Slack announce direct Listing, Will not go for traditional IPO
Slack Technologies, Inc. announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”) relating to the proposed public listing of its Class A common stock. The public listing is expected to take place after the SEC completes its review process, subject to market and other conditions.
As per the information, Slack opt for a direct listing as opposed to a traditional IPO.
This kind of listing gives other small investors to sell their shares to large investors - a strategy which follows for early trading.
Slack is hoping for a valuation of more than $10 billion in the listing. However, the company did not specify the exact number of shares for the listing.
Founded in 2013, Slack allows teams and...