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Is there a open source, self hosted product like Slack?

Edit: Never mind, others have already mentioned a couple, down the comments - for example, http://www.mattermost.org/

We use http://rocket.chat . Its open source, offers a slack compatible api, multi-user video chatting, screen sharing and has mobile/desktop applications.

Has it been reliable ? We are testing with a few users but curious how it works at any kind of scale ?

There's a deluge of them. Pick your poison:

http://alternativeto.net/software/slack/?license=opensource

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