Slack technology takes off in the stock market and debuts with an increase of 49%



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The company reaches the markets ten years after its founding in 2009, transformed into a "unicorn" – a company valued at $ 1 million before opening the capital.

The company based in San Francisco (California, USA) debuted on Wall Street just minutes after noon with a first price of $ 38.50.Bloomberg News.

Technology off, which develops instant messaging software for companies, took off on Thursday New York Stock Exchange in its opening stock market, where the session closed with an increase of 49.54% and selling each of its securities for $ 38.70.

The company established in San Francisco (California, USA) premiered in Wall Street a few minutes after noon with a first price of $ 38.50, well above the $ 26 price he booked last night for his long-term visit to New York's parks, though at times during the session has exceeded $ 40.

With the closing price, the company reaches a market capitalization of $ 19.5 billion, more than analysts had expected.

Day off It hits the markets ten years after its founding in 2009 to become a "unicorn" – a company valued at $ 1 billion before its IPO – and does so through an unusual mechanism: direct quotation, just as it did Spotify in its moment.

As a result, the company places the securities directly on the market without the intermediation of a bank entity and its price is decided by the law of supply and demand. In addition, the objective is not to capture liquidity, since the company's new shares are not withdrawn, but shareholders may place them in the market and negotiate with them.

According to the brochure of his stock market debut that he presented to the Market and Securities Commission Slack has more than ten million active users (the vast majority outside the United States) in more than 150 countries.

In its last fiscal year (January 31), Slack lost $ 138.9 million, down two million from 2018, but doubled its revenue, as it received $ 400.5 million January 31st). of 2018 were 220.5 million).

In the first quarter of this year, its revenue grew 67% year on year, reaching 134.8 million dollars. Net losses totaled 31.8 million.

Day off reaches the markets following the trail of other "unicorns" as Lyft or Uber, despite its booming stock market starring, rather than example, represented a fear of technology.

Lyft It debuted with big gains in March, although on its second trading day began to fall and has since not exceeded its initial price. Uber, on the other hand, set a price of $ 45 per share for its debut and debuted below, without having managed to close any session above the mark.

Slack aspires to have a better track record on the stock exchange and its CEO, Stewart Butterfield, predicts that in seven years, the email to communicate within the companies as we know it will be gone.

"Everybody's going to choose that," Butterfield said of Slack's service during an interview with the network. CNBC, which allows for more direct and quick communication between employees and is also used as a method of telecommuting.

The company, which risked using the direct quotation method, was "very good" in its first session, considered the partner of the consultancy Goodwin Procter Rick Kline, stating that this may be an "interesting alternative" to the classic public sales operations with which companies appear on the markets.

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