Slack Messenger Is Getting Ready for access to IPO

Slack Messenger Is Getting Ready for access to IPO

Slack Messenger and access to IPO

Reuters reported that Slack hired investment bank Goldman Sachs for the expected initial public offering (IPO) in 2019. Even now, Slack Messenger is in talks with investment banks to hold the IPO. It is expected that the manufacturer of software for corporate chats can reach 10 billion dollars, according to Reuters as referred to unnamed sources.

In August 2018, Slack was able to attract $ 427 million in private financing negotiations led by General Atlantic and Dragoner. At that time, the market valued the corporation at more than $ 7 billion. According to Crunchbase, the company has attracted more than $ 1.2 billion in seven stages of financing since 2010.

Last month, Stuart Butterfield, co-founder and General Director of Slack, shared with Fortune that the company “has no specific IPO deadlines,” although he also said that “we have been on the road to publicity for several years and we continue to move in that direction”.

Slack Messenger Chances

Slack is a popular corporate work platform allowing colleagues to communicate with each other. Now the nine-year company has more than 8 million active users, 3 of whom are VIP clients. Although Butterfield clarified in the interview with Fortune that the actual number of users was much higher. By the way, the first public release of the company took place back in 2014 and even then, the number of its users was 1 million.

In September 2017, the Financial Times newspaper estimated the Slack messenger at $ 5.1 billion and called it one of the most expensive startups in this field. Executive Director Stuart Butterfield did not rule out that Slack would be able to go to IPO, and said that this would happen at least in 2018.

The technological IPO market has been sluggish for several years, but in 2018, it became more active. So far, in 2018, 188 companies have become public on US exchanges, compared with 160 for the entire 2017. About 40 IPOs this year were technology startups, including Sonos, Dropbox and SurveyMonkey.

It is expected that 2019 will bring large companies to the IPO market, not only Slack, but also Uber, Lyft and Airbnb. As for the messenger, analysts are sure about its account: 2019 will be a winner for the company.