Slack Says It's Filed To Go Public

Slack, the cloud-based messaging platform, has confidentially filed with regulators to go public in the U.S. '[Slack], previously reported to be pursuing a direct listing of its stock, said in a statement Monday that it had submitted a confidential filing with the [SEC],' reports Bloomberg. 'Slack is working with Goldman Sachs, Morgan Stanley, and Allen & Co. on the share sale.' From the report: Slack plans to forgo a traditional initial public offering and instead intends to sell its shares to bidders in a direct listing, a person familiar with the matter said last month. While that would preclude the company from raising money by issuing new shares for sale, it would avoid some typical underwriting fees and allow current investors to sell shares without a lock-up period. The company is choosing the unusual method for going public because it doesn't need the cash or publicity of an IPO, the person said at the time. The share sale, which might take place toward mid-year, could value Slack at more than $7 billion, according to the person, who added that the San Francisco-based company's plans could still change.

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