Slack seeking $10B valuation from IPO - Mobile World Live

Slack seeking $10B valuation from IPO

10 DEC 2018

Enterprise app maker Slack Technologies is working on an initial public offering with investment bank Goldman Sachs for 2019 and hopes to get a valuation of $10 billion, Reuters reported.

The company raised $427 million in August 2018, when it was valued at around $7 billion. At the time Slack revealed it had 8 million daily active users, 3 million of which are revenue-generating.

Before that it had raised $250 million billion in 2017 in a round led by SoftBank, which valued the app company at $5 billion.

Slack’s rivals include Microsoft Teams, and Google Hangouts in the enterprise collaboration market, which research company IDC has projected will be worth $3.2 billion by 2021.

Meanwhile house-sharing platform Airbnb and digital payment company Stripe are also expected to float on the stock exchange in 2019.

Reports also state taxi-booking app developers Uber and Lyft have both filed for IPOs as they rush to beat the other to the market in early 2019.

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Saleha Riaz

Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters - creating content, writing blogs and reports as well as conducting feature interviews...More

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