Slack Technologies is “seriously” considering making its stock exchange debut through a direct listing, a source familiar with the matter told Reuters on Friday.
Slack, which operates a popular workplace instant-messaging and collaboration app, is likely to debut in the second quarter and currently expects to do so via a direct listing. The plan for a direct listing will make Slack the second big technology company after Spotify Technology SA to bypass a traditional IPO process in going public.
“Slack’s direct listing is an inherently less expensive way of going public, but what it really comes down to is speed,” said Daniel Lugasi, a portfolio manager at Florida-based VL Capital Management.
Slack declined to comment on reports of a direct listing. Read more.
