Slack is one of NPR's financial sponsors. This is where tools like Microsoft Teams do just as well.' 'There is a large percentage of the population that isn't that. 'If the world were only composed of technologists and developers and Silicon Valley illuminati, then Slack would be far, far ahead,' Facemire says. With Microsoft Teams as a major competitor, Slack is facing pressure to distinguish itself in the market. But it had a net loss of nearly $139 million.Īs it continues to grow, Slack's biggest hurdle will be proving to its users that it's more than just a chat application.įorrester analyst Michael Facemire says it's hard for people to understand why the platform is more useful than other chat applications without trying it for themselves. 31, Slack nearly doubled its revenues, to about $400 million. Spotify, the music-streaming company, went public as a direct listing last year. It's primarily a way for company insiders to sell some of their holdings to investors, while bypassing the formidable fees and requirements of using an underwriter.' 'Unlike an ordinary IPO, a direct listing means the company doesn't issue any new shares and doesn't raise additional capital. Most firms that pass on an IPO are widely known companies that are in good financial shape. Instead of having a conventional initial public offering, Slack entered the market as a direct listing, which means the shares were simply listed on the New York Stock Exchange. That puts the company's value at about $20 billion. It soared to as high as $42 per share Thursday, but closed at $38.62.

Slack Technologies opened at $38.50 per share - 48% above the starting price that had been projected Wednesday. On Thursday, the company took that popularity to the New York Stock Exchange, where its shares soared on its first day of trading. 'I'll Slack you' is shorthand for sending a message via the workplace chat platform. In just five years, Slack has grown to have more than 10 million users and has become a verb in the process.

Slack fees