Slack ‘seriously considering’ direct market entry: source

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 “seriously” do you want the stock market debut via a direct listing, a source familiar with the matter told Reuters on Friday.

The Wall Street Journal reported earlier in the day that the Clearance, which 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 listing.

The plan for a direct quotation will Slack the second big technology company after Spotify Technology SA to work with a traditional IPO process in the public.

This comes after Reuters reported in December that the Clearance had hired investment bank Goldman Sachs Group Inc. to lead its initial public offering as an underwriter.

Slack not immediately respond to a request for comment.

Reporting by Bhanu Pratap in Bengaluru; Editing by Shounak Dasgupta

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