Slack’s Stock Ends Its First Day Worth $21 Billion. Now the Hard Work Begins

Investors, say hello to the biggest tiny speck in the world. A decade ago, serial entrepreneur Stewart Butterfield co-founded startup Tiny Speck, which made video games that ultimately failed to catch on. But instead of giving up, he refocused the company on a chat app that his small team had created to communicate among themselves. […]

Slack Jolts to $21 Billion Valuation In Direct Listing Debt After Shunning IPO

A parade of initial public offerings from Silicon Valley this year have garnered mixed receptions from investors. Slack Technologies Inc. took a different route on Thursday, and saw its shares soar as it went public without an IPO. Slack opened at $38.50 on the New York Stock Exchange Thursday, well above the reference price of […]

Slack Is Going Public Without an IPO. Here’s How a Direct Offering Works

Ten years after it was founded, Slack Technologies will list its shares on the New York Stock Exchange on Thursday. The ticker symbol? WORK. And the NYSE has set Slack’s stock reference price, which may help determine where it starts trading, at $26 a share, valuing the company around $15.6 billion. But in contrast to […]