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Home / Business / Slack allegedly chooses the New York Stock Exchange for its direct listing – TechCrunch

Slack allegedly chooses the New York Stock Exchange for its direct listing – TechCrunch



The ubiquitous corporate messaging service Slack follows in the footsteps of Spotify's subscription music service and is traded on the New York Stock Exchange to trade on a direct quote, the Wall Street Journal said. Last October, nearly $ 900 million Dollars available as they prepared for the IPO. The decision to go public is likely to be made for a number of reasons that Spotify had at its IPO.

Here are the reasons we have listed for Spotify's. Decision at this time last year:

List without Shares Sale – Spotify has $ 1.3 billion in cash and securities, and has no debt since it was converted into investor capital Liquidity ̵

1; Investors and employees can sell on the public market and sell at the time of their election, without the investors shortening an expiration of the bridging New investors can participate

Equal Access – Bankers have no preferential access. Instead, the whole world will be available at the same time. "No consortium, no limited float, no IPO allocations, no preferential treatment."

Transparency – Spotify wants to show the facts about his business to everyone about today's presentation and not give more info Bankers in Closed Doors

Market Driven Price Discovery – Instead of setting a certain price for bankers, Spotify lets the public decide what it's worth. "We believe that the wisdom of the crowd trumps expert interest."

Slack does not need the money that could come from a public offer, but his longtime employees want some liquidity and also their long-term investors. [19659002] The choice of the New York Stock Exchange is likely to give some comfort to the company, because unlike the Nasdaq, the NYSE has market makers on the stock exchange who can control the prices if the stock becomes volatile on the first trading day on its first trading day WSJ.

There will be a banner year for public offerings in the US this year, and the NYSE and NASDAQ are competing to see who can claim the most technical public offers for the year.

Nasdaq had an early hit with Lyft's public offering last week. But NYSE has claimed Pinterest, Uber, and Slack, which could be the biggest public offering of the year.

Whatever the outcome, the public offering will be good news for investment firms like Accel Andreessen Horowitz, Dragoneer Investments, General Atlantic, GV, Little Perkins, Social Capital, Softbank Group and Thrive Capital, which together invested around $ 1.2 billion in the company.


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