Here's who will get rich from Slack's stock market debut

  • 📰 CNBC
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Slack's public market debut on Thursday will generate billions for venture firm Accel and healthy returns for Andreessen Horowitz and Social Capital

of $26 a share provided by the New York Stock Exchange on Wednesday, Accel's shares are worth about $3.1 billion.

That's a decade after the firm put $1.5 million into the seed round of a gaming company called Tiny Speck, which later morphed into Slack., Accel's Andrew Braccia said he talked to Slack co-founder Stewart Butterfield at the time of the pivot about whether the company should return the money now that the gaming idea was clearly a flop.But the company we'd invested in was Tiny Speck, which produced the game, " Braccia, who's a Slack board member, told TechCrunch.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines