Slack Technologies, the fast-growing workplace messaging and communication platf...
NEW YORK - Slack Technologies, the fast-growing workplace messaging and communication platform, is poised for an unusual public listing on Thursday that will see it trade on the New York Stock Exchange and could value it at around $16 billion, according to a person familiar with the matter.
“We think the jury is out on whether this is the right move or not,” said Kathleen Smith, a principal and manager of IPO ETFs at Renaissance Capital. “Looking at Spotify, it takes a little time for the stock to get established after a direct listing.” Slack’s direct listing could have implications for other large technology companies such as Airbnb, which is considering going public through a similar approach, a person familiar with the matter said.
Spotify’s direct listing in April 2018 was perceived as a success at the time, with a healthy number of buyers and sellers.
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