Slack Technologies is planning to go public through a direct listing, the Wall Street Journal reported on Friday, citing people familiar with the matter. Slack, which operates a popular workplace instant-messaging and collaboration app, is likely to debut in the second quarter and currently expects to do so via a direct listing, according to the report. The plan for direct listing will potentially make Slack the second big technology company after Spotify Technology to bypass a traditional IPO, WSJ reported. Slack had hired investment bank Goldman Sachs Group to lead its initial public offering as an underwriter, Reuters had reported in December. Slack did not immediately respond to a request for comment. … [Read more...] about Slack to bypass traditional IPO when going public
Slack technologies
Slack Planning to Pursue Direct Listing
Slack Technologies Inc. is planning to go public through a direct listing, according to people familiar with the matter, potentially making it the second big technology company after Spotify Technology SA to bypass a traditional IPO. Slack, which operates a popular workplace instant-messaging and collaboration app, is likely to debut in the second quarter, the people said. The company currently expects to do so via a direct listing, though its plans could change, they said. ... … [Read more...] about Slack Planning to Pursue Direct Listing
Startups of the week: Capella Space, Astro Technology, Calm
A San Francisco space technology company is gearing up for its first launch next month after securing $19 million in funding. Capella Space was born from CEO Payam Banazadeh’s frustration as he watched the coverage of Malaysia Airlines Flight 370 going missing in 2014. He said he was “totally mesmerized” for weeks and felt disappointed that many governments could not find a huge plane. The company, which was incorporated in March 2016 and received its first round of funding the next June, has spent the past 2½ years developing small satellites that can deliver high-quality images anywhere on Earth under any condition. “We started the company with the goal that if we could essentially miniaturize that technology into a really small package and, as a result of that, change the cost game and launch these satellites in dozens, we will bring a new capability that allows us to monitor our planet very frequently,” Banazadeh said. “And because of the … [Read more...] about Startups of the week: Capella Space, Astro Technology, Calm
Slack Actively Preparing for Early 2019 IPO
Slack Technologies Inc. is actively preparing for an initial public offering in the first half of 2019, with an eye toward going public as soon as the first quarter, according to people familiar with the company’s plans. Slack expects it could achieve a valuation well in excess of roughly $7 billion—the level at which a recent round of financing valued the company, these people said. Still, valuations can change until a company prices its IPO. ... … [Read more...] about Slack Actively Preparing for Early 2019 IPO
Slack Takes Wraps Off $7.1 Billion Valuation Deal
Slack Technologies Inc. has raised a new mega-round of financing that values the company at more than $7.1 billion. The company said Tuesday the $427 million round was led by Dragoneer investment Group and General Atlantic, with participation from T. Rowe Price Associates Inc., Wellington Management, Baillie Gifford, Sands Capital and existing investors. Slack’s announcement follows WSJ Pro Venture Capital’s earlier report that the deal was near. ... … [Read more...] about Slack Takes Wraps Off $7.1 Billion Valuation Deal