microsoft co-founder Bill Gates and CEO Satya Nadella were unconvinced by the idea.

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Instead, they wanted Microsoft to bulk up Skype with Slack-like features. And now it looks like that's the route Microsoft ended up taking.

Writing by Elyse Betters.