Monday, 25 October 2021

Work messaging app Slack takes next step for IPO

NEW YORK: Work messaging platform Slack is taking the next step in filing to go public, the latest in several highly anticipated tech IPOs.

In documents posted with the Securities and Exchange Commission Friday, Slack Technologies Inc. says it posted a loss of $138.9 million on revenue of $400 million in the fiscal year ended Jan. 31, 2019.

In February Slack filed a draft registration statement with the SEC. Slack is pursuing a direct listing rather than a regular initial public offering. In a direct listing, a company doesn’t hire underwriters or sell new shares, just existing shares. It plans to list on the New York Stock Exchange under the ticker “SK.”

Slack’s IPO comes after Pinterest, Lyft and Zoom went public. Uber and Postmates are due up next.

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