The Wall Street Journal first reported on the timing. "Looking back at the last six-month period, we have seen robust demand-side interest in Slack balanced with shareholders ranging from individuals to institutions who are looking at taking some risk off the table," said Rodriques, whose firm is backed by billionaire VC investor Peter Thiel and French bank BNP Paribas.Īccording to a person familiar with the company's plans, Slack is planning to reveal its listing prospectus as soon as Friday. In an IPO, the lead underwriters take orders from investors and raise the price for the offering based on demand, while also typically baking in a first-day pop. The secondary trades can give Slack some visibility into what investors are willing to pay, because with a direct listing, there's a less formal system for price discovery.
This approach means the company doesn't raise money but allows existing investors to convert their private shares to public stock and sell it without the traditional lock-up restrictions. Rather, Slack is following Spotify's lead and directly listing its shares. Slack, whose cloud-based messaging software lets employees communicate and collaborate, is preparing to go public on the New York Stock Exchange, but not through a typical IPO. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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