Potential investors have been waiting for so long to hear more information coming from Slack, and now, it seems like how the perfect moment finally came.
Slack Technologies have decided to take one huge and important step for their soon public-market debate. Security and Exchange Commission was there to make Slack’s new version of S-1 even better, providing numerous details about long-awaited DPO, or direct public offering. Besides that, it also shows the latest financial details of this giant unicorn.
Their new ticker symbol will be under the name WORK and it seems like how Slack is ready to start trading on June 20th.
They are also ready to represent their real-time software for messages which is now worth $1.1 billion (total assets).
Yet, when we take a look at their final reports and check all those new financial details, we can still see how Slack is losing money. For example, the revenue was $134.8 million, which is almost 70% throughout the year. We can easily come to a conclusion on how that growth is a way much smaller. Net loss was worth $31.9 million for just one quarter, which is, compared to the prior year quarter 28% worse.
Yet, not all is lost. Slack has also made a report about the number of their paid customers. It counts 95,000 now which is a little bit more than 40% than in the previous year.
It definitely seems like how Slack has a plan when it comes to attracting new users. They are doing that through their free subscriptions. Now, their site counts more than 10 million users who are active by each and every day.
We believe how Slack is not worried about the current situation because if it was, they wouldn’t choose a ‘harder’ way to determine the share price (by choosing the DPO).