Slack makes move toward public listing

Popular message platform submits registration for a "proposed public listing" with the US Securities and Exchange Commission

5Feb

Slack Technologies, Inc., the company behind the successful workplace messaging service Slack, has submitted confidential paperwork to go public.

The platform, which has more than 10 million daily active users, has the backing of the Softbank Vision Fund and has raised almost $1.3bn in funding to date. According to Business Insider, it was last valued at $7.1bn in 2018.

Slack filed a draft registration with the US Securities and Exchange Commission (SEC), with the public listing set to occur after the SEC completes its review process. The listing will most likely occur in 2Q19.

Slack has become the first unicorn to announce its IPO intentions this year, with the likes of Uber, Lyft, Pinterest and Airbnb all said to be considering listings within the next 12 months.

Reports last month revealed that Slack has been working with Morgan Stanley, Allen & Co and Goldman Sachs on the process.

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