Slack planning to pursue direct listing: WSJ

Technology

FILE PHOTO: The Slack app logo is seen on a smartphone in this picture illustration taken September 15, 2017. REUTERS/Dado Ruvic/Illustration

(Reuters) – Slack Technologies Inc is planning to go public through a direct listing, the Wall Street Journal reported on Friday, citing people familiar with the matter.

Slack, which operates a popular workplace instant-messaging and collaboration app, is likely to debut in the second quarter and currently expects to do so via a direct listing, according to the report.

The plan for direct listing will potentially make Slack the second big technology company after Spotify Technology SA to bypass a traditional IPO, WSJ reported.

Slack had hired investment bank Goldman Sachs Group Inc to lead its initial public offering as an underwriter, Reuters had reported in December.

Slack did not immediately respond to a request for comment outside regular business hours.

Reporting by Bhanu Pratap in Bengaluru; Editing by Shounak Dasgupta

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