The capitalization of Slack messenger exceeded $ 20 billion after an IPO in New York
Trading in shares of the American developer of messaging applications Slack Technologies began on Thursday at $ 38.5 per share, which is 48% higher than the initial valuation of $ 26 per share.
After opening, the price of securities exceeded $ 40, and the total value of the company, therefore, is more than $ 20 billion.
Slack placed its shares on the New York Stock Exchange as part of a direct listing. With such an extremely rare option for entering the open market, the company does not have to pay substantial commissions to underwriters, as is the case with an IPO, but it does not attract funds from the offering.
However, a direct listing allows the first shareholders and employees of the company to sell their securities on the very first day of trading, unlike the traditional IPO, when there is a blocking period of several months.
Earlier it was reported that the company expects to receive revenue in the amount of $ 590 to $ 600 million in the current fiscal year with a adjusted loss of 41-44 cents per share. Last fingodu ended January 31, she received $ 400 million in revenue.
The Slack application was launched in 2013, although the company itself has existed since 2009. In total, they have attracted investments of about $ 1.2 billion, and a significant portion of the funds remain on the balance sheet of the company. Its investors include SoftBank and Accel. In August, she completed the last round of fundraising, receiving $ 427 million. Then investors estimated the company’s value at $ 7.1 billion.
Slack is used primarily for internal corporate communication and collaboration. Last year, the company reported that its daily audience exceeded 8 million people, and the number of paid subscribers — 3 million people.