Slack will be pursuing a direct listing - in which current insiders sell shares in a public offering, but no new capital is raised. The development begs the question of whether this potentially lower friction option will encourage more unicorns to take their talents to the public markets.
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Slack Plans to Follow Spotify on Unconventional IPO Route
Slack Technologies Inc. is planning to go public through a direct listing, according to people familiar with the matter, potentially making it the second big technology company after Spotify Technology SA to bypass a traditional IPO.
