Slack planning to pursue direct listing: WSJ

FILE PHOTO: the side of The app logo is seen on a smartphone in this photo image September 15, 2017. REUTERS/dado Ruvic/Illustration

(Reuters) – the Slack Technologies Inc is going to be on the stock exchange by a direct offer, the Wall Street Journal reported on Friday, citing people familiar with the matter.

Slack, who is active in a popular workplace instant messaging and collaboration app, is likely to debut in the second quarter and currently expects to do so through a direct entry, according to the report.

The plan for an immediate listing of potential Slack is the second large technology company Spotify Technology SA to work with a traditional IPO, the wall street journal reported.

Slack had hired investment bank Goldman Sachs Group Inc. to lead its initial public offering as an underwriter, Reuters had reported in December.

Slack not immediately respond to a request for comment outside of regular business hours.

Reporting by Bhanu Pratap in Bengaluru; Editing by Shounak Dasgupta

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