VC Exits

Tracing Slack's tracks from founding to direct listing [datagraphic]

June 18, 2019 View comments (2)
Slack is set to list its stock directly on the NYSE on Thursday, becoming the first tech unicorn after Spotify to deviate from the conventional IPO track. The debut is expected to value the messaging powerhouse at up to $17 billion, per Bloomberg, a significant increase from its last private valuation of $7.1 billion.

A direct listing will raise no additional cash for the Bay Area business. And that makes Slack's negative $97 million in free cashflow last year significant. However, the company has a balance sheet strong enough to provide years of runway if the rate of cash burn remains flat or decreases compared to last year, according to a recent PitchBook analyst note. In its investor presentation last month, Slack also said it's in a strong position to replace email and integrate with other software applications, according to CNBC.

We've put together an interactive graphic to visualize the key numbers surrounding Slack’s journey from founding to its highly anticipated direct listing. Click on different sections to learn more about the company's finances, principal stakeholders, acquisitions and more. (If viewing the graphic on a mobile device, we suggest rotating the screen to landscape mode.)
 

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