Slack representatives have confirmed the exact date when they are planning to make an official public offer and have Slack become another one of tech companies joining the market of publicly traded companies.
The workplace messaging app will be thus testing the market as well as investors’ interest in tech companies with losses, but with a great potential to grow as well.
Slack IPO: Slack Public Offer Date Announced
Beyond Meat IPO, which jumped by 163% on the first-day trading, alongside Pinterest and Zoom Video Communications, have made it with having the share price rising.
However, Uber’s failure to meet even the low end of the share price target can represent an interlude into a troublesome welcome for the upcoming tech IPOs, including slack.
As stated back on Monday, May 13th, Slack should become a publicly traded company on June 20th, 2019, which means that we may see Slack shares going live already by the end of Q2 2019.
Slack IPO Estimates and Financial Reports: How Grave are Slack Losses?
When compared to losses recorded by the ridesharing giant, Uber, Slack’s losses are just a small piece of what Uber had lost in 2018.
While Uber recorded 3 billion dollars in losses for 2018, Slack is marking 143.85 lost in operating the business.
However, unlike Uber, Slack won’t release shares to the company through IPO, but will instead go for a direct offer.
That means that the shareholders already holding stocks in Slack will be able to sell their existing shares instead of having Slack starting a regular public offer.
Spotify is another tech company that previously went public, also choosing direct offer instead of an IPO.
Additionally, Slack renewed their financial report for Q1, stating that the revenue of the company jumped by over 60% for the first quarter of 2019.