Slack announced that it has confidentially submitted a draft registration statement with the Securities and Exchange Commission (SEC) relating to the proposed public listing of its Class A common stock. It is expected that the public listing will take place after the SEC completes its review process.
Reuters reported in December of 2018 that Slack hired investment bank Goldman Sachs to lead its initial public offering (IPO) in 2019. According to Reuters, Slack is hoping to fetch a valuation of well over $10 billion in its IPO.
Crunchbase recently reported that Slack disclosed that it had 10 million daily active users. Slack also noted it has 1,500 apps in its directory and penetration into 65% of the Fortune 500.
What does this mean for Slack users? So far, the most notable change is Slack’s new logo. It is understandable for users to become a bit nervous after hearing that Slack, something many people use for work-related projects and communication, may go public. We are just going to have to wait and see what happens next.