Slack, the messaging company in the workplace, has hired investment bank Goldman Sachs to launch its IPO next year, a Reuters report said. According to Reuters, the company hopes to achieve a rating of well over $ 10 billion.
As early as September, the WSJ reported that Slack had already gone public in the first quarter in the first half of next year with an eye "ready for an IPO". It also said that the company believed that it could achieve a valuation well in excess of $ 7.1 billion, which it had recently received from private market investors.
Slack, based in San Francisco and Vancouver, had already announced this in May. There were 8 million active users daily. At that time, it was claimed that 3 million of its users were also the primary paying users.
When the company announced its $ 427 million final round of financing in August, the New York Times said it had eight million users a day, although only half of that figure was in the summer of 201
Slack's investors include SoftBank Group's Vision Fund, Dragoneer Investment Group, General Atlantic, T. Rowe Price Associates, Wellington's Management, Baillie Gifford, and Sands Capital, with much earlier investments from Accel Partners and Andreessen Horowitz (a16z).
When Accel and a16z financed Slack, it was actually another company, Tiny Bacon, and it worked long and hard in an online multiplayer game called Glitch, which did not get enough user access to continue ,
It was only while the company was developing that founder Stewart Butterfield thought that messaging infrastructu The opportunity he had created to communicate privately with Tiny Speck's engineers and other employees could be an even more promising idea.
Butterfield had talks with these early investors about repatriating their capital as he prepared to change course. As Andrew Braccia of Accel several years ago said, "We had a discussion about:" Should I return the money? ". But Braccia said, "I said to Stewart," If you want to remain an entrepreneur and build something, then I'm with you.
It was a clever move by Braccia, who spent nine years at Yahoo as Vice President, before joining Accel and meeting Butterfield after Butterfield's co-founder, Caterina Fake, sold her daughter, a photo-sharing company Flickr to the company.
It was also a big leap in faith, just because of the potential of Butterfield. "I do not think we understood how valuable, important or fast it would grow," Braccia admitted several years ago. "We only knew that the use case at Tiny Bacon was really strong, and if it's strong there, it could be strong elsewhere."
Slack's many customers include Airbnb, Time, Samsung and Oracle There is reason to believe that the market is well-received, considering that it is popular among these users and the performance of many other companies, which are subscription-based and will go public in 2018, including Dropbox, Zuora and DocuSign.
] However, the market could shift, which can be measured by the recent development of US stock markets. Stocks fell sharply today, limiting Wall Street's usual week. In fact, a disappointing employment report and tense US-China trade tensions seemed to be a major contributing factor to the Dow Jones Industrial Average sinking so low that it erased its gains for the year.