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Slack Technologies Files Draft Registration with SEC to Go Public
Monday, February 4, 2019Company Profile | Follow Company
Slack Announces Confidential Submission of Draft Registration Statement for Proposed Public Listing
San Francisco (& Vancouver, BC), CA, February 4, 2019--(T-Net)--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.
Slack has raised a significant amount of money privately over the last few years, including a $427 Million Series-H round of financing in August 2018 (at a reported valuation of more than $7 billion), and is among many unicorn tech companies looking to go public this year.
The company is backed by a number of major VC firms including Kleiner Perkins, Andreessen Horowitz, Accel and Softbank.
Bloomberg reported today that its sources indicate that the company is working with major investment banks in the US, and plans to forgo a traditional initial public offering and instead intends to sell its shares to bidders in what is known as a "direct listing".
See additional details and the full story on the Bloomberg website here.
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Editor's Note: Slack has major offices in the Yaletown area of Vancouver, BC
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Stewart Butterfield, Slack CEO and co-founder. Butterfield, who was born in BC, was also a Co-Founder of Flickr, a photo sharing platform that also began in Vancouver (and later sold to Yahoo).
About Slack
Slack is a collaboration hub for teamwork, where the right people are always kept in the loop and key information is always at their fingertips. Work in Slack happens in channels, so all the right people can be included, all relevant information kept in one place, and new team members are able to get up to speed easily. With Slack, teams are better connected.
Based in San Francisco, and with offices in Vancouver, Slack has raised millions from some of the world's best recognized investors including Accel, Andreessen Horowitz, Social+Capital, KPCB, Google Ventures, Horizons Ventures, IVP, Spark, DST, and Index.
Contacts:
Media and Industry Analysts: pr@slack.com
Investor Relations: ir@slack.com
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended ("Securities Act"). This announcement is being issued in accordance with Rule 135 under the Securities Act.
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