A recent report claims that a Slack IPO may no be the way the company chooses to go public.
According to this report, the company may choose to go with a direct listing rather than a Slack IPO. A direct listing isn’t unheard of, Spotify (NYSE:SPOT) did the same, but it doesn’t follow the typical avenue that companies use when taking their stock public.
These current reports about a direct listing taking place instead of a Slack IPO come from sources with inside knowledge on the matter. If their words hold true, it looks like we will be seeing the Slack direct listing take place sometime in the second quarter of 2019.
A report back in December claimed that a Slack IPO was in the works. This report said that the company was working with Goldman Sachs as the head of the IPO effort. However, it looks like things have changed since then, reports New York Post.
Even without a Slack IPO, the company may see success with a direct listing. It currently has some 8 million active users a day. A recent funding effort late last year also set the value of the company at $7.1 billion, Business Insider notes.
Slack is a productivity service that helps employees get in contact with each other via a messaging service. It also offers other service that can help companies to better manage their workers’ time.
As of this writing, William White did not hold a position in any of the aforementioned securities.