Slack Technologies Inc., which offers a workplace collaboration platform, is going public tomorrow. Instead of an IPO, it is going public through a Direct Public Offering (DPO) following the footsteps of Spotify and others.
Here is some information about Slack.
- Going public on June 20, 2019 on New York Stock Exchange (NYSE)
- Stock ticker symbol: “WORK”
- Structured as a direct public offering (DPO)
- Offering price is determined by the market instead of investment bankers
- 10 million daily active users
- 85,000 paid customers
- 65 of the Fortune 100 companies use the Slack platform
- Over 150 countries have daily active users in Slack
- Revenue of $400.6 million in the year ending January 31, 2019
- Revenue up by 82% from prior year
- Lost $140.7 million last year
- Valuation by investors at $16 billion to $17 billion, according to Fortune
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