REUTERS/Dado Ruvic/IllustrationBy Joshua Franklin and Aparajita Saxena (Reuters) - Slack Technologies Inc is "seriously" considering making its stock exchange debut through a direct listing, a source familiar with the matter told Reuters on Friday. The plan for a direct listing will make Slack the second big technology company after Spotify Technology SA to bypass a traditional IPO process in going public. Slack declined to comment on reports of direct listing. Its closest competitor is Microsoft Teams, a free chat add-on for Microsoft's Office365 users. The direct listing provides the VCs with a quick exit and we believe this is the mitigating factor behind (Slack seeking a direct listing)," Lugasi said.

Source: Wall Street Journal May 03, 2024 06:02 UTC