Slack reportedly chooses the New York Stock Exchange for its direct listing

TechCrunch | 4/1/2019 | Staff
xxlauzyxx (Posted by) Level 3
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The ubiquitous corporate messaging service Slack is following in the footsteps of Spotify’s subscription music service and heading to the New York Stock Exchange for trading through a direct listing, according to the Wall Street Journal.

Slack, which reportedly had somewhere near $900 million on hand last October when it was prepping for its initial public offering, is likely choosing the direct listing route for some of the same reasons that Spotify had when it went public.

Reasons - Spotify - Decision - Year - Time

Here are the reasons we listed for Spotify’s decision last year around this time:

Equal Access– Bankers won’t get preferred access. Instead, the whole world will get access at the same time. “No underwriting syndicate, no limited float, no IPO allocations, no preferential treatment”.

Price - Discovery - Rather - Price - Bankers

Market-Driven Price Discovery – Rather than setting a specific price with bankers, Spotify will let the public decide what it’s worth. “We think the wisdom of crowds trumps expert intervention”.

Slack doesn’t need the money that could come from a public offering, but its longtime...
(Excerpt) Read more at: TechCrunch
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