Slack shares are set to start trading Thursday on the New York Stock Exchange. But don't call it an IPO. The messaging tool, popular with big businesses, is not going public through a traditional route.
The messaging tool, popular with big businesses, is not going public through a traditional route. Slack didn't have investment bankers to pitch its shares to institutional investors. There was no splashy roadshow.Instead, Slack investors will sell shares directly on the New York Stock Exchange under the ticker symbol WORK. The direct listing will allow Slack to avoid a pricey and time-consuming process. But there are risks.
Slack not profitable and sales growth is slowingQuestions about the company's lack of profits could be a problem as well, just as it has been for fellow unicorns Uber and Lyft .Slack reported a net loss of $138.9 million in its last fiscal year. That follows losses of $140.1 million and $146.9 million in the preceding two years. It also posted a loss of $31.9 million in the first quarter of 2019, up from a loss of $24.9 million a year earlier.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Here are the biggest analyst calls of the day: Slack, American Express, TripAdvisor & moreHere are the biggest calls on Wall Street on Wednesday
Consulte Mais informação »
WeWork’s Mounting Lease Debt Looms Over IPO PlansAs WeWork prepares for an initial public offering, it has accumulated a mounting pile of debt and financial obligations that could concern potential investors.
Consulte Mais informação »
Here's how the red-hot IPO market can continue to burn brightWall Street has IPO fever, and Renaissance Capital principal Kathleen Smith says healthy demand for these upstarts should keep the market red-hot this year.
Consulte Mais informação »
RealReal Targeting $1.5 Billion IPO ValuationThe luxury retail site set a $17 to $19 range for its upcoming offering.
Consulte Mais informação »
Beyond Meat is now larger than 80 S&P 500 companies, but IPO euphoria might not lastBeyond Meat has blown up. The plant-based meat company is now larger than 80 S&P 500 companies, including Macy's, Xerox and Mylan.
Consulte Mais informação »