![]() ![]() The software has become increasingly popular, with HSBC and Ford among some of the big corporate users. It means that flooding people with irrelevant emails can be cut. Slack's software replaces emails by grouping messages around subjects, projects and teams. If Slack can also make a success of its direct listing, it could have implications for how future tech firms come to market, including for Airbnb. Spotify's listing is generally regarded as a success, although the shares now trade about 15% below their debut price. When Snap went public in 2017, it paid about $85m to its financial advisers. Slack's listing fees are expected to be about $22m. "Looking at Spotify, it takes a little time for the stock to get established after a direct listing." "We think the jury is out on whether this is the right move or not," Kathleen Smith, a listing expert at Renaissance Capital, said ahead of the start of trading. Slack is the second big tech firm to go the direct route, after music streaming service Spotify used the method last year. The jump in the share price put the value of the company at $25bn. That opened the possibility of wild swings in the price as traders try to assess where the shares might settle. The company chose a direct listing on the stock market, rejecting the use of traditional advisers and underwriters who manage the price of new stocks. Slack set a guide price of $26 a share, but rose 60% at the start of trading before easing back to finish at $39. Shares in messaging app Slack surged 49% as the company became the latest tech start-up to join the stock market.
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