Earlier today, Slack Technologies, creator of the popular Slack collaboration platform, announced that it has confidentially filed to become a publicly listed company. The Securities and Exchange Commission will now review the registration documents submitted by Slack and will decide if the firm can be publicly listed.
Slack’s statement was restricted to just two paragraphs with the second largely acting as a legal disclaimer. The first paragraph which contains the bulk of the information said:
“Slack Technologies, Inc. today announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the "SEC") relating to the proposed public listing of its Class A common stock. The public listing is expected to take place after the SEC completes its review process, subject to market and other conditions.”
It’s not clear yet how much Slack will be selling shares for, or how many shares it will be selling but according to Reuters, the firm is hoping to get a valuation in excess of $10 billion.
Slack should be in good position when it finally does go public, recently it announced that it had 85,000 paying customers, up 50% over the past year. With it having a paid product it might have an easier time on the market when compared to the likes of Twitter which struggled before finally making it to profitability.
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