Slack Technologies rises in Wall Street debut

NEW YORK: Software company Slack Technologies climbed on the New York Stock Exchange on Thursday after entering in a direct listing in the latest sign of Wall Street's appetite for new technology entrants.

Slack - the happy byproduct of a failed video-game initiative by Butterfield and colleagues - is not raising capital with the issuance. But Butterfield said that entering public markets positions the company to raise funds for growth programs down the road. Greifeld said a direct listing leads to a"more democratic" price discovery process made by individual investors, rather than through a traditional roadshow with institutional investors.

Butterfield, who cited Latin America and Southeast Asia as strong markets for potential long-term growth, told CNBC that Slack was born from software devised to help him build a video-game with colleagues at different locations.

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Tech firm Slack to make market debut, at US$26 reference price[SAN FRANCISCO] Cloud-based software firm Slack Technologies makes its debut on the New York Stock Exchange Thursday with a reference price of US$26, adding to this year's parade of new Wall Street entrants. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Tech firm Slack to make market debut, at US$26 reference price[SAN FRANCISCO] Cloud-based software firm Slack Technologies makes its debut on the New York Stock Exchange Thursday with a reference price of US$26, adding to this year's parade of new Wall Street entrants. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »