Published , by Asif Khan
Published , by Asif Khan
Slack Technologies, Inc. is rumored to be preparing an IPO for the first half of next year. The 2019 initial public offering is expected to value the company around $7 billion. A Slack representative said the company does not comment on "rumors and speculation."
Just this August, Slack raised $427 million in a funding round at a valuation over $7 billion. The company faces competition from the likes of much larger companies like Microsoft and Google, and it is somewhat surprising that they have not been acquired as of yet. The Wall Street Journal reports that Slack has yet to hire underwriters for an IPO, but they are actively preparing to bring the company to public markets. Slack is a very popular online virtual office chat room and collaboration service that is rumored to have over 8 million daily active users (including Shacknews).