Joining the IPO frenzy of 2019, Slack finally announced the date of the company’s public offer, as stated back on Monday, May 13th, by Slack representatives.
Instead of going for a regular public offer through IPO, Slack is set to have a direct offer just like Spotify did back at the time when the company behind the music streaming application went public.
While Slack is said to open the first public trade on June 20th, investors will have more than a month to prepare for the opening sale of Slack shares.
How Profitable is Slack Ahead of Its IPO?
According to the latest statement, more than four weeks ahead of Slack’s “big day” in the market, Slack is recording 65% of increase in revenue for the first quarter of 2019.
However, alongside recording increased revenue, stating that the revenue grew by 134 million dollars for the first quarter, Slack emphasized that losses have grown as a consequence as well.
In accordance with the statement, losses also went up by nearly 50% during the first quarter and in oppose to the last Q, while the detailed report on Slack finances should be released ahead of Slack IPO.
The company stated that the details to the finances of Slack should be published by June 10th, only several days over a week before Slack goes public.
Should I Invest in Slack IPO 2019?
Slack will go public on New York Stock Exchange under the thicker SK already by the end of Q2 2019, although the IPO date can be changed in the meanwhile to meet the needs of preparing a public debut.
Slack is showing signs of profitability, but as well as many other tech companies, the messaging workspace app is recording increasing losses as well.
After memorable and devastating failure of Uber IPO, the market might seem saturated with tech IPOs, however, Beyond Meat, Pinterest and Zoom Communications, that went public a bit earlier than Uber, have had a great turnout from investors.