It took the corporate messenger Slack just five years to gain popularity and gain a user audience of 10 million people. Now online sources are writing that the company intends to enter the New York Stock Exchange with a valuation of about $15,7 billion, with an initial price of $26 per share.
The report said the company has decided not to pursue an initial public offering (IPO). Instead, existing Slack shares will be listed on the stock exchange without prior trading, and their price will be based on supply and demand. This also means that the company does not intend to issue additional shares or attract investment. According to experts, Slack shares will trade above the stated minimum price. In this case, the announcement of a lower price of securities will contribute to the growth of the company's shares.
Let us remember that the corporate messenger Slack was officially launched in 2014. The company's securities were placed on the private stock market. Over the past few weeks, Slack's stock price has been hovering around $31,5 per share. At the end of the financial year, which ended for Slack on January 31, 2019, the companyβs income almost doubled, reaching $400 million. At the same time, the companyβs net loss amounted to about $139 million.
Note that Slackβs decision to refuse to participate in the IPO is not the first in history; similar cases have been recorded in the past. For example, in 2018, the popular music service Spotify did the same.
Source: 3dnews.ru