Slack is aiming to file its listing prospectus this week

This means the firm is likely to debut on the New York Stock Exchange in May or June.

Slack messaging platform Source: Bloomberg

Slack, a workplace instant messaging app, is said to be debuting on the New York Stock Exchange in May or June this year, according to a report from The Wall Street Journal.

The move will be ahead of earlier speculations of the messaging app directly listing its shares in June or July. The firm had opted for a direct listing instead of raising capital through an initial public offering (IPO).

In February, Slack had confidentially submitted its filing to regulators for a direct listing on the stock market, and according to The Wall Street Journal, it is aiming to make the document available by this Friday.

The paperwork will show that Slack is on track to reach a revenue of about US$500 million for this year, the sources who told the paper said.

Slack, which makes chat software for businesses, was valued at US$7.1 billion by private investors last year.

Recent private sales of Slack stock have pushed the business to a valuation of about US$16 billion, said Bloomberg, which is more than double its last private funding valuation.

Shareholders have been said to have sold stock to private buyers in the last two months for shares at a range of US$24 or US$27 per share.

Bumper year for tech unicorn IPOs and debuts

2019 is a year where many tech unicorns are slated to or have already made their debut on the public market.

Ride-hailing firm Lyft debuted at US$72 per share after much hype was generated and its IPO price was placed at the top end of its price range, assigning it a valuation of US$24 billion in an offering that raised US$2.34 billion.

But Lyft’s share price tunnelled down quickly on concerns on the tech firm’s profitability. Lyft’s shares fell by 4.03% to US$57.82 on Wednesday's close.

Social network sharing app Pinterest, meanwhile, debuted on Wall Street last week, pricing its offering at US$19 per share, and as of yesterday's close, the stock has risen to US$26.80. The firm had initially set a range for its public shares to be below the company’s last private-market valuation, after witnessing Lyft’s drastic debut.

Pinterest’s current share price has since exceeded its earlier private-market valuation.

Tech giant Uber filed for its IPO this month and is expected to be listed on the New York Stock Exchange in May. The ride-hailing firm is said to be planning to sell around US$10 billion worth of stock at a valuation of between US$90 billion and US$100 billion.


This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

Seize a share opportunity today

Go long or short on thousands of international stocks.

  • Increase your market exposure with leverage
  • Get spreads from just 0.1% on major global shares
  • Trade CFDs straight into order books with direct market access

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Bid
Offer
Updated
Change
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Friday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.

All trading involves risk and losses can exceed deposits. Trading CFDs may not be suitable for everyone so please ensure that you fully understand the risks involved. All trading involves risk and losses can exceed deposits.